Industrial vending machines provide point-of-use inventory management for industrial supplies. Workers simply scan an ID or fingerprint to issue or return items. The industrial vending system does the record keeping automatically just like a tool crib attendant. Industrial vending machines dispense maintenance, repair and operations (MRO) supplies; safety products and other highly consumable items in warehouses and other industrial settings. These machines and the processes that come with them streamline inventory management, increase accountability and reduce consumption. Employees can easily select the product they need from the vending machine, and the product dispenses automatically. This eliminates the constant inventory level monitoring for fast-moving products such as safety and consumable MRO items.
Industrial vending machines help to view inventory levels in real time, help to keep track of accurate inventory counts, vending machines assist in preventing overstocking, industrial vending machines relieve the burden of inventory management. These all parameters are expected to drive the industrial vending machine market during the forecast period. In terms of volume, global industrial vending machine market in 2016 stood at 29.95 thousand units and is expected to reach 79.96 thousand units by 2022 growing at a CAGR of 18.8% from 2017 to 2022. In terms of revenue, global Industrial vending machine market in 2016 stood at USD 73.32 Mn and is expected to reach USD 200.55 Mn by 2022 growing at a CAGR of 19.3% from 2017 to 2022.
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On the basis of type industrial vending machine can be classified as <500 kg industrial vending machine, 500-1000 kg industrial vending machine, and >1000 kg industrial vending machine. >1000 kg industrial vending machine occupied larger market share as compared to <500 kg industrial vending machine and 500-1000 kg industrial vending machine. While, 500-1000 kg industrial vending machine type is expected to grow at a faster growth rate during the forecast period. Major applications of industrial vending machine can be classified as automotive and heavy equipment, aviation and aerospace, food processing and beverage industry, medical and pharmaceuticals, energy and utilities and others. Automotive and Heavy Equipment application held the major market share while medical and pharmaceuticals application is expected to grow at a fastest growth rate during the forecast period.
Region wise global Industrial vending machine market is segmented into North America, Europe, Asia-Pacific, South America and Middle East and Africa. North America held the largest market share followed by Europe and Asia Pacific respectively. Asia Pacific is expected to grow at a fastest growth rate followed by North America and South America during the forecast period.
Some of the global major players operating in the industrial vending machine market include AutoCrib, Ferguson Enterprises Inc., Fastenal Company, Brammer, Grainger, MSC Industrial Direct, Silkron, among others. Fastenal Company is one of the major player in industrial vending machine market and has largest number of installations across the U.S.
The Global industrial vending machine market is segmented as follows:
Global Industrial Vending Machine Market: Product analysis
â€˘Â Â Â <500KG Industrial Vending Machine
â€˘Â Â Â 500-1000KG Industrial Vending Machine
â€˘Â Â Â >1000KG Industrial Vending Machine
Global Industrial Vending Machine Market: Application analysis
â€˘Â Â Â Automotive and Heavy Equipment
â€˘Â Â Â Aviation and Aerospace
â€˘Â Â Â Food Processing and Beverage Industry
â€˘Â Â Â Medical and Pharmaceuticals
â€˘Â Â Â Energy and Utilities
â€˘Â Â Â Others
Global Industrial Vending Machine Market: Region analysis
â€˘Â Â Â North America
â€˘Â Â Â Europe
â€˘Â Â Â Asia-Pacific
â€˘Â Â Â South America
â€˘Â Â Â Middle East and Africa
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