Awareness about benefits derived from a strategically managed supply chain is driving vertical lift module implementations resulting in the growth of market at CAGR of 9.5%
Published Date : 11/04/2017
According to a new market research study titled 'Vertical Lift Module Market to 2025 - Global Analysis and Forecasts by End-user', the global Vertical Lift Module market was valued at US$ 743.8 Mn in 2016 and is estimated to reach US$ 1667.6 Mn by 2025. The report highlights the trends prevalent in the global Vertical Lift Module market and the factors driving the market along with those that act as deterrents to its growth.
An ever increasing population is already creating pressures on the demand side of the supply chain for multiple product categories across industry verticals especially automotive, food & beverage, consumer goods and retail. In order to be efficient and upbeat with timely customer service, there needs to be a perfectly balanced supply chain system; a system that could back the ever increasing pressure on the demand side. Supply chain is one of the key source of competitive advantage for companies that drive growth in their businesses. Supply chain systems have gained wider and vital importance in the last few years, as a result of high competition in the product based market. A strong supply chain ensures proper balance between the supply and demand of the product in the market. Thus, many industry verticals are ensuring a strong supply chain for reaching out to their customers. VLM supports the operational flow of the supply chain at the initial stage. Vertical lift modules are applied in slow and medium moving order fulfillment and inventory management applications, ensuring increase in efficiencies. Thus, rising demands for efficient supply chain implementations, is driving the implementations of VLM storage and retrieval systems.
VLM is a type of Automated Storage and Retrieval System (AS/RS or ASRS), which comprises of various computer controlled systems for accurate picking and replacement of loads. The market for VLM is bifurcated on the basis of end-user, which includes automotive, electronics, food & beverage, e-commerce, aerospace, logistics, pharmaceuticals, retail and others (construction, agriculture and oil & gas among others). On the basis of geography, the VLM market is analyzed into North America, Europe, Asia- Pacific (APAC), Middle East & Africa (MEA), and South America (SAM).
The emergence of online shopping and e-commerce is resulting in bolstering the market growth for VLMs as well as the increasing adoption of automated solutions in manufacturing industries, particularly in developing economies is also resulting in increased demand for VLMs. Some of the global key players operating in the VLM market are Hanel Storage Systems, Interlake Mecalux, Kardex Group, Lauyans and Co., Sapient Automation, SencorpWhite, System Logistics, Schaefer Systems International, Effimat, Dexion, Modula, Weland Lagersystems AB, Ferretto Group Spa and ICAM SRL among others.
Global Vertical Lift Module Market Breakdown by Regions, 2016 (%)
Source: The Insight Partners Analysis
The report segments the global Vertical Lift Module market as follows:
Global Vertical Lift Module Market - By End-user
Food & Beverage
Others (Agriculture, Oil & Gas, Construction etc.)
Global Vertical Lift Module Market - By Geography
Asia Pacific (APAC)
Middle East & Africa (MEA)
South America (SAM)