The global vertical lift module market is valued at US$ 1.5 billion in 2023 and is expected to reach US$ 3.4 billion by 2033-end. Global demand for vertical lift modules is forecasted to increase at a CAGR of 8.5% from 2023 to 2033.
The internal bay vertical lift module is the most suitable solution when there are space constraints. Internal bay vertical lift modules are cost-effective & quick, save floor space, and come with increased productivity and picking accuracy.
According to user needs, the enclosed system of vertically arranged racks with a range of payload capacities that are automated and run on computer commands either delivers or replenishes the goods in an ergonomically positioned workstation is known as a vertical lift module (VLM). Vertical lift modules offer several benefits such as faster inventory turns and a reduction in operator injuries.
Download a Sample Copy of This Report: –https://www.factmr.com/connectus/sample?flag=S&rep_id=5347?PJ
Market Players: –
- Modula Inc.
- Kardex Group
- Constructor Group
- Stanley Vidmar
- Green Automated Solutions
“Growing Emphasis on Industrial Automation Driving Sales of Vertical Lift Modules”
The development of Industry 4.0 has significantly accelerated the trend toward industrial automation during the past ten years. This has significantly increased the sales of vertical lift modules across the globe. Due to the advantages offered by vertical storage systems, it is projected that the market would increase quickly over the coming years.
Vertical lift modules have also become a successful tool management solution as a result of which their use in the industrial sector is expanding. Vertical lift modules are being employed more widely for the handling of spare parts in several key sectors.
Increasing globalization and the need to achieve production efficacy will emerge as the primary factors driving the vertical lift module market expansion. Growing investment in R&D capabilities, soaring preference for vertical lift modules by the manufacturing industries, and rising demand for customized solutions and the integration of robots are all driving market expansion.
Key market players are using a variety of techniques, such as quality control and mergers & acquisitions to grow their market share. Additionally, top businesses are collaborating with regional distributors and partners while also growing their distribution network. Leading companies are heavily investing in R&D to maintain product standards and introduce advanced technology, which will broaden their product line and enable them to improve their current items.
Prominent producers of vertical lift modules are participating in the creation of novel and inventive vertical lift modules following safety regulations to lower the environmental impact and increase their market position. Additionally, vertical lift module manufacturers’ primary growth tactics for attracting clients include a well-organized and effective supply chain management and an upgraded retailing network.
For instance :
- EffiMat Storage Technology A.S released their exclusive ClassicMat™ ensuring efficient storage optimization along with exceptional picking speed, and ergonomic picking height.
- Kardex acquired the bulk of the stock in the Dutch business Robomotive, and together with Robomotive, it will expand its offering of fully automated picking solutions. The business will use Robomotive’s technology to expand its intralogistics business, implement autonomous order picking for full cases, and take a significant part in production and logistics.
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
How Fact.MR Assists in Making Strategic Moves?
The data provided in the Vertical Lift Module Market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.
The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.