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Industrial Vending Machine Market Trends and Distributor Analysis Report by 2027

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Henry Paul

The global industrial vending machine market size is projected to reach USD 4.6 billion by 2027. Increasing need for cost reduction among companies is anticipated to drive the market growth in the next few years. These machines help to reduce operational downtime by managing their inventories efficiently. These systems are available in various types such as coil and carousel vending machines and manufactured by OEMs to fulfill the increasing demand from several end-use verticals.

 

Growing regulations in companies for employee safety is expected to fuel market growth. In manufacturing as well as oil & gas industries, vending machines for personal protective equipment (PPE) are widely used that enables usage of helmets, goggles, and gloves. Moreover, in the aviation industry, maintenance, repair, and operations (MRO) machines are mounted at maintenance facilities, where downtime is not acceptable for business operations. Market players are developing IoT enabled vending machines that help to manage data of inventory usage as well as reduce the risk of fraudulent activities. IoT technology helps to prevent excessive expense on replenishment of inventory and supports for efficient inventory management.

 

Get Free PDF Sample Copy of the Report (Including Full TOC, List of Tables & Figures, Chart and Covid-19 Impact Analysis) : https://www.millioninsights.com/industry-reports/industrial-vending-machines-market/request-sample

 

Impact of COVID-19

Due to the sudden outbreak of COVID-19, industries such as manufacturing, aviation, and oil & gas have been disrupted in terms of social, financial, and operational consequences. This pandemic has enforced the market players to rethink contingency plans and risk management. To recover this situation, market players are solving several challenges on an immediate basis to bring their business at a normal level. Wherein, the industrial machine plays an important role in automatically tracking all information, prevent from fraud activities, and cost data such as customer numbers, cost centers, and other custom fields. In addition, during this situation, employee safety becomes a more important concern, where PPE and MRO supply is expected to gain traction. PPE though industrial vending machines helps employees to provide a safe and clean environment to mitigate safety risk. Vending machines make this PPE easily available for employees by locating the machine at the required workplace. Thus, several benefits of industrial vending machines allow employees to focus on their jobs and prevent them from the hazardous situation, thereby, expected to drive the market growth during this pandemic period.

 

The major players which are engaged in the manufacturing and equipment distribution are Fastenal Company, Auto Crib, and Grainger. In addition, these market players offer services like consulting & maintenance and supplier-agnostic solutions. Companies are striving to update their existing offerings with new technologies such as cloud-based tracking capabilities, thereby, expected to drive the industrial vending machine market growth. 

 

Further key findings from the report suggest:

  • Industrial coil vending machine market is expected to get traction during the forecast period owing to its high inventory holding capacity
  • Asia Pacific is estimated to grow with the highest CAGR of over 11%, from 2020 to 2027 owing to rising adoption of automation process across several industries.
  • Specialty manufacturing units and small and medium enterprises (SMEs) are extensively installing industrial vending systems, as it saves cost for long term.
  • In manufacturing industry, industrial vending machine is expected to witness significant growth, as it helps to monitor inventory efficiently.
  • Personal & protective equipment is estimated to grow with the CAGR of over 10.0% during the forecast period due to increasing awareness about employee safety.

 

Global Industrial Vending Machine Market: Key Players

Apex Industrial Technologies LLC; Fastenal Company; AutoCrib, Inc.; Silkron; SupplyPro, Inc.; Grainger, Inc. CribMaster; CMT Industrial Solutions; IVM Ltd.; Brammer; SupplyPoint

 

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