Vertical Lift Module (VLM) market is expected to grow US$ 1667.6 million by 2025 from US$ 743.8 million in 2016. Automotive user segment expected to continue its dominance. Currently, almost 18% of the VLM used by automotive end-user sector. VLM are used to store or retrieve automotive parts from the storage places. They store and retrieve a variety of totes, trays and parts. They efficiently handle small, medium, and large parts that include mufflers and pipes, gaskets and wiper blades etc. Furthermore, the modular nature of the storage system allows for easy scalability of the storage spaces. As and when needed, modules can be added or reduced depending upon the needs of the user. Such as system helps an operator to use the available space to the maximum for storage and thus achieve cost savings.
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Major market initiatives were observed in the North American and European region as both of these regions are highly developed. Also, APAC region with developing economies such as China and India and other South Asian countries are demanding for better storage and retrieval systems due to their increasing e-commerce, logistics, and manufacturing sector. For this, companies are partnering with each other to enhance their sales and distribution network. The VLM market is facing intense competition and it is constantly increasing. Emergence of competitors globally and pricing pressures has created a pressure on the companies operating in the market to develop differentiate and innovative products along with cost-reduction. Thus, several companies are acquiring VLM business of other companies to expand their product-portfolio.
The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the VLM industry.
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.
Need for optimized and space efficient storage systems
Growing population across the globe, is tremendously impacting the demand for multiple product categories in automotive, pharmaceutical, retail, electronics, food & beverage, and many other industries. In order to cater to this enormously increasing demand, manufacturers have increased their productions significantly. VLM is such a storage solution, which salvages more than 80% of floor space by stacking the material in vertical shelves. Also, these storage systems are designed in such a way that they deliver the stored product to an operator at an ergonomically located position just on the push of a button, with minimal manual efforts. This effortless delivery results in time saving and significant rise in productivity at the workplace
Growing e-commerce industry bringing-in more automated storage solutions
The development of e-commerce industry goes hand-in-hand with prosperity of the automated storage industry. Stocking of products sold by e-commerce sellers is stored in warehouses, and to reduce time for sorting and stocking of these products, vertical lift modules seem to be the best tools. The advent of automation into other industries including manufacturing, marketing, supply chain, and more have brought a revolutionary change in the way businesses are done. Each and every aspect is now being substituted by appropriate automation mechanism that provides an opportunity to increase its work efficiency and also productivity. A spike on the demand side has forced businesses to move on to operations that take less time and increase efficiency. Also, the e-commerce industry is witnessing its peak periods and is one of the biggest users of the automated storage systems. These factors are expected to boost the vertical lift module market.
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