The new report by Expert Market Research titled, ‘Global Industrial Vending Machine Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global industrial vending machine market, assessing the market based on its segments like applications, manufacturing process and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 2.38 billion
- Forecast CAGR (2021-2026): 8%
- Forecast Market Size (2026): USD 3.78 billion
Over the forecast period, increasing demand for PPE kits and carousel vending machine is expected to favor the industry growth. The evolution in technological advancements is predicted to be a significant trend in the coming years. Companies have been able to increase inventory control performance and track inventory usage thanks to technological advances in vending machines. Due to their cost effectiveness, industrial vending machines are projected to become more common in the coming years, allowing companies to produce more sales. Furthermore, a growing focus on employee safety encourages personal protective equipment (PPE), which leads to a rise in the use of commercial vending machines for PPE.
Industry Definition and Major Segments
An industrial vending machine is a 24-hour-a-day, seven-day-a-week solution for manufacturing sites that automatically dispenses required maintenance, repair, and operation goods while still maintaining electronic records. The machine may be configured to allow a single employee or a group of employees to use it for a certain amount of time in exchange for a certain amount of money. This aids the organization in reducing inventory overuse. It can be equipped to accommodate irregular-sized and molded supplies, such as gloves and wrenches, eliminating the need to repackage or reform objects before returning them. Vending machines are included in the auto-replenishment option.
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By type, the market is divided into:
- Carousel
- Coil
- Others
Based on product, the industry can be segmented into:
- Personal Protective Equipment
- Maintenance, Repair, and Operations (MRO)
- Others
The product finds wide applications in the following:
- Aerospace
- Engineering Services
- Manufacturing
- Oil and Gas
- Others
By region, the industry is categorised into:
- North America
- Europe
- The Asia Pacific
- Latin America
- The Middle East and Africa
Market Trends
The rising need to reduce production downtime costs in various industry verticals is a key factor propelling the demand for industrial vending machines. An industrial vending machine is a 24-hour-a-day, seven-day-a-week solution for manufacturing sites that automatically dispenses required maintenance, repair, and operation goods while still maintaining electronic records. The machine may be configured to allow a single employee or a group of employees to use it for a certain amount of time in exchange for a certain amount of money. The adoption of more reliable record management strategies is rising in the manufacturing, aerospace, engineering services, and oil and gas industries.
Key Market Players
The major players in the market are IVM Ltd., CMT Industrial Solutions, SupplyPoint, Silkron, MSC Industrial Direct Co., Inc, AutoCrib, Inc, Airgas, Inc., Fastenal Company, among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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