Electric Pallet Jack and Stacker Market To Generate $7,069 Million Revenue by 2030

The electric pallet jack and stacker market size is expected to advance at a CAGR of 6.1% during 2022–2030, to reach USD 7,069 million by 2030. The boom in the e-commerce industry and the surge in the number of manufacturing and warehousing facilities worldwide are expected to fuel the sale of electric pallet jacks and stackers. This rise is more robust in the highly industrialized countries, as companies here focus to embrace the latest technologies.

The growth in the food & beverage, healthcare, warehousing & logistics, and other industries, coupled with the increase in the adoption of advanced technologies in material handling equipment, is predicated to stimulate the sale of enhanced material handling solutions.

The increasing demand from several companies for energy-efficient solutions is another major factor that will support the growth of the market in the coming years. Additionally, companies are continuously investing in varied new-generation technologies, such as IoT and automation. In this regard, the rising labor costs and increasing need for automation are expected to give traction to self-driving jacks and stackers during the forecast period. Moreover, companies are investing to expand their production capacities and improve their manufacturing processes, for catering to the evolving needs of customers, which is yet another reason of the market advance.

In 2022, APAC held the largest electric pallet jack and stacker market share, of around 43%. This is owing to the significant contributions of the leading manufacturing countries, such as Japan and China, coupled with the rapid industrialization in India.

Lead–Acid Batteries Are Leading Category

Lead–acid batteries are widely used in material handling equipment owing to their low cost. However, lithium-ion batteries are predicted to replace lead–acid batteries in the forthcoming years. These batteries are not only more efficient in terms of releasing energy but also have higher capacities, smaller sizes, and lower weights. Further, they are easier to dispose of than SLA batteries, which further boosts the demand for such machines with Li-ion batteries.

Self-Driven Category Is Expected To Show Faster Growth

The operator-driven category is dominating the global market, owing to the fact that these variants have several features, such as easy navigation, fewer chances of collisions, and high efficiency. However, the self-driven category is predicted to show the faster growth in the forthcoming years owing to the rising usage of these alternatives in various end-use industries for automating processes and reducing the requirement for human laborers.

High Usage in Warehousing & Logistics Sector

The warehousing & logistics industry is set to continue to generate the highest demand for electric pallet jacks and stackers over this decade. This is due to the increasing count of warehousing & logistics facilities across the globe and the rising need for sustainability. Moreover, these types of electric pallets provide improved productivity, which is why they are considered an enhanced alternative to diesel forklifts.

The key players in the electric pallet jack and stacker market are Toyota Industries Corporation, Jungheinrich AG, Hyster-Yale Materials Handling Inc., EP Equipment, Hangcha Forklift, Hyundai Construction Equipment Co. Ltd., KION GROUP AG, Doosan Corporation, Mitsubishi Logisnext Co. Ltd., and Crown Equipment Corporation.