Global Vertical Lift Module Market Is Anticipated To Exhibit Above 8% CAGR During The Forecast Period 2022-32
With surge in automotive dealerships and expansion of manufacturing sectors, the demand for cost-effective, fast and safe storage and distribution solutions is increasing rapidly. In order to overcome the challenges related to efficient storage and distribution solutions, various manufacturing segments are getting inclined to automated vertical storage systems. According to Fact.MR, the global vertical lift module market is anticipated to exhibit above 8% CAGR during the forecast period from the year 2020 to 2030.
Vertical Lift Module Market: Segmentation
Fact.MR has studied the vertical lift module market with detailed segmentation on the basis of type, capacity, configuration, and key region.
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Vertical Lift Module Market: Key Players
The global vertical lift module market is expanding fast, creating ample of opportunities to the key market players. In order to capitalize on the market potential, some of the top companies such as
Hanel GmbH & Co. Kg
Weland LargerSystem AB
EffiMat Storage Technology A/S
Daifuku Co. Ltd.
Kardex Group (Remstar)
Systems Logistics SPA
Schafer Systems International, Inc.
Ferretto Group SP.A.
and others are opting for strategic methods to gain competitive advantage.
For instance, Hanel GmbH & Co. Kg has launched their broad range of high-tech automated solutions such as Hanel Rotomat® industrial and office carousels, the Hanel Lockomat® and the proven Hanel Lean-Lift® and Multi-Space® vertical storage systems supporting inventory transparency for maximum efficiency.
EffiMat Storage Technology A.S has released their exclusive ClassicMat™ ensuring efficient storage optimization along with exceptional picking speed, and ergonomic picking height.
As the global vertical lift module market is set to expand further, the key market players are expected to experience tough competition during the forecast period.
The Analyst’s Viewpoint
“With the growing Automotive sectors as well as heavy machinery manufacturing industries, the requirement for cost-optimized, fast, and safe picking and storage solutions is increasing rapidly. Vertical lift module market, being highly efficient in meeting all this criteria, is gaining traction all over the world which is projected to grow further during the forecast period.”
Vertical Lift Module Market by Type
In terms of refrigeration type, the vertical lift module market is segmented into non-refrigerated and refrigerated types. Non-refrigerated vertical lift modules are widely required by the dominating end user industries such as automotive, aviation, heavy metallic machinery equipment manufacturers, and others. As these key end-users require cost-optimized and efficient storage and handling solutions for goods without any temperature-controlled environment, they prefer non-refrigerated vertical lift modules.
With the fast evolving key end-user industries, the non-refrigerated vertical lift module market is anticipated to witness impressive growth during the forecast period.
Vertical Lift Module Market by Load Capacity
By load capacity, the vertical lift module market segments are below 20 tons, 20 tons to 40 tons, and above 40 tons. As below 20 tons vertical lift modules are most versatile in terms of usage in small to medium retail sectors, automotive equipment manufacturers and others key end-use segments, it has emerged as the leading category by load capacity.
As this type of vertical lift modules are cost-effective and can be used in broad range of applications starting from healthcare to aviation, they are hugely preferred across the globe.
According to Fact MR, the vertical lift module market with load capacity below 20 tons will continue dominating through the forecast period.
Vertical Lift Module Market by Configuration
In terms of configuration type, vertical lift module market can be categorized into internal bay (single & dual) and external bay (single & dual).
Internal bay vertical lift module is the most suitable solution when space constraints are there. Added to this, this type of vertical lift modules are cost-effective, quick, saves floor space, and comes with increased productivity and picking accuracy.
According to Fact MR, the internal bay vertical lift module market will remain in the key position during the forecast period.