How big is the market for Industrial Vending Machine?

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 increased adoption of industrial vending machines for PPE.

The ongoing technological 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 have 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.

Gather more insights about the market drivers, restrains and growth of the Global Industrial Vending Machine market

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 a 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 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.

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Industrial Vending Machine Market Segmentation

Grand View Research has segmented the global industrial vending machine market on the basis of type, product, end use, and region:

Industrial Vending Machine Type Outlook (Revenue, USD Million, 2016 - 2027)

• Carousel Vending Machine
• Coil Vending Machine
• Others

Industrial Vending Machine Product Outlook (Revenue, USD Million, 2016 - 2027)

• Maintenance, Repair & Operations
• Personal Protective Equipment
• Others

Industrial Vending Machine End-use Outlook (Revenue, USD Million, 2016 - 2027)

• Manufacturing
• Oil & Gas
• Others

Industrial Vending Machine Regional Outlook (Revenue, USD Million, 2016 - 2027)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Market Share Insights

June 2018: AutoCrib Inc, a world leader in automated inventory vending machines, announced its new regional partner, AutoCrib South Asia to provide full delivery of the company’s products and services

May 2022 - W.W. Grainger (NYSE:GWW – Get Rating) had its price objective reduced by stock analysts at Morgan Stanley from $474.00 to $449.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. The brokerage currently has an “underweight” rating on the industrial products company’s stock.

Key Companies profiled:

Some prominent players in the global Industrial Vending Machine market include

• Fastenal Company
• AutoCrib, Inc.
• Apex Industrial Technologies LLC
• Silkron
• SupplyPro, Inc.
• SupplyPoint
• CribMaster
• CMT Industrial Solutions
• IVM Ltd.
• Brammer
• Grainger, Inc

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