Global Industrial Vending Machine Market

   2020-01-06       46        Business
Rating :
Global Industrial Vending Machine Market was valued at US$ 1.4 Bnin 2017 and is expected to reach US$ 3.2 Bn by 2026, at a CAGR of 10.89% during a forecast period.
Global Industrial Vending Machine Market
was valued at US$ 1.4 Bnin 2017 and is expected to reach US$ 3.2 Bn by 2026, at a CAGR of 10.89% during a forecast period. Global Industrial Vending Machine Market Industrial vending machines assist to view inventory levels in real time, help to keep track of accurate inventory counts, vending machines help in preventing overstocking, industrial vending machines release the burden of inventory management. These parameters are expected to drive the global industrial vending machine market throughout the forecast period. The growing regulations in companies concerning employee safety are expected to stimulate the growth of the market. Vending machines for Personal Protective Equipment (PPE) are progressively being implemented in manufacturing and oil & gas companies to enable the efficient usage of protective equipment for instance goggles, gloves, and helmets, among others. Furthermore, Maintenance, Repair, and Operations (MRO) machines are installed at maintenance facilities in aviation industries, wherever downtime affects the business operations in a significant way. Based on type, carousel type segment is expected to leading the market for industrial vending machines over the forecast period. Carousel type machines are used for products, like tools, cutters, and small testing equipment. These products occupy less floor space and are so, largely adopted by SMEs. Additionally, the cost of equipment is lower than the other types. Other types of equipment involve cabinets and lockers that are custom-designed as per the consumer requirements. Cabinets and lockers are typically used for MROs, which are stocked in comparatively higher quantities and volumes. Region-wise, North America held the largest market share in 2018, in terms of revenue, because of a large number of OEMs and distributors based in the region. North America-based companies are inventors in most of the technologies in the manufacturing industry, thereby contributing to the growth of the North America region. Higher awareness regarding worker safety and hazardous environments is also a significant factor in driving the regional market. The Asia Pacific is expected to be the fastest-growing regional segment, registering a CAGR of 10.3% during the forecast period. The growth can be attributed to the growing adoption of automation processes across numerous industries in this region. Various major players operating in the industrial vending machine market. Airgas, Inc., Apex Industrial Technologies, LLC, Brammer and IVM are the prominent players in the market. IVM Ltd develops and manufactures an extended portfolio of industrial vending machines. IVM has been in the vending machine business for 5 years and has been growing dynamically ever since. The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Industrial Vending Machine Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Industrial Vending Machine Market.

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pallavi narwade

About Maximize Market Research: Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healt..


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