Vertical Lift Module Market Size
The Vertical Lift Module Market was worth around $1.7 billion in 2023 and is expected to grow at a rate of 8.8% per year from 2024 to 2032. Vertical lift modules (VLMs) are high-tech storage devices that enable companies use their warehouse space to its fullest. They work by exploiting vertical space well. They store things in trays that slide up and down inside a tall, closed box. When a worker needs something, the VLM swiftly transports the relevant tray to an access point, making it easy for them to get or put away things.
Think of a warehouse as a huge puzzle, with each piece standing for a distinct item. Vertical lift modules (VLMs) are like the best puzzle solvers since they mysteriously make additional room for all the components! These smart machines leverage the vertical space in the warehouse to stack things high. You can add an extra story to your warehouse without actually building one! This means that warehouses can hold a lot more things without needing more space, which makes them very efficient. Companies are always trying to find new ways to improve VLMs. They're making them so they can reach even higher, fit in small spaces, and hold more things on each tray. Some VLMs even utilize complex software to make sure everything is in the right place, so there is no wasted space. Some people can change the size of their trays or carry all kinds of things, such as puzzles, cushions, and paint cans. VLM producers are helping businesses save money and make things operate more smoothly by always updating these systems. This lets businesses store more goods in their warehouses. It's like a magic trick for making the most of space and time!
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Vertical Lift Module Market Size in 2023 | USD 1.7 Billion |
| Forecast Period | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR | 8.8% |
| 2024 – 2032 Value Projection | USD 3.6 Billion |
| Historical Data for | 2021 – 2023 |
| No. of Pages | 80 |
| Tables, Charts & Figures | 32 |
| Segments covered | By Storage Type, Delivery Type, Loading Capacity, End Use, Distribution Channel, Regions |
| Growth Drivers |
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| Pitfalls & Challenges |
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The high upfront cost is one of the biggest problems in the vertical lift module (VLM) market. Many organizations, especially smaller ones, find it hard to buy and set up these high-tech storage systems since they cost a lot of money. The price tag usually includes not only the VLM unit itself, but also the cost of shipping, installation, and sometimes even adjustments to the warehouse to make room for the new system. Some businesses may be hesitant to use VLMs since they have to spend a lot of money up front, even if they could benefit from them in the long term.
One of the problems they have in the market is that vertical lift modules (VLMs) cost more to buy than standard shelving. Some businesses may not be able to afford the upfront cost of VLMs, even if they make the most of space and boost production over time. Regular shelves are a good solution that won't break the bank.
Vertical Lift Module Market Trends
More and more firms are looking for ways to reduce space and make their warehouses and storage facilities more efficient, which is driving growth in the vertical lift module (VLM) market. One major tendency is that VLMs are using more and more advanced technologies. A lot of new models come with clever software that can keep track of inventory in real time, guess when things will be needed, and even work with other warehouse systems. VLMs are more than just storage units; they are also important pieces of a smarter, more connected warehouse.
Additionally, VLMs are also being used in workplaces, stores, and even hospitals. Companies also want more personalized VLMs that can handle certain kinds of things or fit into certain areas. As e-commerce grows, so does the need for VLMs that can quickly pick up small items for online orders. In general, the market is evolving toward VLM solutions that are more adaptable, smart, and tailored to different business demands.
Vertical Lift Module Market Analysis
The market is divided into two groups based on the kind of storage temperature-controlled refrigerators and non-refrigerators. The non-refrigerated sector had the biggest share of the market, bringing in $1.1 billion in 2023. This is expected to rise at a CAGR of 8% over the next several years.
Most things in warehouses, factories, and offices don't need to be kept cold, hence the non-refrigerated VLMs are used to store them. They can handle everything from little electronic parts to big crates of tools, supplies, or finished goods. They are useful in a lot of different fields. In manufacturing, they are commonly used to store parts; in retail backrooms, they are used to keep track of inventory; and in offices, they are used to keep track of paperwork and supplies.
Think about how you can get anything delivered to you in two different waysdirectly to your door or by going through an intermediary point first. That's pretty much what we're talking about. Most consumers like single-level delivery, which is when the package is delivered directly to them. It's like buying something online and having it sent to your home. In the realm of warehouses, this implies you have one place where you can conveniently store and get your things. Single-level delivery vertical lift modules (VLMs) give this easy and effective way to do things. They're like special machines that keep your things safe and bring them to you when you need them. You might think of it as a personal assistant for your warehouse that can get you what you need at the proper moment and height.
