Vertical Lift Module Global Market Report 2023

Major players in the vertical lift module market are Kardex, Hänel Storage Systems, Ferretto Group SpA, Modula Group, AutoCrib, Automha Spa, Mecalux SA, Vidmar, ICAM S r l, Green Automations, Lista AG, Conveyor Handling Company, Toyota Industries Corporation, EFFIMAT, and System Ceramics SpA.

New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Vertical Lift Module Global Market Report 2023" - https://www.reportlinker.com/p06479735/?utm_source=GNW The global vertical lift module market is expected to grow from $1.28 billion in 2022 to $1.42 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The vertical lift module market is expected to reach $2.11 billion in 2027 at a CAGR of 10.3%.The vertical lift module market consists of sales of vertical lift module configurator, compact lift vertical lift module, and compact twin vertical lift module.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.The vertical lift module (VLM) refers to a vertical automated storage and retrieval system that composed of trays on the front and back and an inserter or extractor system in the middle. The vertical lift module maximizes the vertical height by using a separate tray storage system to offer a dense storage solution that greatly outperforms conventional storage techniques.Europe was the largest region in the vertical lift module market in 2022.North America is expected to be the fastest-growing region in the forecast period.The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main vertical lift module types are non-refrigerated, and refrigerated.Non-refrigerated refers to items or environments that are not cooled or maintained at a low temperature.The maximum load capacities are below 20 tons, 20 tons to 40 tons, and above 40 tons. The various configurations are internal bay (single and dual), and external bay (single and dual) and various industries are automotive, metals and machinery, food and beverages, chemicals, healthcare, semiconductor and electronics, aviation, e-commerce, and others.The thriving e-commerce industry is expected to propel the growth of the vertical lift module market going forward.The E-commerce industry refers to an industry that involves the buying and selling of goods and services over the electronic network by the Internet.The vertical lift module system is designed to improve order-picking performance by speeding up the simultaneous processing of batches in e-commerce distribution centers. For instance, in February 2023, according to the United States Census Bureau, an agency of the U.S. Federal Statistical System, estimated that e-commerce sales in the US totaled $1,034.1 billion in 2022, an increase of 7.7% compared to 2021. Therefore, the thriving e-commerce industry is driving the growth of the vertical lift module market going forward.Technological advancements are a key trend gaining popularity in the vertical lift module market.Major companies operating in the vertical lift module market are launching improved systems using automated vertical storage technology to sustain their position in the market.For instance, in February 2022, Randex Ltd., a UK-based distributor company specializing in providing office industrial retrieval office systems, launched Compact, a vertical storage lift that can support a wide variety of inventory management and stock handling processes in various types of organizations. It is built using benchmark automated vertical storage technology. By handling two load trays in one sequence, one tray is ready for picking and the other is waiting, it saves time. It also saves 90% of the floor space compared to standard shelving and pallet racking.In August 2022, RMH Systems Inc., a US-based industrial automation company acquired DAK Solutions for an undisclosed amount. Through this acquisition, RMH Systems aims to strengthen its portfolio in the Midwest’s by turnkey material handling integration and automation portfolio. DAK Solutions is a US-based company that provides warehouse automation and storage optimization solutions.The countries covered in the vertical lift module market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The vertical lift module market research report is one of a series of new reports that provides vertical lift module market statistics, including vertical lift module industry global market size, regional shares, competitors with a vertical lift module market share, detailed vertical lift module market segments, market trends and opportunities, and any further data you may need to thrive in the vertical lift module industry. This vertical lift module market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06479735/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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