Vertical Lift Module Market by Application and Geography - Forecast and Analysis 2020-2024

The vertical lift module (VLM) market size has the potential to grow by USD 758.22 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by application (automotive, food and beverage, retail, and others) and geography (Europe, APAC, North America, South America, and MEA). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including Automha SPA, Bastian Solutions LLC, Daifuku Co. Ltd., EffiMat Storage Technology AS , Ferretto Group Spa, Gonvarri Material Handling AS, Hanel GmbH & Co. Kg., Interlake Mecalux Inc., Kardex AG, Modula Inc., SencorpWhite Inc., SSI SCHAEFER Group, Stanley Black & Decker Inc., and Weland AB.

Market Overview

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Market Competitive Analysis

The market is fragmented by the presence of a few established players and small players. Small players are finding it difficult to enter the vertical lift module industry market due to the requirement of the huge amount as an initial investment. The established players are competing against their competitors in terms of product advancements. This, in turn, will help them to attain a market leader position and strengthen the competitive environment of the market. Automha SPA, Bastian Solutions LLC, and Daifuku Co. Ltd. are some of the major market participants. Although the rising warehouse capacity addition in Europe will offer immense growth opportunities, the volatility in steel price will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this vertical lift module market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this vertical lift module market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• Automha SPA
• Bastian Solutions LLC
• Daifuku Co. Ltd.
• EffiMat Storage Technology AS 
• Ferretto Group Spa
• Gonvarri Material Handling AS
• Hanel GmbH & Co. Kg.
• Interlake Mecalux Inc.
• Kardex AG
• Modula Inc.
• SencorpWhite Inc.
• SSI SCHAEFER Group
• Stanley Black & Decker Inc.
• Weland AB

Vertical Lift Module Market: Segmentation by Geography

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APAC will offer several growth opportunities to market vendors during the forecast period. Factors such as the growth in the pharmaceutical industry and the rising warehouse rentals will significantly drive vertical lift module market growth in this region over the forecast period.

37% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for vertical lift module market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Vertical Lift Module Market: Segmentation by Application

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Vehicle manufacturers are extensively investing in the European region due to the rising demand for motor vehicles and their knowledge of the European market. The demand for VLMs among auto manufacturers will also increase with the rising production of motor vehicles in Europe. VLMs are used in the automotive industry to store the components in optimal places based on their priority of requirements. The adoption of VLMs will further increase due to the growth in the electric car production in countries such as the US, China, and Japan. Therefore, the market growth in this segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the vertical lift module market size.

Vertical Lift Module Market: Key Drivers and Trends

Technavio's market research report identifies that the rising warehouse capacity addition in Europe will be one of the primary growth drivers for the global vertical lift module (VLM) market till 2024. The warehouse capacity in Europe is expanding due to the growth in the pharmaceutical and automation industry. The presence of many automotive manufacturers is high in Germany compared with other European countries. Moreover, advancements in the communication and information technology, making European countries more technologically advanced, is creating a demand for warehouses. For instance, a prominent logistics and warehouse player in Europe, known as DACHSER, is expanding its warehouse capacity across Germany, Austria, and France. Technavio's market research analysts predict that this market will grow at a CAGR of almost 11% by 2024.

The adoption of automation in warehouses by manufacturers, retailers, and wholesalers is increasing because they are focusing on attaining an increased productivity and cost-effectiveness. One of the key trends that will drive the growth prospects for the global vertical lift module (VLM) market in the forthcoming years is the rising demand for warehouse automation. The time required to restock shelves is minimized through automation in warehouses. Consequently, the need for vertical lift system will also increase for various processes such as vertical storage and order picking.

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Vertical Lift Module Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive vertical lift module market growth during the next five years
• Precise estimation of the vertical lift module market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the vertical lift module industry across Europe, APAC, North America, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of vertical lift module market vendors

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