According to the new research report published by The Insight Partners, titled “Vertical Lift Module Market - Global Analysis and Forecast to 2025”, the global vertical lift module market is expected to reach US$ 1,667.6 Mn in 2025, registering a CAGR of 9.5% during the forecast period 2017 to 2025.
In 2016, Europe accounted for the largest revenue share of nearly one-third of the total market share, followed by North America and Asia Pacific.
VLM systems also play important role in robotics; where they are used to guide the autonomous robots called as ‘self-navigating robots’. Various industries such as electronics, automotive, aerospace, food & beverage, pharmaceuticals and electronics are pretty concerned about reducing labor intensive processes, increasing accuracy and speed for the task of storage and then retrieval of their products whenever required. VLMs are highly flexible and can be relocated. Also, one of the major benefit delivered by VLMs is enhancing worker’s productivity and pick accuracy by around 200 to 400 percent.
Aerospace is one of the most critical industry of the world where precision and timing is quite essential. Proper storage and timely management of stocks, parts and tools are some of the major challenges faced by the industry. Security is another factor that prevails heavily in the aerospace industry. VLM offers proper management of storage, security and retrieval of tools as well as parts, leading towards the generation of VLM products from the industry.
The vertical lift module market in India is expected to grow at a CAGR of 13.62% during the forecast period 2017 – 2025. India being a developing economy, many new companies are entering into the market with the need of cost-efficient manufacturing units. India being the home of cheap labor, foreign automotive and electronics manufacturers are setting up their manufacturing units. Furthermore government’s initiatives such as “Make in India” is also luring manufacturers around the world to set up their manufacturing units. The dense presence of various industries in the country will positively influence the market for Vertical Lift Modules market in India.
Key findings of the study:
In our study, we have segmented the vertical lift module market by AS/RS type, which includes Unit Load ASRS, Mini Load ASRS, Carousels, Vertical Lift Modules, and Others. Furthermore, the application segment of the vertical lift module market is segmented into automotive, food & beverage, electronics, retail, e-commerce, logistics, aerospace, pharmaceuticals and others. On the basis of geography, the vertical lift module market is analyzed into North America, Europe, Asia- Pacific (APAC), Middle East & Africa (MEA) and South America (SAM) regions.
Some of the leading companies in the 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.
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