New York, Jan. 23, 2023 (GLOBE NEWSWIRE) -- At a predicted CAGR of 9.5%, the Industrial Vending Machine Market is expected to rise from a net worth of US$ 2.3 Billion recorded in 2022. As per the market experts at PMR, the overall valuation of the products sale is expected to reach around US$ 7 Billion by the end of the year 2032.
The global market is growing because industrial vending machines make it simple to manage and maintain MRO supplies. Among the most crucial components of the inventory is MRO tools, and managing them is crucial for a variety of end-use sectors, including manufacturing, oil and gas, automotive, and aviation.
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The demand for high-security industrial tool vending machines in data centres, the rising popularity of point-of-use inventory recording and management and digital solutions for industrial and security supplies, and the incorporation of IoT and cloud infrastructure into industrial supply vending machines are just a few of the factors contributing to the market's growth.
The widespread usage of PPE vending machines and rising worker safety concerns are the primary drivers of market development in the recent past. Governments of several industrialized nations have also made significant investments in fastener vending machine technology, which is anticipated to speed up regional market expansion.
Competitive Landscape for the Industrial Vending Machine Market
• Fuji Electric Co., Ltd.
• Royal Vendors, Inc.
• Crane Merchandising Systems
• Sanden Holdings Corporation
• Lone Star Funds
• Seaga
• FAS International S.p.A.
• Rhea Vendors Group Spa
• Azkoyen Group
• Sielaff GmbH & Co. KG
• Automated Merchandising Systems Inc.
• Bianchi Industry S.p.A.
• Jofemar Corporation
• Continental Vending Inc.
• Automatic Vending Specialists and more
among others are some of the major players in the global industrial vending machines market.
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Due to the fact that these items are now available for hire, SMEs may rent them for a profit which could open up a new avenue of opportunities for industrial vending machine manufacturers. In the upcoming years, the regional industrial vending machine market is anticipated to be driven by the growing use of industrial vending machines by small and medium-sized specialty manufacturing units in both emerging and developed areas.
Key Takeaways from the Industrial Vending Machine Market Study
- According to market research conducted in 2021, the market category for coil vending machines topped the market and accounted for nearly 38% of all sales achieved that year.
- Personal protective equipment or PPE vending machine segment growth is significantly influenced by legislation governing workplace safety and is expected to increase as a result of regulations requiring businesses to follow labor safety regulations in many industries.
- The United States held the greatest market share for industrial vending machines until last year by contributing more than 35% of the market revenue. It is also anticipated to continue to rule the market during the projected period owing to the presence of multiple notable players.
Recent developments in the Industrial Vending Machine Market Players
- FlipTop is a type of new vending machine created especially for expensive tools and accessories and was introduced by CribMaster Company in May 2021.
- By including recent improvements to SupplySystem Intelligent Software, the SupplyPro Company developed a contact tracing capability in July 2020 that is available on its sophisticated inventory tracking systems and enables users to conduct a Contact Tracing and Monitoring report.
- Rotopoint, a unique 54-column drum that allows for increased space for MRO and PPE goods to maximize inventory control and management, was introduced by SupplyPoint Company in August 2020.
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Key Questions Answered in This Report –
- What is the current size of the Industrial Vending Machine market?
- At what rate is the Industrial Vending Machine market likely to grow?
- Which type of chromatography resin accounts for a higher market share?
- Which industry drives high demand for Industrial Vending Machine?
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