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Browse in-depth TOC on "Industrial Vending Machine Market"
115 – Tables
65 – Figures
215 – Pages
Industrial Vending Machine Market Report Scope:
Report Coverage |
Details |
Market Revenue in 2024 |
$ 1.6 billion |
Estimated Value by 2029 |
$ 2.5 billion |
Growth Rate |
Poised to grow at a CAGR of 10.1% |
Market Size Available for |
2020–2029 |
Forecast Period |
2024–2029 |
Forecast Units |
Value (USD Million/Billion) |
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered |
By Type, Product Type, Offering, Industry and Region |
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge |
Complexity of implementation |
Key Market Opportunities |
Increasing popularity of carousel vending machines among SMEs |
Key Market Drivers |
Rising use of smart vending machines with cloud and loT integration |
The market for hardware segment is expected to gain the largest market share during the forecast period.
A vending machine is manufactured using galvanized steel and plastics, such as Lexan, acrylic powder coatings, and polyurethane insulation. The parts manufactured using these materials are used both inside and outside a vending machine. Galvanized steel forms a major part of an industrial vending machine. Its thickness ranges from 10 to 22 gauge—thick gauges are used to make internal tanks and external doors, whereas thin gauges are used for making interior doors and plates, can stacks, coin validators, and product tray mechanisms. Galvanized steel is known for its protective coating of zinc. Thus, manufacturers highly use galvanized steel to protect the machine from rusting. Acrylic powder coatings are used to paint the vending machines.
Vertical lift machines segment is expected to hold a substantial market share during the forecast period.
The growing need to optimize warehouse floor space, rising warehouse rentals, increasing focus on worker safety and security, and benefits associated with the deployment of VLMs compared to standard shelving systems are driving the growth of the VLM segment. The requirements from various end-user industries are changing rapidly, especially in the oil & gas industry. The vertical lift module is a flexible system that can cope with the changes and help in reducing costs. Vertical lift machines provide inventory accountability, order tracking capability, and efficient and accurate order management in the oil & gas industry. With the help of vertical lift modules, one can manage multiple orders while incorporating batch picking and/or kitting with zero picking errors and less requirement of storage space and workforce. Reliable and space-saving vertical lift modules enhance the efficiency of a warehouse of a manufacturing company, as well as increase the picking accuracy and help to create a clean and secure environment to house everything from small parts to large tools.
Construction industry segment is to grow at an impressive CAGR during the forecast period.
Construction is one of the fast-growing industries that has the problem of tool shrinkage. Hence, it is necessary to have smart inventory management systems to keep track of equipment. The industrial vending machines not only provide centralized tool storage and retrieval but also have software that report real-time data for every item in the inventory to keep track of where items are, who has checked it out, and what job it has been assigned to. Industrial vending machines have a prominent usage in the rail/transit sector. Whether freight, light, transit, or long-distance passenger rail, all facets of the rail industry have extensive maintenance tracking requirements and until now had little means for effective management of these areas.
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Asia Pacific is expected to hold a significant market share of the industrial vending machine market during the forecast period.
The industrial vending machine industry in Asia Pacific has been studied for China, Japan, India, and Rest of Asia Pacific. China is among the fastest-growing economies in Asia Pacific, owing to its large population base, followed by India. Japan is a smaller country with respect to geography but is a developed country and technologically advanced as compared with most countries in Asia Pacific. The industrial vending machine market in Asia Pacific is growing rapidly owing to the increasing demand for these systems in countries such as China, Japan, and India. Technological advancements, increasing sales of industrial vending machines, product launches & developments by small- and medium-sized players, and growing use of coil/helix vending machines for food and beverage applications are expected to fuel the growth of the industrial vending machine market in Asia Pacific.
Key Players
The key players in the industrial vending machine companies include Fastenal Company (US), Airgas, Inc. (US), RUBIX GROUP (UK), MSC Industrial Direct Co., Inc. (US), Turtle (US), W.W. Grainger, Inc. (US), and others.
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