Industrial Vending Machine Industry Overview
The global industrial vending machine market size is estimated to reach USD 4.6 billion by 2027, registering a CAGR of 9.6% from 2020 to 2027, according to a new study by Grand View Research, Inc. The increasing need for downtime cost reduction in companies is expected to drive the growth of the market over the forecast period. Industrial vending machines are expected to lower operational downtime by enabling companies to efficiently manage their inventory. Moreover, these systems are available in different types such as carousel and coil vending machines and are designed by original equipment manufacturers (OEMs) to cater to diverse requirements across various end-use industries.
Increasing regulations in companies concerning employee safety are expected to drive the growth of the market. Vending machines for personal protective equipment (PPE) are increasingly being implemented in manufacturing and oil and gas companies to enable the efficient usage of protective equipment such as gloves, goggles, and helmets. Furthermore, maintenance, repair, and operations (MRO) machines are installed at maintenance facilities in aviation industries, where downtime is unfavorable for business operations.
Industrial Vending Machine Market Segmentation
Grand View Research has segmented the global industrial vending machine market report on the basis of type, product, end use, and region:
Based on the Type Insights, the market is segmented into Carousel Vending Machine, Coil Vending Machine, and Others.
- The coil vending machine segment is expected to register the highest growth rate over the forecast period. These machines hold more inventory compared to other product types, consume less power, and are easy to maintain, making them more economical.
- Carousel vending machines are used for products such as tools, cutters, and small testing equipment. These products occupy less floor space and are therefore widely adopted by SMEs. Moreover, this equipment is cost-efficient and hence economical for companies.
Based on the Product Insights, the market is segmented into Maintenance, Repair & Operations, Personal Protective Equipment, and Others.
- MRO supplies are also an important part of the floor inventory and hence tracking them is essential for many industries such as manufacturing, oil and gas, and aviation. Industrial vending machines provide an easy way to track and maintain MRO supplies, thereby driving the segment growth.
- The personal protective equipment (PPE) segment is expected to witness remarkable growth over the forecast period. Growing emphasis on employee safety has driven the implementation of industrial vending machines to store personal protection equipment.
Based on the End-use Insights, the market is segmented into Manufacturing, Oil & Gas, and Others.
- Manufacturing was the largest end-use segment for industrial vending equipment in 2019. Industrial vending machines are widely adopted in the manufacturing sector owing to the high costs associated with operational downtime.
- Oil and gas are expected to emerge as the fastest-growing segment over the forecast period owing to the high cost of equipment such as drilling tools and PPE equipment. Furthermore, employee safety is a high priority in this industry due to its hazardous work environment.
Industrial Vending Machine Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile
The market is highly competitive. Entry for new players is difficult due to the high investment required for manufacturing infrastructure, such as factories and warehouses. Furthermore, existing players provide additional services such as consulting, maintenance, and supply of inventory, which creates entry barriers for new companies.
Some prominent players in the global Industrial Vending Machine market include
- Fastenal Company
- AutoCrib, Inc.
- Apex Industrial Technologies LLC
- SupplyPro, Inc.
- CMT Industrial Solutions
- IVM Ltd.
- Grainger, Inc
Order a free sample PDF of the Industrial Vending Machine Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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