The Vertical Lift Module Market is expected to be worth USD 1667.6 Million By 2025
The vertical lift module market comprises of storage systems that are automated and on operators commands are used for either storage or retrieval of products inside a warehouse for optimization and space efficiency needs. The space efficiencies achieved coupled with rising demands for strategically managed SCM by various end-user industries especially retail, e-commerce, and logistics are drastically creating opportunities for implementations of such storage systems in the recent times.
Europe, being a technologically advanced region along with high number of small and large enterprises, has witnessed highest adoptions of vertical lift modules by various organizations. North America is the second largest adopter of vertical lift module solutions, while APAC region with growing numbers of various organizations and increasing technological trends lags behind the above two regions.
Global vertical lift module market is expected to grow from US$ 743.8 million in 2016 to US$ 1667.6 million by 2025 at a CAGR of 9.5% between 2017 and 2025.
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The report focuses on an in-depth segmentation of this market based by type and end-user industry. The geographic segmentation of the report covers five major regions including; North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM).
The regional market has been further bifurcated by respective countries. By end-user automotive sector accounted for the largest share of the vertical lift module market in 2016; whereas, APAC region is expected to grow at the highest CAGR during the forecast period.
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The report aims to provide an overview of global vertical lift module market with detailed market segmentation. Also, it analyzes the current vertical lift module market scenario and forecasts the market till 2025.
The report covers market dynamics effecting the market during the forecast period. Furthermore, the report analyzes the competitive scenario, geographic trends, and opportunities in the markets with respect to all geographic regions.
The report also includes the detailed company profiles of the key players in the market along with their market strategies. The report also provide PEST analysis of all the regions covered in the report.
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Europe is one of the prominent regions in vertical lift module market which will contribute highest revenue globally due to technological developments and considerable implementation of vertical lift module solutions in different application segment. Rapidly growing economies in Asia-Pacific (APAC) with significant growth in automotive and electronic sector will pave the path for increasing adoption and propel the market for vertical lift module.
The region is expected to lead the market with highest CAGR during the forecast period.
Some of the key players of vertical lift module market include Kardex Remstar., Schaefer Group., Weland Lagersystem AB., Modula S.p.A., and SencorpWhite, among others.
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