Industrial Vending Machines Market: Size and Growth Analysis

The “Industrial Vending Machines Market Research Report Overview by 2024” market size is reached USD 2,365.0 million by 2020 and it is projected to reach USD 4,164.5 million by 2028 between the forecast period and expected Compound annual growth rate of 7.5% between the forcast period by (2020-2028).

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Industrial Vending Machines Market Share, Size & COVID-19 Impact Analysis, By Type (Carousel Vending Machine, Coil Vending Machine, and Others), By Product (Maintenance, Repair and Operations (MRO), Personal Protective Equipment (PPE), and Others), By End-User (Manufacturing, Oil & Gas, and Others) and Regional Forecast Between, 2021-2028

Major Keyplayers of industrial vending machines market:

Some of the key players operating in the global industrial vending machines Industry are:

• Fastenal Company (Minnesota, United States)
• AutoCrib, Inc. (California, United States)
• IVM Ltd. (Indiana Polis, United States)
• Apex Industrial Technologies LLC. (Ohio, United States)
• Silkron (Penang, Malaysia)
• SupplyPro, Inc. (California, United States)
• SupplyPoint (Rugby, United Kingdom)
• CribMaster (Marietta, Georgia)
• CMT Industrial Solutions (South Carolina, United States)
• Brammers (London, United Kingdom)

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Key industry developments of industrial vending machines market:

• Fastenal purchased an undisclosed amount of assets from Apex Industrial Technologies, a provider of industrial vending solutions, aiding the company to enhance its business operations
• AutoCrib introduced a next-generation enterprise inventory management software named Arcturus, a cloud-based platform that integrates with the ERP software to maintain the track of inventories of the vending machines

Drivers and restraints of industrial vending machines market:

• Drivers:
  • Increased Efficiency: Industrial vending machines enhance inventory management and reduce downtime by providing on-demand access to tools, parts, and supplies, improving overall operational efficiency.
  • Technological Advancements: Innovations such as real-time tracking, automated inventory management, and remote monitoring capabilities boost the functionality and appeal of industrial vending machines.
  • Focus on Cost Control: Companies seek to control costs and reduce waste through automated inventory tracking and better management of spare parts and consumables, driving demand for vending solutions.
  • Improved Workplace Safety: Industrial vending machines ensure that employees have easy access to safety equipment and personal protective gear, promoting a safer work environment.
  • Expansion in Manufacturing and Industrial Sectors: Growth in manufacturing and industrial activities increases the need for efficient inventory management solutions, driving the adoption of industrial vending machines.
• Restraints:
  • High Initial Investment: The significant cost of purchasing and installing industrial vending machines can be a barrier, especially for smaller businesses or operations with tight budgets.
  • Maintenance and Operational Costs: Ongoing maintenance, service, and operational costs can impact the overall cost of ownership and affect the financial viability of using vending machines.
  • Integration Challenges: Integrating vending machines with existing inventory management systems and workflows can be complex and require additional technical expertise and resources.
  • Technological Obsolescence: Rapid advancements in vending machine technology may lead to obsolescence of existing models, necessitating frequent upgrades or replacements to stay competitive.
  • Limited Product Range: The range of products that can be effectively managed and dispensed by vending machines may be limited, impacting their suitability for certain types of industrial environments.

Regional Insights:

• North America (By Type, Product, End-User, and Country)
  • The U.S. (By Product)
  • Canada (By Product)
• Europe (By Type, Product, End-User, and Country)
  • The UK (By Product)
  • Germany (By Product)
  • France (By Product)
  • Italy (By Product)
  • Rest of Europe
• Asia Pacific (By Type, Product, End-User, and Country)
  • China (By Product)
  • Japan (By Product)
  • India (By Product)
  • Southeast Asia (By Product)
  • Rest of Asia Pacific
• The Middle East & Africa (By Type, Product, End-User, and Country)
  • GCC (By Product)
  • South Africa (By Product)
  • Rest of the Middle East & Africa
• Latin America (By Type, Product, End-User, and Country)
  • Brazil (By Product)
  • Mexico (By Product)
  • Rest of Latin America

Table of Contents:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Industry Developments – Merger, Acquisitions, and Partnerships
  • Porter’s Five Forces Analysis
  • SWOT Analysis
  • Technological Developments
  • Value Chain Analysis

TOC Continued…!

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