Global Industrial Vending Machine Market by Product (PPE, MRO), by Type (Coil, Carousel), by End Use (Oil & Gas, Manufacturing) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2019, the global industrial vending machine market was worth USD 2.2 billion. It is projected to grow at 9.6% between 2020 and 2027. The technological advancements made in industrial vending machines have allowed companies to increase the efficiency of inventory management and monitor their inventory consumption. Due to their cost efficiency, the adoption of industrial vending machines will increase in the future. This would allow businesses to generate more revenue. In addition, employees are more concerned about safety and use personal protection equipment (PPE). This has led to an increase in the adoption of industrial vending machines.

Market growth is expected to be influenced by the ongoing technological revolution in vending. Implementing RFID and cloud infrastructure in vending machines has enabled inventory tracking and monitoring to prevent theft and misuse. These technologies also provide electronic records of inventory status and analysis tools that offer insight to customers for efficient inventory management. These technologies also provide real-time inventory visibility to ensure that tools and equipment are always available.

This industry is expected to grow due to the increasing adoption of these products in small and medium enterprises (SMEs). These products are available on a rental basis, which has allowed SMEs to buy them at a low cost. Small units will also benefit from the flexibility to pay for MRO and PPE as needed. Market growth is expected to be driven by emerging countries such as Asia Pacific over the forecast period.

The industrial vending machine helps keep track of inventory usage and tracks the time and ID details of each user. They also increase productivity and reduce the time it takes for employees to walk around, which in turn increases employee productivity. The company can also reduce material usage with industrial vending machines, which in turn lowers its expenses. Industrial vending machines also lower freight and stock costs, which allows companies to avoid constant inventory replenishment and reduce expenses associated with repeated inventory purchases.

To ensure that the machines are available with the correct tools and spare parts, industrial vending machines can also be optimized according to the company's production. The market for industrial vending machines will continue to grow due to the increasing use of these machines by small and medium-sized specialty manufacturing units. However, the high cost of industrial vending machines is a problem for many companies, especially small-scale businesses. The rental revenue model will absorb the high price of industrial vending machines as the market matures.

Type Insights

Over the forecast period, the coil vending machine market is expected to experience the fastest growth. These machines are more efficient than other product types and hold more inventory. They also consume less power and are easier to maintain, which makes them more cost-effective. This segment is expected to be a major market player by 2027.

Products such as tools, cutters and small testing equipment can be purchased from vending machines called Carousel. These products take up less space, so they are popular among SMEs. This equipment is also cost-effective and therefore economical for businesses. Cabinets and lockers can also be custom-designed according to the end usage. These lockers and cabinets are used for MROs that are stockpiled in higher volumes and greater quantities.

Product Insights

Over the forecast period, personal protective equipment (PPE), is expected to experience remarkable growth. The implementation of industrial vending machines for personal protection equipment has been driven by the increasing importance placed on employee safety. Additionally, the increasing safety regulations for employees will drive demand for industrial vending machines to store personal protection equipment. Industry vendors also offer PPE supplies, which will increase their popularity.

Maintenance, repair and operations (MRO), which includes tools, spare parts and sealants, coatings and tool kits, are most needed during downtime. MRO equipment must be stocked on a large scale, especially in high-cost industries. MRO supplies make up a large part of floor inventory. Therefore, tracking them is crucial for many industries, including manufacturing, oil and natural gas, aviation, and other sectors. MRO supplies can be tracked and maintained easily by industrial vending machines, which helps drive segment growth.

End-use Insights

In 2019, the largest industrial end-use for industrial vending machines was manufacturing. Due to the high cost of downtime, industrial vending machines are popular in the manufacturing industry. The machines can also be used to improve productivity and track the usage of supplies. Due to the many manufacturing SMEs located in North America, North America will experience lucrative growth.

Due to high costs of equipment, such as drilling tools or PPE equipment, oil and gas will be the fastest-growing segments over the forecast period. Because of the hazardous work environment, safety is an important priority for this industry. Aviation and military and defence are also end-use industries. These industries are attracted to industrial vending machines because of the high costs associated with unplanned downtime.

Regional Insights

North America held the largest market share, with over 40% of the market in 2019, thanks to the presence and distribution of many OEMs and distributors located in the region. North American-based companies are the pioneers of many technologies in the manufacturing sector, which contributes to the expansion of the region's market. The demand for industrial vending machines in the region is driven by growing concerns about worker safety and dangerous work environments.

Asia Pacific will be the fastest-growing region over the forecast period. Product demand is driven by the increasing number of SMEs within the region. Many OEMs are also found in countries like Japan and China, which is driving regional market growth. The region will gain momentum as countries like South Korea, India, China and China adopt new manufacturing and production methods.

Market Share in Industrial Vending Machines

The key players in the global market are Fastenal Company, Apex Industrial Technologies LLC, Silkron, SupplyPro, Inc., SupplyPoint, CribMaster, CMT Industrial Solutions, IVM Ltd., Brammer, and Grainger, Inc. The unique offerings and service model Fastenal has implemented in the U.S. can explain Fastenal's extraordinary performance.

This market is extremely competitive. The high cost of manufacturing infrastructure such as warehouses and factories makes it difficult for new players to enter the market. Existing players also offer additional services, such as inventory supply, maintenance and consulting. This creates barriers to entry for new businesses. To enter the industry, small-scale market players often partner or collaborate with large players.

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional and country level and offers an analysis of industry trends for each sub-segment from 2016 to 2027. Grand View Research has divided the report on global industrial vending machines market by type, product, end-use, and region.

• Type Outlook (Revenue USD Million, 2016-2027)

  • Carousel Vending Machine

  • Coil Vending Machine

  • Other

• Product Outlook (Revenue USD Million, 2016-2027)

  • Maintenance, Repair & Operations

  • Personal Protective Equipment

  • Other?

• End-use Outlook (Revenue USD Million, 2016-2027)

  • Manufacturing

  • Oil & Gas

  • Other

• Regional Outlook (Revenue USD Million, 2016-2027)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

Up Market Research published a new report titled “Industrial Vending Machine Market research report which is segmented by Product (PPE, MRO), by Type (Coil, Carousel), by End Use (Oil & Gas, Manufacturing), By Players/Companies Fastenal Company; AutoCrib, Inc From these companies, Inc; Apex Industrial Technologies LLC; Silkron; SupplyPro, especially in North America Fastenal’s exceptional performance can be attributed to the unique offerings and servicing model the company has adopted in the US, Inc; SupplyPoint; CribMaster; CMT Industrial Solutions; IVM Ltd; Brammer; and Grainger, Fastenal Company has emerged as the dominant vending solution provider”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Industrial Vending Machine Market Report Segments:

The market is segmented by Product (PPE, MRO), by Type (Coil, Carousel), by End Use (Oil & Gas, Manufacturing).

Industrial Vending Machine Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Industrial Vending Machine Market

Overview of the regional outlook of the Industrial Vending Machine Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Industrial Vending Machine Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Industrial Vending Machine Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. PPE

                2. MRO

                1. Coil

                2. Carousel

                1. Oil & Gas

                2. Manufacturing

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Industrial Vending Machine Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Industrial Vending Machine Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.