Dublin, July 10, 2023 (GLOBE NEWSWIRE) -- The "Industrial Vending Machine Market Size, Share & Trends Analysis Report By Type (Carousel, Coil, Cabinet), By Product (MRO Tools, PPE), By End-use (Manufacturing, Oil & Gas), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global industrial vending machine market size is expected to reach USD 5.76 billion by 2030, advancing at a CAGR of 9.8% during the forecast period.
Technological improvements in vending machines have made it possible for businesses to increase the effectiveness of inventory management and track inventory consumption with real-time data analysis, which has led to market growth.
Due to their cost effectiveness, which would allow enterprises to raise their revenue, industrial vending machine use is anticipated to rise in the coming years. Also, a greater focus on worker safety encourages the usage of personal protective equipment (PPE), which in turn leads to a rise in the use of industrial vending machines for PPE.
The use of personal protective equipment, MRO tools, and other consumables and durables heavily depends on the growth of key industry sectors like automotive, construction, aviation, manufacturing, and oil and gas.
The need for industrial vending machines is anticipated to increase as these industries continue to expand due to industrialization and globalization. The continuous technological transformation in the vending sector boosts market expansion. The integration of RFID and cloud infrastructure in vending systems have made it possible to track and monitor inventory to stop fraud, including misuse and theft, further fueling the market growth for industrial vending machines.
Industrial vending machines reduce expenses by reducing employee work hours. Employee work time is well-spent when inventory is managed effectively, allowing for productive work during set working hours. Additionally, the reduction of freight costs and stock outages made possible by industrial vending machines is predicted to boost demand for these devices and subsequently support market expansion.
Furthermore, intelligent vending machines can help reduce operational costs for businesses. These machines can be remotely monitored, reducing the need for on-site maintenance and repair. Additionally, inventory tracking and real-time data analysis can be realized using these devices, enabling the expansion of the industry during the projection period.
Industrial vending machines cut costs by shortening employee shifts. Effective inventory management prevents employee downtime and permits productive work during predetermined working hours. A variety of strategies, including joint ventures, mergers, and acquisitions, are being used by product manufacturers to boost their market penetration.
Companies Mentioned
- Apex Industrial Technologies, LLC
- AutoCrib, Inc.
- Brammer
- IMC Group
- SecuraStock
- CribMaster
- Fastenal Company
- Airgas Inc.
- IVM, Inc.
Industrial Vending Machine Market Report Highlights
- The coil vending machine segment accounted for over 37.0% of the global revenue share in 2022, owing to its higher penetration across various end-use industries such as construction, manufacturing, and oil & gas
- The PPE segment accounted for the largest share of over 41.0% in 2022 due to the increased use of protective items, including hard hats, safety goggles, and safety gloves, across various industries
- The manufacturing industry is expected to expand at a CAGR of approximately 9.9% over the forecast period. This is credited to the strong growth in the manufacturing sector worldwide, especially in emerging economies
- North America accounted for the largest regional share in 2022, owing to the strong presence of key players and distributors in the region, and high awareness about these machines across various industries
- Key players are opting for various strategies, including product development, expansion to new geographic locations, and joint ventures, to increase sales and improve market share
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 125 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $2757.82 Million |
| Forecasted Market Value (USD) by 2030 | $5760 Million |
| Compound Annual Growth Rate | 9.8% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Industrial Vending Machine Market Snapshot, 2022 & 2030
2.2. Industrial Vending Machine Market - Segment Snapshot, 2022 & 2030
Chapter 3. Industrial Vending Machine Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Market Opportunity Analysis
3.4. Industry Analysis Tools
3.4.1. Porter's Five Forces Analysis
3.4.2. PESTEL Analysis
3.5. COVID - 19 Impact Analysis
Chapter 4. Industrial Vending Machine Market Type Outlook
Chapter 5. Industrial Vending Machine Market Product Outlook
Chapter 6. Industrial Vending Machine Market End - use Outlook
Chapter 7. Industrial Vending Machine Market: Regional Outlook
Chapter 8. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/9h5g1r
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