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Vertical Lift Modules Market Size Worth $2.9 billion By 2030: IndustryARC

Mar 14, 2024


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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:



  • Warehousing & Distribution is the fastest-growing segment in the Market


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.



  • Significant Advantage over Traditional Storage and Retrieval Systems


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 Market Size and Forecast

  • Vertical Lift Modules Market Trends

  • Vertical Lift Modules Market Analysis by Deployment Type


 


Vertical Lift Modules Market2024-2030: Key Highlights



  • CAGR of the market during the forecast period 2024-2030

  • Value Chain analysis of key stake holders

  • Detailed analysis of market drivers and opportunities during the forecast period

  • Vertical Lift Modules Market size estimation and forecast

  • Analysis and predictions on end users’ behavior and upcoming trends

  • Competitive landscape and Vendor market analysis including offerings, developments, and financials

  • Comprehensive analysis of challenges and constraints in the Vertical Lift Modules Market.


 


Covid and Ukrainian Crisis Impact:



  • The Covid-19 epidemic has had a significant impact on the world. The Vertical Lift Modules (VLM) market has seen fluctuations due to the COVID-19 pandemic. Initially, the market faced disruptions in supply chains, manufacturing, and distribution channels due to lockdowns and restrictions. Many industries, including manufacturing, automotive, and retail, experienced slowdowns or halts in operations, affecting the demand for VLMs. However, as the pandemic progressed, there was an increased focus on automation, efficiency, and optimizing storage spaces in warehouses. This led to a resurgence in demand for VLMs as businesses sought to enhance their logistics and inventory management systems to adapt to changing consumer behavior, e-commerce growth, and the need for more efficient storage solutions. Factors like increased adoption of e-commerce, emphasis on contactless operations, and the need for optimizing warehouse spaces have driven the recovery of the VLM market. Companies are investing in advanced VLM technologies that offer better automation, faster retrieval times, and improved inventory control systems to meet evolving market demands.

  • The Russian invasion of Ukraine, the market for Vertical Lift Modules (VLM) have been impacted, among other industries, by the situation in Russia and Ukraine. The world market was frequently unsettled due to geopolitical concerns. Because of the unstable political and economic climate, businesses have been reluctant to expand or make investments. As a result, the VLM industry's market expansion stalled or investment decisions were delayed. Currency swings were brought on by geopolitical tensions, which also had an impact on pricing tactics and import/export expenses. Businesses that worked with VLMs experienced numerous difficulties in controlling expenses when there were notable swings in the value of currency in the conflict-affected areas. The supply chains for the raw materials, parts, and completed products utilized in the production of VLMs were interrupted as a result of these tensions, which also led to conflicts or sanctions. Russia and Ukraine are major participants in international trade in a variety of resources. The major competitors concentrated on improving the VLMs, which gave the market a strong position for post-war circumstances.


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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:



  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.

  11. Toyota Industries

  12. Weland Solutions

  13. Savi Automation

  14. Vidir Vertical Solutions

  15. White Systems


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Latin America & Africa Automated Storage & Retrieval Systems Market – The Latin America & Africa Automated Storage & Retrieval Systems Market size is growing at a CAGR of 5.5% during the forecast period 2023 to 2030. Growing implementation of material handling solutions in industries has provided opportunities for storage and material handling systems systems mainly vertical modules which drive the market in near future.


About IndustryARC™:


IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets. 


IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format which assists an intelligent and informed decision-making process.


 


Contact Us:


Mr. Venkat Reddy


IndustryARC


Email: sales@industryarc.com


USA: (+1) 518 282 4727


Web: https://www.industryarc.com


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Contact Information:

Mr. Venkat Reddy

IndustryARC

Email: sales@industryarc.com

USA: (+1) 518 282 4727

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