Reach Trucks Market Size, Share, Opportunities, And Trends By Type (Multidirectional, Indoor/Outdoor Moving Mast Reach Truck), By Load Capacity (Up To 1 Tons, 1 Tons – 2 Tons, Above 2 Tons), By Application (Warehouses, Distribution Centers, Others), And By Geography - Forecasts From 2024 To 2029

The reach trucks market is anticipated to show steady growth during the forecast period.

A reach truck is a specialized forklift that is frequently used in warehouses and distribution centers. It is intended to handle materials and goods in narrow aisle spaces, thereby increasing storage capacity and efficiency. They are outfitted with a telescoping mast and a pantograph mechanism that enables the forks to extend, retract, and lift pallets at various levels. Reach trucks are extremely flexible and can operate in tight spaces, making them ideal for applications requiring limited space. Increasing storage facilities and advanced lifting capabilities of reach trucks are major driving forces propelling the growth of the reach trucks market.

Market Drivers

• Increasing number of warehouses drives the reach truck market growth.

Reach trucks are essential warehouse equipment that has transformed the way of handling stored materials and products. These machines, with their extendable forks, can move vertically and horizontally, maximizing space and efficiency and their ability to lift heavy loads at elevated heights saves time and reduces the need for manual labor, which speeds up warehouse operations. The rise of e-commerce changed the retail industry, which demanded businesses to improve supply chain management, driving the demand for new warehouse facilities. For instance, according to recent data from the U.S. Bureau of Labor Statistics, there are a total of 22,297 establishments of warehouses in the 2nd quarter of 2023, an increase of 585 units compared to the 3rd quarter of 2022, which include private industry, local government, state government, and federal government.

Favorable investments in storage facilities accelerated the reach truck market growth

Reach trucks are crucial for increasing the efficiency and productivity of storage facilities. As businesses expand operations and aim for efficient inventory management, the demand for technologically advanced warehousing solutions has increased with a certain investment in storage facilities. This resulted in an increase in the demand for effective lifting solutions such as reach trucks, for efficient material handling in these expanding warehouse spaces. For instance, in January 2024, Khalifa Economic Zones Abu Dhabi (KEZAD Group) the largest operator of integrated and purpose-built economic zones, announced that it is starting the construction of a warehousing capacity of more than 250,000 square meters, with an expenditure of AED 621 million, to bring the additional capacity of pre-built industrial and logistical spaces online by the end of 2025. Additionally, in June 2023, Pladis announced the launch of a new warehouse in Carlisle, UK, with a £12 million investment to increase facility capacity and expansion necessitated the construction of a new narrow aisle warehouse with 1600 pallet spaces.

• High lifting capabilities contributed to the reach truck market growth

Reach trucks perform at navigating through narrow aisles and reaching heights that traditional forklifts cannot reach. They have impressive lifting capacities and can easily handle heavy loads, which improves lifting capability and changes warehouse operations, allowing businesses to maximize storage space while increasing overall productivity. This makes reach trucks an essential tool in sectors such as logistics and distribution. These advanced lifting capabilities of reach trucks pushed the reach truck market upwards.

Asia Pacific is anticipated to grow significantly

Asia Pacific is projected to account for a significant portion of the reach truck market due to the increasing storage facilities in major countries in the region. For instance, according to the Press Information Bureau, as of July 2023, the Food Corporation of India operates a chain of 1923 warehouses with a capacity of 371.93 LMT. Additionally, in January 2024, Fujitsu and YE Digital announced an agreement on new distribution center support aimed at tackling labor shortages and supply chain sustainability in Japan. Moreover, in December 2022, DHL Supply Chain announced an investment of EUR 10 million (NTD 320 million) to expand warehouses in northern Taiwan and meet the logistics demand of the semiconductor, pharmaceutical, and healthcare sectors.

Market Restraints

• High initial investment will restrain the reach truck market growth.

Reach trucks are highly capital-intensive equipment, and the high initial investment required for the purchase and maintenance of reach trucks may limit their adoption, especially in small and medium-sized businesses which may hinder the reach truck market growth.

Market Development

• September 2023- Crown Equipment announced the launch of its new ESR 1200 Series reach trucks, which allow operators to handle heavy loads quickly and safely, even at the highest lift heights, with their strong construction and powerful residual capacity of 1200 kg at a 12-meter lift.
• September 2023- Yale unveiled its new outdoor reach truck MRO16-20, to meet the needs of logistics customers. The MRO16-20 Outdoor Reach Truck can handle goods such as a counterbalance truck and reach heights of up to 7.5m, allowing operators to perform both duties with a single forklift.

Company Products

• ETV 216i Reach Truck- Jungheinrich AG provided an ETV 216i reach truck, which is the ideal partner for efficient and safe stacking and retrieval operations, as well as the delivery of pallets for order picking. Its fast lifting and pushing speeds significantly increase pallet throughput when compared to traditional reach trucks. ETV 216i reach truck features a load capacity of 1,600 kg, a lifting height of 10,700mm, and a speed of 14km/h.
• RMD 6000 Double Reach Truck- The RMD 6000 Double Reach Truck offered by Crown Equipment Corporation is the only narrow-aisle stand-up reach truck that features a MonoLift mast. It boasts remarkable travel, lift, and lower speeds, resulting in reduced cycle times and tangible productivity gains. It features a load capacity of 1450kg, a head length of 1547 to 1658mm, and a maximum lift height of 12825mm.
• ND-RS-1230C-D Reach Truck- Nido Machinery provides the ND-RS-1230C-D reach stacker, which is suitable for a variety of applications and can be an excellent substitute for a forklift. It is equipped with a good sight mast and an ergonomic design control system, which improves working efficiency and reduces operator fatigue. Its streamlined appearance and compact design provide comfort to its users. It features a load capacity of 1200kg, a reach distance of 400mm, and a load center of 600mm.

Segmentation

• By Type
  • Multidirectional
  • Indoor/Outdoor Moving Mast Reach Truck
• By Load Capacity
  • Up to 1 Tons
  • 1 Tons – 2 Tons
  • Above 2 Tons
• By Application
  • Warehouses
  • Distribution Centers
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others