Global Industrial Vending Machine Market Size, Share, Forecast Report, 2020-2027

The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Industrial Vending Machine Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Industrial Vending Machine market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.

The global industrial vending machine market size was valued at USD 2.2 billion in 2019 and is expected to register a CAGR of 9.6% from 2020 to 2027. Technological advancements in vending machines have enabled companies to improve the efficiency of inventory management and monitor inventory consumption. The adoption of industrial vending machines is expected to increase over the coming years due to cost efficiency, which would enable businesses to generate higher revenue. Moreover, a growing emphasis on employee safety drives the use of personal protective equipment (PPE), subsequently resulting in an increased adoption of industrial vending machines for PPE.

The ongoing technology revolution in the vending industry is expected to have a positive impact on market growth. The implementation of RFID and cloud infrastructure in vending systems has enabled the tracking and monitoring of inventory for the prevention of fraudulent activities such as misuse and theft. Furthermore, these technologies provide electronic records of the inventory status and analysis tools to offer insights to the customer for effective inventory management. The technologies further offer real-time visibility of inventory to ensure that products such as manufacturing equipment and tools are not misplaced and are readily available.

The industry is expected to gain traction owing to the growing adoption of these products by small and medium enterprises (SMEs). The availability of these products on rental basis has enabled SMEs to purchase them at a minimal cost. In addition, the ability to accrue the cost of MRO and PPE on an as-needed basis is expected to help small units minimize costs. Thus, countries in emerging regions such as Asia Pacific are expected to drive the market growth over the forecast period.

Industrial vending machines help maintain a record of inventory usage by tracking the time and identification details of the user. Moreover, they improve the company’s productivity by reducing the walk-around time of the employees, thereby increasing employee productivity. Industrial vending machines also enable the reduction of material usage, which, in turn, reduces the company’s expenses. Furthermore, industrial vending machines lower freight and stock outage costs, thereby enabling companies to prevent constant inventory replenishment and save expenses incurred on repeated inventory purchases.

Industrial vending machines can be optimized as per the production of the company to ensure the availability of the right tools and spare parts. Furthermore, increasing adoption of industrial vending machines by small and medium specialty manufacturing units is expected to drive the industrial vending machine market in the coming years. However, high cost of industrial vending machines poses a challenge for several companies, particularly small-scale companies. As the market matures over time, the high cost of industrial vending machines is anticipated to be absorbed by the rental revenue model.

The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Industrial Vending Machine market are included as given below:

Key players in the global market include Fastenal Company; AutoCrib, Inc.; Apex Industrial Technologies LLC; Silkron; SupplyPro, Inc.; SupplyPoint; CribMaster; CMT Industrial Solutions; IVM Ltd.; Brammer; and Grainger, Inc. From these companies, Fastenal Company has emerged as the dominant vending solution provider, especially in North America. Fastenal’s exceptional performance can be attributed to the unique offerings and servicing model the company has adopted in U.S.

The market is highly competitive. Entry for new players is difficult due to the high investment required for manufacturing infrastructure, such as factories and warehouses. Furthermore, existing players provide additional services such as consulting, maintenance, and supply of inventory, which creates entry barriers for new companies. Therefore, small-scale players in the market collaborate or partner with major players to enter into the industry.

The global Industrial Vending Machine market has been segmented as below:

• Type 

  • Carousel Vending Machine

  • Coil Vending Machine

  • Others

• Product 

  • Maintenance, Repair & Operations

  • Personal Protective Equipment

  • Others 

• End-use

  • Manufacturing

  • Oil & Gas

  • Others

• Global Industrial Vending Machine Market by Region
• North America
• Europe
• Asia Pacific
• Rest of the World

Reasons to Purchase this Report:

Estimates Industrial Vending Machine development trends with SWOT analysis

• Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players
• Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion
• Market dynamics scenario, along with growth opportunities for players in the years to come
• Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects