Global Vertical Lift Module (VLM) Market Will Register at a CAGR of 7.58% by 2025, Predicts QY Research
LOS ANGELES, TOKYO and HAMBURG, Germany, June 4, 2019 /PRNewswire/ -- QY Research has published its new report titled, "Global Vertical Lift Module (VLM) Market Report, History and Forecast 2014-2025," that provides an in-depth analysis of the market by defining its key market drivers, restraints, trends and opportunities for the forecast period of 2019-2025.
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The global vertical lift module (VLM) market is expected to be valued at US$ 595.86 mn by 2025 from US$ 358.15 mn in 2018. The market will register at a CAGR of 7.58% throughout the forecast period.
Global Vertical Lift Module (VLM) Market: Drivers and Restraints
The global vertical lift module (VLM) will grow at a significant rate due to the growing adoption of VLM in various end-use industries such as automotive, healthcare, semiconductor, aviation, and electronics. Several trade shows and expos have also helped the vertical lift module (VLM) manufacturing companies to increase their customer base and significantly contributed to the growth of the market. In addition, increasing warehouse rentals, rising focus on worker safety and security, growing demand for optimizing warehouse floor space, and the benefits of utilizing vertical lift module (VLM) with comparison to conventional common wall fixed systems are the factors that are expected to propel the growth of the global VLM market in the coming years.
However, the availability of the used vertical lift modules (VLMs) is creating a negative impact on the growth of the market.
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Global Vertical Lift Module (VLM) Market: Forecast by Segments
The global vertical lift module (VLM) market is segmented based on product type and applications. Based on the applications, the market is segmented into aerospace, automotive, warehousing and logistics, industrial manufacturing, and others. The product type is segmented based on dual level delivery and single level delivery. The dual level delivery segment is likely to capture a remarkable market share in the near future due to the high demand from automotive and machine heavy equipment.
Global Vertical Lift Module (VLM) Market: Forecast by Geography
Europe is expected to grab the largest market share due to the growing automotive, heavy machinery, and the metals industries. North America is likely to show promising growth due to advanced technological developments. Asia Pacific is also expected to grow due to the increasing e-commerce, logistic, and manufacturing industries.
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Global Vertical Lift Module (VLM) Market: Leading Players
Some of the top players operating in the global vertical lift module (VLM) market are UN Industry, Kardex Remstar, RunningSys Inc., Modula, Weland Lagersystem, Hanel, Effimat Storage Technology, SSI Schaefer, ICAM, Ferretto Group, Second Institute of CETGC, Mecalux, Gonvarri Material Handling, Vidmar, and KSEC.
Global Vertical Lift Module (VLM) Market: Competitive Landscape
Major players of the VLM are focusing on the new and innovative product development of the vertical lift modules. Companies are expected to focus on mergers and acquisitions activities to enhance their presence in the competitive market. A well-structured and an efficient supply chain along with retail chain networks for VLM are the key growth strategies that are being adopted by the global vertical lift module (VLM) manufacturers to reach out to consumers.
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