Vertical Lift Module Market: Global Size, Share, Trends, Growth and Forecast 2022-2032
Vertical Lift Module Market: Overview and Definition
The global vertical lift module market size is projected to grow at a CAGR of 9.5% during the forecast period 2022-2032. A vertical lift module can be compared to a super-sized drawer cabinet with two rows of trays one at the front and the other at the rear. There is a lift between the two rows which pulls out the individual trays and moves them to the respective position of the opening. The vertical lift module provides various benefits such as eliminates wasted floor space, increases pick rates and enhances safety features. Along with this VLM’s can accommodate any size part/piece all in one system. Such features of VLM increase the overall productivity in the manufacturing industry. Thus, the use of VLM is more in the end-use industries such as automotive, food & beverages, metals & machinery manufacturing, E-commerce, and other industries.
The Vertical Lift Module (VLM) market is a growing industry that provides automated storage and retrieval systems for industrial and commercial applications. VLMs consist of two columns of trays that are vertically arranged, with an automated lifting platform in between. These systems are used to store and retrieve a wide variety of products, including small parts, tools, and other materials. VLMs offer many benefits, such as increased storage density, improved organization, and faster retrieval times. The market for VLMs is expected to continue to grow in the coming years, driven by increased demand for automation in industrial and commercial settings, as well as advances in VLM technology.
Vertical Lift Module Market: Key Drivers
The Vertical Lift Module (VLM) market is being driven by several factors, including:
Increasing demand for automation: Companies are looking for ways to automate their storage and retrieval processes to increase efficiency and productivity.
Growing need for space optimization: VLMs provide high-density storage solutions that maximize floor space utilization, allowing companies to store more in less space.
Improved inventory management: VLMs offer real-time inventory management capabilities, providing companies with accurate and up-to-date information on their inventory levels.
Enhanced safety and ergonomics: VLMs help to reduce the risk of workplace injuries associated with manual material handling, as well as improving ergonomics by bringing items closer to the operator.
Advancements in VLM technology: The development of advanced VLM systems that incorporate features such as artificial intelligence, machine learning, and robotics is driving innovation in the industry and fueling market growth.
The increasing demand from various end-use industries can be lucrative for the vertical lift modules Market in the forecast period. VLMs are majorly used in the automotive sectors as well as machinery manufacturing industries. In order to increase the cost effectiveness, fast and safe storage and distribution solutions the companies are adopting these module systems.
The automotive industry comprises of involved in the design, development, manufacturing, marketing, and selling of motor vehicles. The automotive industry has witnessed a significant growth in production and sales in recent years mainly owing to an increased demand in emerging markets. The rise in new sales of vehicles globally will increase the demand for the Vertical Lift Modules in the forecast period. Digitalization changes the intralogistics processes which is creating an impact on the supply chain. Vertical lift modules are the solution to meet the challenges of digitization. It leads to a significant reduction in the cost. VLMs are available in different dimensions so that they can be easily used for different applications. The trend of Industry 4.0 gives an accountable surge to the industrial automation trend over the past decade. Thus, there will be a rise in sales of vertical lift modules globally.
Further, stringent government regulations for increasing workplace safety is another major factor which is driving the growth of the market. There are various accidents takes place in the manufacturing industry. The untrained labour in the factory and some manned work which needs to be done is the reason behind this. So, companies are taking more care and these VLMs are the solution for this. Thereby increasing the market of vertical lift modules.
By load capacity the below 20 tons vertical lift module is the leading because of its increasing use in small to medium retail sectors. In terms of capacity, the below 20 tons segment is having the significant share in the VLM market.
Vertical Lift Module Market: Challenges
The Vertical Lift Module (VLM) market also faces some challenges, including:
High initial investment costs: VLM systems can be expensive to purchase and install, which can be a barrier for small and medium-sized businesses.
Limited storage capacity: While VLMs offer high-density storage solutions, they may not be suitable for storing larger or bulkier items.
Maintenance requirements: VLMs require regular maintenance to keep them operating efficiently, which can be time-consuming and costly.
Integration with existing systems: Integrating VLM systems with existing warehouse management systems and other technologies can be complex and challenging.
Dependence on electricity: VLMs require a stable and reliable power supply, which can be a challenge in areas with frequent power outages or unreliable power grids.
Vertical Lift Module Market: Report Scope
Base Year Market Size
Forecast Year Market Size
Vertical Lift Module Market: Segmentation
Vertical Lift Module Market, by Delivery Type
- Single-Level Delivery
- Dual-Level Delivery
Vertical Lift Module Market Market, by Storage Type
- Non-Refrigerated Storage
- Refrigerated Storage
Vertical Lift Module Market, By Load Capacity
- below 20 tons
- 20 tons to 40 tons
- above 40 tons
Vertical Lift ModuleMarket, by Industry
- Metals & Machinery
- Food & Beverages
- Semiconductor & Electronics
- Other Industries
Vertical Lift Module Market: Regional Synopsis
The changing consumer food habits, lifestyle changes, and the ongoing trend of healthy foods are offering opportunities to the food and beverage industry. The consumers are showing concern about the ingredients in the food they consume and the production methodology. Furthermore, the technological advancement in this sector will create a huge demand for the global vertical lift module market.
North America is the dominating region in the vertical lift module market. This is due to the presence of big players in of automotive, e-commerce, logistics, aviation and others in the U.S., Canada and Mexico. Europe is the leading market in the vertical lift module followed by North America. The growing automotive sector in the Germany, UK, France, Italy and other European countries will create a huge demand for the vertical lift modules market. Asia Pacific vertical lift module market is going to be the fastest growing market due to developing manufacturing industries, huge investment by the government bodies. In Asia Pacific, China is the world’s largest exporter and world’s largest manufacturing hub. ‘Made in China 2025’ initiative will create an impact on the manufacturing units in the country. Similarly, the initiatives taken by Indian government such as 'Make in India' the logistics and manufacturing activities in the country will increase and further drive the vertical lift modules market. Increasing consumer demand in Middle East & Africa and South America will increase the demand of vertical lift module market.
Vertical Lift Module Market: Recent Developments
The Vertical Lift Module (VLM) market has seen several recent developments, including:
Introduction of advanced VLM systems: Manufacturers are introducing VLM systems that incorporate advanced technologies such as robotics, artificial intelligence, and machine learning to improve efficiency and productivity.
Integration with other systems: VLM systems are increasingly being integrated with other warehouse management systems, such as inventory management software, to provide a more seamless and efficient workflow.
Focus on sustainability: Manufacturers are developing VLM systems that are more energy-efficient and environmentally friendly, such as those that use regenerative braking systems and LED lighting.
Expansion into new markets: VLM manufacturers are expanding their offerings to new markets, such as healthcare and pharmaceuticals, which have unique storage and retrieval requirements.
Adoption of cloud-based solutions: Manufacturers are offering cloud-based solutions for VLM systems, allowing companies to remotely monitor and manage their systems from anywhere.
Vertical Lift Module Market: Key Players
- Haenel System Spa
- ICAM S.r.l.
- Toyota Industries
- Constructor Group
- Conveyor Handling Company
- Green Automated Solutions
- Lista (Switzerland), Mecalux
- Stanley Vidmar
- WelandLagersystem AB