San Francisco, 20 November 2018, The global industrial vending machines market is estimated to reach USD
1.43 billion by 2025, according to a new study by Grand View Research, Inc. The
growing need for downtime cost reduction in companies is expected to foster the
growth of the market over the forecast period.
Industrial vending machines are
expected to lower operational downtime by enabling the company to manage its
inventory efficiently. Moreover, the equipment is available in different types
such as carousel and coil vending machines. The equipment is designed by OEMs
as per the end-use. The equipment enables long-term cost saving, thereby
improving the company’s efficiency.
The increasing regulations in
companies concerning employee safety are expected to stimulate the growth of
the market. Vending machines for Personal Protective Equipment (PPE) are
increasingly being implemented in manufacturing and oil & gas companies to
enable the efficient usage of protective equipment such as gloves, goggles, and
helmets, among others. Furthermore, Maintenance, Repair, and Operations (MRO)
machines are installed at maintenance facilities in aviation industries, where
downtime affects the business operations in a significant way.
OEMs are developing industrial
vending machines that are IoT-enabled. For instance, vending machines are
connected to the internet that enables data management of the inventory usage
and the tracking of inventory to prevent fraudulent activities such as theft.
Moreover, these products are connected to the cloud to enable remote access to
data. Thus, the company can carry out effective management of the inventory and
prevent unnecessary expenses on inventory replenishment.
The market comprises a few big
players such as AutoCrib, Inc. and Fastenal Company that are mainly involved in
the manufacturing and distribution of this equipment. Additionally, these
players provide services such as consulting and maintenance.
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Report On Industrial Vending Machines Market analysis:
Further key findings from the study suggest:
·
Industrial coil vending
machines are expected to be widely adopted over the forecast period due their
large inventory holding capacity
·
Asia Pacific is expected to be
the fastest-growing regional segment, registering a CAGR of 10.3% over the
forecast period. The growth can be attributed to the increasing adoption of
automation processes across various industries in this region
·
Small and Medium Enterprises
are increasingly adopting industrial vending equipment owing to its long-term
benefits of cost saving
·
Manufacturing companies are
expected to implement vending equipment on a large scale for the efficient
monitoring of inventory
·
Personal and Protective
Equipment (PPE) is predicted to be the fastest-growing product segment,
registering a CAGR of 9.2% over the next eight years owing to the increased
emphasis on employee safety
·
Key industry participants
include AutoCrib, Inc., Apex Industrial Technologies LLC, Silkron, SupplyPro,
Inc., Fastenal Company, SupplyPoint, CribMaster, CMT Industrial Solutions, IVM
Ltd., Brammer, and Grainger, Inc., among others.
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Grand View Research At: www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the
industrial vending machines market based on type, product, end-use, and region:
Industrial Vending Machines
Type Scope (Revenue, USD Million; 2014 - 2025)
·
Carousel Vending Machine
·
Coil Vending Machine
·
Others
Industrial Vending Machines
Product Scope (Revenue, USD Million; 2014 - 2025)
·
Maintenance, Repair, and
Operations
·
Personal Protective Equipment
·
Others
Industrial Vending Machines
End-use Scope (Revenue, USD Million; 2014 - 2025)
·
Manufacturing
·
Oil & Gas
·
Others
Industrial Vending Machines
Regional Scope (Revenue, USD Million; 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
MEA
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www.grandviewresearch.com/press-release/global-industrial-vending-machines-market
www.grandviewresearch.com/press-release/global-industrial-vending-machines-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information: www.grandviewresearch.com/
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