Europe has a huge 39% share of the worldwide vertical lift module (VLM) market in 2023. Experts say this hegemony will last, and Europe's VLM market is expected to rise by an amazing 8.2% each year from 2024 to 2032. European enterprises, especially those in Germany, Italy, and France, have eagerly adopted VLMs in their factories and warehouses. Businesses in Europe cherish the capacity to make the most of space by building up with VLMs because real estate is typically expensive there. The VLM market in Europe is known for its focus on quality and innovation, in addition to its space-saving benefits. Many of the best VLM manufacturers are based in Europe, and they are always pushing the edge with new technology to make things more efficient and user-friendly. Sustainability is another reason why Europe is adopting VLMs. These systems are popular with organizations that want to reduce their impact on the environment by saving energy and making the most use of space.
North AmericaThe U.S. had the largest share of the vertical lift module market in North America in 2023, with around 87.2% of the total. The market is predicted to grow at a CAGR of 8.5% during the forecast period. The United States is a big market for vertical lift modules (VLMs), and more and more businesses are using them. VLMs are becoming more popular with American firms, especially those in manufacturing, distribution, and e-commerce, to make the most of their storage capacity and make their operations more efficient. In the US market, there is a considerable focus on automation and compatibility with other warehouse technology.
EuropeThe European market was expected to grow at a rate of about 8.9% each year. The vertical lift model market is growing quickly because there is a growing requirement for effective storage solutions and automation in logistics and warehousing. European businesses are using VLMs to make the most of their storage space, improve picking accuracy, and simplify the way they manage their inventory.
Germany is a big player in the vertical lift module (VLM) market because it makes and uses this technology. Germany is noted for having a strong manufacturing industry and putting a lot of focus on efficiency. VLMs have been popular in numerous industries, including automotive, electronics, and logistics. German companies are generally the first to come up with new ideas for VLMs, making systems that are more automated and integrated.
Asia Pacific In terms of country, China is rapidly becoming a significant player in the vertical lift module (VLM) market. As the country's manufacturing and e-commerce sectors continue to grow, there's an increasing demand for efficient storage solutions. Chinese businesses are turning to VLMs to maximize space in their warehouses and factories, especially in crowded urban areas where land is expensive. The government's push for industrial modernization and automation has also boosted interest in VLMs.
Vertical Lift Module Market Share
Key players in the market are Auto Crib, Ferretto SpA, Hanel Buro, Kardex, and Modula Group. Together these companies have a market share of 30%-35% of the total market with fierce competition in this market and driving continuous advancements and the introduction of new features to meet the evolving demands. These companies are known for their wide range of vertical lifts products from basic models to advanced smart modules with innovative features.
Vertical Lift Module Market Companies
Major companies operating in the market include
- Auto Crib
- Conveyor Handling Company
- ELF Automation
- Ferretto SpA
- Hanel Buro
- ICAM SpA
- Kardex
- LISTA
- Macalux, SA
- Modula Group
- Rabatex Group
- SSI Schafer
- Vidir Solutions, Inc.
- Vidmar
- Weland Solutions
Vertical Lift Module Industry News
- In January 2024, Kardex Remstar, recently unveiled its next generation vertical lift module, the Kardex VLM shuttle XP, designed to offer higher storage facility and improve energy efficiency. This new model incorporates advanced automation features and real time inventory tracking capabilities making it idle for industries with high storage demands.
- In October 2023, Hanel Storage Systems, has announced the expansion of its production facility in Germany. The expansion aims to increase the company’s manufacturing capacity to meet the rising global demand for vertical lift modules.
- In December 2023, Modula entered a strategic partnership with a leading robotic form to integrate robotic picking solution with its vertical lift modules. This collaboration aims to provide fully automated storage and retrieval systems significantly improving picking speeds and accuracy in warehouses.
The vertical lift module market research report includes in-depth coverage of the industry, with estimates & forecasts in terms of revenue (USD billion) from 2021 to 2032, for the following segments
Market, By Storage Type
- Temperature-Controlled refrigerator
- Non-refrigerator
Market, By Delivery Type
- Single-level delivery
- Dual-level delivery
Market, By Loading Capacity
- Up to 500 kg/tray
- 500-700 kg/tray
- Above 700 kg/tray
Market, By End Use
- Automotive
- Food & Beverage
- Retail and Logistics
- Metals and machinery
- Chemicals
- Others
Market, By Distribution Channel
- Direct Sales
- Indirect Sales
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- MEA
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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