The Global Vertical Lift Modules Market size is predicted to reach $2.9 billion by 2030, growing at a CAGR of 6.6% during the forecast period 2024-2030. Vertical Lift Modules (VLMs) are automated storage and retrieval systems used in warehouses and distribution centers to efficiently store and manage inventory. These systems consist of vertical columns with trays or shelves that can move up and down within the structure. An automated mechanism retrieves items from the shelves and delivers them to an access point for operators. VLMs optimize vertical space by storing items in a compact, high-density manner. They utilize the full height of the warehouse, allowing for efficient use of floor space which is anticipated to propel the growth of the Vertical Lift Modules Market for the forecast period finds IndustryARC in its recent report, titled “Vertical Lift Modules Market Size, Share & Trends Analysis Report By Application, (Warehousing & Distribution, Manufacturing, Retail, Pharmaceutical & Medical Supplies, Automotive Parts Storage, Industrial Equipment Storage, Consumer Goods, Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2024-2030.”
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APAC to Register Highest Growth:
Geographically, in the global Vertical Lift Modules Market, APAC is analyzed to grow with the highest CAGR of 7.4% during the forecast period 2024-2030. Many APAC countries are experiencing rapid industrial growth. This expansion necessitates advanced storage and retrieval solutions in manufacturing, warehousing, and distribution centers, driving the demand for VLMs. There’s a growing trend toward warehouse automation in the APAC region, driven by the need for efficiency, accuracy, and reduced labor costs. VLMs are a crucial part of this automation trend. The APAC region, particularly countries like China and India, is witnessing a surge in e-commerce activity. This boom requires efficient, space-saving storage solutions in distribution centers, fueling the demand for VLMs. Companies in APAC are increasingly focusing on optimizing their supply chains, especially in the wake of disruptions caused by events like the COVID-19 pandemic. According to government data in December 2022, 194 defense startups are based in India and are developing cutting-edge technology, the FY23 budget spending has been set at Rs 5.3 trillion, an increase of 10% from the previous fiscal year as a result rising demand for VLMs. VLMs play a key role in creating efficient and resilient supply chains. There is significant investment in infrastructure development across the APAC region. This includes the development of new industrial parks and logistics hubs, which are potential markets for VLM systems.
Vertical Lift Modules Market2024-2030: Scope of the Report
| Report Metric | Details |
| Base Year Considered | 2023 |
| Forecast Period | 2024–2030 |
| CAGR | 6.6% |
| Market Size in 2030 | $2.9 million |
| Segments Covered | Application and Region |
| Geographies Covered | North America, South America, Europe, APAC, Middle East & Africa |
| Key Market Players | Companies in this industry are listed below: 1. Kardex Group 2. Hänel Storage Systems 3. Modula Inc. 4. AutoCrib Inc 5. Olpin Group 6. Mecalux 7. Vidmar 8. Lista AG 9. Ferretto Group 10. ICAM S.r.l. |
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Vertical Lift Modules Market Report – Key Takeaways:
In the Vertical Lift Modules Market Analysis, the warehousing & distribution segment is estimated to grow with the highest CAGR of 7.9% during the forecast period 2024-2030. With the surge in online shopping, there’s a heightened need for efficient warehousing and distribution centers. VLMs offer space optimization and quicker retrieval times, crucial for handling the diverse range of products in e-commerce warehouses. In urban areas where space is limited and expensive, warehouses need to maximize their storage capacity. VLMs provide a solution by utilizing vertical space efficiently, making them ideal for urban distribution centers. The need for streamlined supply chains and faster order fulfillment drives the adoption of advanced storage solutions like VLMs. These systems facilitate better inventory management, reducing picking times and enhancing overall logistics operations. Warehousing and distribution are increasingly moving toward automation for efficiency gains. VLMs automate the storage and retrieval process, minimizing human intervention and optimizing workflows.
VLMs utilize vertical space efficiently, maximizing storage capacity within a smaller footprint compared to traditional shelving or racking systems. This enables warehouses to store more items in the same area. VLMs use vertical height to store items in a compact and dense manner. They can accommodate different-sized items on trays or shelves, optimizing storage for various product types. In December 2023, the Groundbreaking Modula Vertical Lift Module for Increased Storage Efficiency was Unveiled by Greenspace Industrial. VLMs automate the storage and retrieval process, reducing the need for manual labor. Automated carriages or robotic systems retrieve items, improving picking accuracy and speed while minimizing human error. Many VLMs are integrated with inventory management software, providing real-time tracking and management of stored items. This integration enhances inventory accuracy and control. VLMs facilitate faster and more efficient access to stored items. Operators spend less time searching for items, leading to improved productivity and order fulfillment speed. VLMs present items at an ergonomic height for operators, reducing bending or reaching, thus minimizing the risk of workplace injuries. Safety features also prevent accidents during storage and retrieval.
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Key Opportunity Analysis:
Constant New Developments in Vertical Lift Modules
There’s a growing trend in integrating VLMs with sophisticated warehouse management systems (WMS) and enterprise resource planning (ERP) systems. This integration enhances inventory tracking, optimizes storage space, and streamlines order processing. Incorporation of more advanced robotics and automation in VLMs is a key development. This includes improved picking mechanisms, automated tray handling, and integration with other automated systems within the warehouse. The Internet of Things (IoT) is increasingly being utilized in VLM systems for real-time monitoring and data analysis. IoT connectivity allows for predictive maintenance, remote troubleshooting, and enhanced operational insights. Modern VLMs offer greater customization options to accommodate a wide range of product sizes, weights, and shapes. Modular designs allow systems to be expanded or reconfigured as storage needs change.
Rapid Adoption of Vertical Lift Modules in Automotive Industry
The automotive industry deals with a vast array of parts and components, varying in size and specificity. VLMs offer a solution to efficiently store and manage these diverse parts in a compact space while enabling easy retrieval. Automotive manufacturers and suppliers often face space constraints in their facilities. VLMs utilize vertical space effectively, allowing for more storage within a smaller footprint, which is especially valuable in high-cost urban areas. Automotive companies require precise inventory management to avoid delays in production. VLMs integrated with inventory software provide real-time tracking, ensuring accurate inventory control and reducing errors. VLMs align with lean manufacturing principles by minimizing waste (in this case, wasted space or inefficient storage methods) and optimizing processes for just-in-time inventory management. The rapid adoption of VLMs in the automotive sector underscores their capability to address the specific storage challenges inherent in automotive manufacturing and supply chains, leading to improved efficiency, cost savings, and enhanced inventory management within the industry.
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The Report also Covers the Following Areas:
Vertical Lift Modules Market2024-2030: Key Highlights
Covid and Ukrainian Crisis Impact:
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List of Key Market Players in Vertical Lift Modules Market:
The key companies profiled in the Vertical Lift Modules Market Report are listed below:
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