PUBLISHER: Grand View Research | PRODUCT CODE: 1530190
PUBLISHER: Grand View Research | PRODUCT CODE: 1530190
Vertical Lift Module Market Size & Trends
The global vertical lift module market size was estimated at USD 1,558.9 million in 2023 and is projected grow at a CAGR of 9.1% from 2024 to 2030. The market is experiencing significant growth due to the increasing demand for automated storage and retrieval systems (ASRS) across multiple sectors. VLMs are an integral part of modern warehousing, logistics, and distribution centers, offering efficient storage solutions that save floor space, reduce worker fatigue, and improve inventory management through automated controls.
Moreover, manufacturers are seeking ways to optimize their storage spaces. vertical lift module significantly reduces the footprint of storage areas by utilizing vertical space, which is particularly beneficial in urban areas where space comes at a premium. By automating the storage and retrieval process, vertical lift module reduces the need for manual labor, thereby decreasing the risk of workplace injuries and improving overall efficiency.
Furthermore, the surge in online shopping necessitates more efficient warehousing and distribution strategies where VLMs play a critical role by saving space and speeding up the retrieval process. There's a push within the U.S. manufacturing sector towards Industry 4.0 integrating digital technologies into manufacturing operations. VLMs enhance storage density and efficiency, aligning with the goals of modern, lean manufacturing practices.
Global Vertical Lift Module Market Report Segmentation
This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the vertical lift module market report based on delivery type, storage type, end- use, and region:
U.S.
Canada
Mexico
UK
Germany
France
Italy
Spain
Japan
China
India
Australia
South Korea
Brazil
Argentina
South Africa
Saudi Arabia
UAE