Global Vertical Lift Module Market

5 Major Insights Into The Vertical Lift Module Market Report 2024

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033


The Business Research Company’s Vertical Lift Module Global Market Report 2024 offers crucial insights into the vertical lift module market help businesses analyse and build stronger strategies.


Market Size and Growth Rates

  • 2023 Market Size: $1.42 billion
  • 2024 Market Size: $1.58 billion
  • CAGR (2023-2024): 11.2%


The vertical lift module (VLM) market has experienced substantial growth in recent years, driven by several factors including the demand for automated storage solutions, the rise of e-commerce, and a focus on efficient inventory management. The market is set to grow from $1.42 billion in 2023 to $1.58 billion in 2024, at a compound annual growth rate (CAGR) of 11.2%.


Drivers of Historic Growth

  • Automated Storage Solutions: Increasing need for automation in storage to enhance efficiency and reduce human errors.
  • E-commerce Growth: Surge in online shopping requiring advanced storage solutions for faster order fulfillment.
  • Inventory Management: Emphasis on effective inventory tracking and management.
  • Labor Shortages: Need for automation to counteract labor shortages.
  • Cost Pressures: Rising costs prompting businesses to seek more efficient storage solutions.
  • Order Picking Efficiency: Demand for systems that improve the speed and accuracy of order picking.
  • Environmental Sustainability: Solutions that minimize environmental impact.


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Future Growth and Trends

Forecast Period Growth

  • 2028 Market Size: $2.33 billion
  • CAGR (2024-2028): 10.1%

The VLM market is poised for continued rapid growth, expected to reach $2.33 billion by 2028, with a CAGR of 10.1%.


Drivers of Future Growth

  • Urban Warehousing: Rise in urban warehousing to meet the demands of city logistics.
  • Customization and Flexibility: Increasing demand for customized and flexible storage solutions.
  • Smarter Warehouses: Development of intelligent warehousing systems.
  • Industry Adoption: Growing adoption of VLMs across various industries.
  • Safety and Ergonomics: Enhanced safety features and ergonomic designs.


Major Trends

  • Robotics and AGVs: Integration with robotics and automated guided vehicles (AGVs).
  • Cloud-Based Solutions: Adoption of cloud-based storage and retrieval systems.
  • Application Customization: Customization to meet diverse application needs.
  • Artificial Intelligence (AI): Incorporation of AI for improved functionality.
  • Real-Time Data Analytics: Utilization of real-time data analytics for performance optimization.


Impact of E-Commerce and Omnichannel Retail
The rise of e-commerce and omnichannel retail is significantly boosting the VLM market. Omnichannel retail strategies engage customers through multiple digital and physical touchpoints, driving the need for efficient storage and retrieval systems like VLMs. For instance, U.S. retail e-commerce sales totaled $271.7 billion in the third quarter of 2023, a 7.8% increase from the same quarter in 2022.


Key Players in the Market

  • Kardex Group AG
  • Hänel Storage Systems GmbH
  • Ferretto Group SpA
  • Modula Group S.p.A.
  • AutoCrib Inc.
  • Automha S.p.A.
  • Mecalux S.A.
  • Vidmar Inc.
  • ICAM S.r.l.
  • Green Automations LLC


Technological Advancements
Technological advancements are a key trend in the VLM market. Companies like Randex Ltd. are launching improved systems using automated vertical storage technology. Randex’s Compact vertical storage lift, for example, supports diverse inventory management processes, saves 90% of floor space, and enhances picking efficiency.


Strategic Acquisitions
Companies are expanding their capabilities through strategic acquisitions. RMH Systems Inc.’s acquisition of DAK Solutions in August 2022 aims to enhance its material handling integration and automation portfolio.


Market Segmentation

  • By Type: Non-Refrigerated, Refrigerated
  • By Maximum Load Capacity: Below 20 Tons, 20 Tons To 40 Tons, Above 40 Tons
  • By Configuration: Internal Bay (Single And Dual), External Bay (Single And Dual)
  • By Industry: Automotive, Metals And Machinery, Food And Beverages, Chemicals, Healthcare, Semiconductor And Electronics, Aviation, E-Commerce, Other Industries


Regional Insights

  • Largest Region (2023): Europe
  • Fastest-Growing Region (Forecast Period): North America


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The Vertical Lift Module Global Market Report 2024  provides a comprehensive outlook of the vertical lift module market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The vertical lift module market forecast offers a thorough analysis on vertical lift module market size, vertical lift module market share, prominent players and their strategies.


The Table Of Content For The Vertical Lift Module Market Include:
1. Vertical Lift Module Market Executive Summary
2. Vertical Lift Module Market Segments
3. Vertical Lift Module Market Size And Vertical Lift Module Market Growth Rate
4. Key Vertical Lift Module Market Trends
5. Major Vertical Lift Module Market Drivers
25. Key Mergers And Acquisitions In The Vertical Lift Module Market
26. Top Vertical Lift Module Companies
27. Vertical Lift Module Market Opportunities And Strategies
28. Vertical Lift Module Market, Conclusions And Recommendations
29. Appendix


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