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Vertical Lift Module Market to Register a Strong Growth By 2025
Posted: Jun 12, 2017
With the advent of automation, the material handling industry has made a huge leap forward. Technological advancements are helping the material handling industry rely on machines to perform complex tasks in a structured way. Material handling is an important part of the manufacturing and logistics industry, which has consistently been on an upward path. Robust growth of these various sectors is thus heavily dependent on advancements made in material handling segment. Vertical lift module or VLM is a storage system which consists of two parallel columns of vertically arranged trays, a delivery lift platform mechanism and is operated through computers. Goods stored in vertical lift modules are brought automatically to an operator, thereby considerably reducing walk time and search time.
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The major advantage that vertical lift module offers in comparison to conventional shelving is that it allows businesses to optimize floor space and increase productivity. It also allows businesses to wrap retrieval, picking and packing processes under a single process. When mapped on a product life cycle, the market for vertical lift modules is still in the second phase of growth stage. Thus, FMI predicts that untapped growth opportunities exist within the Vertical Lift Module market and hence, the market is expected to grow at a healthy growth rate during the forecast period.
Global Vertical Lift Module Market: Dynamics
Performance of end use industries, which in turn are being driven by economic growth, is expected to be one of the major factors driving demand for the vertical lift module market. Thus, macro-economic factors will have a direct effect on the demand for vertical lift modules in near future. From the demand side perspective, increased demand for customized solutions leading to new product developments will be a significant growth driver for the vertical lift module market. Added benefits of vertical lift module when compared with existing solutions will also lead to an upsurge in demand for vertical lift module. Vertical lift modules offer various advantages such as reduced floor space requirement, enhanced productivity, higher efficiency, product security, operator’s safety and higher reliability. That apart, vertical lift modules also offer a relatively large inventory of goods which can be accessed quickly.
Global Vertical Lift Module Market: Segmentation
The global Vertical Lift Module market can be segmented on the basis of configuration, application and end use industry. On the basis of configuration, the global vertical lift module market can be categorized into: External Picking Bay, Internal Picking Bay. On the basis of application, the global vertical lift module market can be categorized into: Light & Medium Duty, Heavy Duty. On the basis of end use industry, the global vertical lift module market can be categorized into: Industrial, Automotive, Food & Beverage, Paper & Pulp, Electrical & Electronics, Medical & Healthcare, Aerospace, Others, Commercial, Logistics, Retail, Others.
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Global Vertical Lift Module Market: Regional Outlook
By region, North America and Europe are early adopters of vertical lift module systems. Most of the leading players operating in the global vertical lift module market are based in North America and Europe. Thus, the market in both these regions is expected to be technology driven and there will be high demand for advanced products with latest technologies. Also, owing to robust economic growth in India, China and ASEAN countries which has created huge business opportunities in the region and increased industrial establishments annually, the Asia Pacific market for vertical lift module will pose significant growth opportunities in near future. Middle East & Africa and Latin America are anticipated to hold relatively lower market share. However, the outlook for demand remains optimistic over the forecast period.
Global Vertical Lift Module Market: Market Participants
Owing to the many requirements that form a part of the precise manufacturing process used to develop vertical lift modules, the market is characterized by the presence of only a limited number of major players in the market.
Examples of some of the market participants identified across the value chain of the global Vertical Lift Module market are: SSI SCHAEFER AG, Modula, Vidmar, Bastian Solutions, Inc., SI Systems, LLC., Systec Group, Central Conveyor Company, Cisco-Eagle, Kardex Remstar, CI Industrial, LLC., SencorpWhite.
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The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
Swapna work as a Sr. Digital Marketing Consultant with Persistence Market Research, an New York based market Intelligence Company which analyzes various markets and estimate the growth opportunities of the market in the future.