Trends in Vertical Lift Module

1. Trends inVerticalLift Module By 2030, the global vertical lift module market is expected to be worth roughly US$ 3.1 billion, increasingat a Compound Annual Growth Rate of 9%from2021 to 2030.Therise in demand for automated storage systems, the e-Commerce sector, major expansion in the warehouses, the spreading applicationsin numerousend-use sectors, and technological improvementsare all contributing to market growth. One of the primary aspects that will continue to present chancestothecompetitorsfunctioninginthecurrentverticalliftmodulemarketenvironment is the introductionofIndustry4.0across the industrialsectorglobally. Thevertical liftmodule(VLM)isastorage systemthatcomprises twoparallelcolumns separated into fixed shelf locations, each of which can accommodate a single storage module such as a tray. With the push of a button on a control device, these modules store products on traysandsendthem toanergonomicallypositionedwork counter. Due to the presence of a prominent customer base in the region, Asia Pacific accounted for a significant shareof thevertical lift modulemarket in2019 and isexpected to continueto be the leading region for verticallift modules.In the Asia Pacific (Asutralia), China, India,Korea, and Japan are key vertical lift modula markets. The vertical lift module market will be driven by ahighdemandforwarehouse management andanincrease inthe numberofWMS providersin

2. the region. The number of small-scale vertical lift producers in the Asia Pacific (Australia) is rapidlyincreasing,andthis trendis expectedtocontinueinthenearfuture. MarketTrends Vertical lift modula are in high demand because of the rise of the healthcare, pharmaceutical, andelectrical/electronicindustries.The rapidexpansionin theinstallationofverticallift module systems for picking and handling products in the retail sector, food and beverage, and hospitals in recent years is expected to drive demand for vertical lift modules. The expanding global retail businessnecessitatesthe constructionof more warehousesin order to better manageeffective andoptimallogistics. Drivers,RestraintsandOpportunities The rapid increase in the installation of automated storage and retrieval systems in various sectorsorindustriessuch asautomotive,aviation, metalengineering, healthcare,ande- Commerce in recent years is expected to be one of the major factors driving the market for vertical lift module systems during the forecast period. Vertical lift modules assist businesses in efficientlyandeffectivelymanagingtheir stocks.Thesesystemsareperfectformaximising space usage, increasing productivity, and lowering costs by reducing the number of unneeded parts anditems instorage. Technologicalimprovementsandnewproductsandservicesimprovewarehousing system accuracy, productivity, and efficiency.Manufacturing businessesarespendinga lotof money on R&D to bring cutting-edge technology and new product development, which will help them extendtheirproduct portfolioandenhancetheirpresent items. COVID19Impacts: In 2020, the worldwide vertical lift modula market is likely to be moderately impacted by the start of the novel COVID-19 pandemic. Uncertainty in the industry, fluctuating economic trends, and severe lockdown measures implemented by governments around the world to prevent the spreadofthenovelvirusarejust afewofthesignificant reasonsprojected tostiflethe worldwide verticalliftmodule market's growth. In the first quarter of 2020, demand for vertical lift modules decreased significantly. However, due to an increase in the number of e-Commerce orders and online purchases, demand for verticalliftmodulahasremainedstable throughout warehousesinvariouslocations.

3. IncreasedFocusonAutomatedStorageSystemsforGlobalMarket The automatedstoragetrendhasacquiredsignificanttractionintheworldwideindustrial sector during the last decade. Vertical lift modula has emerged as a suitable automated storage technology as the need for vertical carousels continues to expand. Vertical lift modules have a number of benefits, including high-density storage of slow-to-medium-speed objects, complete inclosureandlockable accessforsecurity,andoptimalstorageinasmallstoragestructure. Wave picking, batch picking, consolidation, replenishment, and sorting are just a few of the applications where vertical lift modules have gained a lot of traction. During the assessment period, the increased usage of height sensors in new vertical lift modules is likely to improve demand forverticallift modules.Furthermore,the globalverticalliftmodulemarketis expectedtodevelopduetothe risinguseofcomputersoftware inverticallift modules. Vertical life module trays are usually utilised for heavy products and provide dynamic storage. During theprojectedperiod,theincreased emphasison automatedstorageacrossthe industrial sector is expected to drive demand for vertical lift modula significantly. Vertical lift moduleapplicationsin warehousesacrossnumerous industriesarecontinuingtogrow, resultinginincreaseduse ofverticallift modules. ProminentRegions Inthe year2019,AsiaPacific wasthelargestand fastest-growingmarketforverticallift modules. Australia, China, India, Japan, and Korea are key verticalliftmodule markets in the AsiaPacific,andtheyareresponsible fortheregion'srecent verticalliftmodulemarket expansion. The vertical lift modula market is predicted to increase because of the high demand forwarehouse management andthegrowingnumberofWMSprovidersinthe region. CompetitiveLandscape This section of the article outlines the market's major manufacturers. It assists the reader in comprehendingthestrategiesandcollaborationsusedbycorporationstocombatmarket competition.Thein-depthexaminationexaminesthe marketata microscopiclevel. The market's innovative trends and advancements, mergers and acquisitions, product portfolio, and new product innovations are expected to provide a dashboard view of the market, giving readersan accurate gaugeofcurrentmarketchanges,companystrategies,and criticalfinancial.

4. Secondary sources are used to determine major manufacturers' revenues, percentage splits, market shares, growth rates, and product market breakdowns, which are then verified using primary sources. • To estimate and validate the worldwide market size for a company, regional division, product type and application (end users), and other segments, top-down and bottom-up methodologies areutilised. • CompanyOverview • CompanyMarketShare • Products • FinancialRecords • NewestInitiatives • KeyStrategies • TheVendorLandscape • SupplierList • BuyersList • Hänel Storage Systems, Kardex, Remstar andModulaare some of the major players in the globalverticalliftmodule market. • VerticalLift Module MarketSegmentation • ByType: • Non-Refrigerated Refrigerated/TemperatureControlled • By Configuration: Internal Bay Single Dual ExternalBaySingleDual • ByMaximumLoadCapacity: • Below20Tons • 20Tonsto40tons • Above40Tons • ByIndustry: MachineryandMetal FoodandBeverages

5. Automobile Electronics Healthcare Logistics Retails Others(Chemicals,Aerospace,etc) ByApplications: Wave Batch Picking Sorting Consolidation Replenishment Others (MRO,etc) Reference:https://www.verticalcarouselsaustralia.com/vertical-lift-module/ VerticalCarouselsAustraliaPty Ltd 13StarkeyStreetHurlstoneParkSydneyNSW 2193,Australia 0477577050 joefaranda@outlook.com https://www.verticalcarouselsaustralia.com