Global Industrial Vending Machine Market Report and Forecast 2024-2032

Global Industrial Vending Machine Market Outlook

The global industrial vending machine market reached a value of about USD 3.00 billion in 2023. The market is further expected to grow at a CAGR of 8% in the forecast period of 2024-2032.

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Increasing Demand for Personal Protective Equipment to Augment the Industrial Vending Machine Industry Growth

Based on product, personal protective equipment (PPE) accounts for a significant share in the industrial vending machine industry. This can be attributed to the rise in the safety concerns for the employees across the globe. The stringent government regulations regarding safety have been a huge boost for the PPE market.

By type, coil vending machines are expected to see a robust growth in the forecast period due to the increase in demand for high-capacity industrial vending machines in several end-user industries.

The Asia Pacific to Provide Enhanced Growth Opportunities to the Industrial Vending Machine Industry

Region-wise, the Asia Pacific is expected to witness a robust growth over the forecast period owing to the growth of the manufacturing industry in countries like India and China. These machines help in increasing the efficiency of inventory management, and, thus, help the manufacturing industry increase its profit.  This is expected to be the major factor driving the growth of the industry in the Asia Pacific.

Industrial Vending Machine: Market Segmentation

Industrial vending machine is a 24*7 solution at the manufacturing site that automatically dispenses the necessary servicing and repair and operation products and conducts automated record keeping. The computer may be programmed to be accessed for a specified time frame by a single employee or group of employees, for a specific sum. This helps the company remove the excessive use of inventory. From gloves to wrenches, it can also be designed to handle irregular-sized and shaped supplies, thus, removing the need to repackage or reform items before returning them. The auto-replenishment option also comes with vending machines.

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By type, the market is divided into:

• Carousel
• Coil
• Others

Based on product, the industry can be segmented into:

• Personal Protective Equipment
• Maintenance, Repair, and Operations (MRO)
• Others

The market is divided based on end use into:

• Aerospace
• Engineering Services
• Manufacturing
• Oil and Gas
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Increasing Demand from Small and Medium Industries in Various End Use Sectors to Bolster the Growth of the Industrial Vending Machine Industry

With a rise in the number of small and medium industries all across the globe, the demand for industrial vending machines in various sectors, including aerospace, engineering services, and others, is at an all-time high. As the industries have to cater to a large customer base, the carousel vending machine has turned out to be one of the most preferred machines. This can be understood as carousel machines are small, cost-effective, and consume less energy, which make it an ideal choice for use among consumers. This has led to a significant growth of the industrial vending machine industry. However, the downside with a vending machine is the high initial cost, which may lead to its poor sales. Thus, this may hinder the growth of the industrial vending machine industry.
 
Over the forecast period, increasing demand for PPE kits and carousel vending machine is expected to favour the industry growth. The rise in technological advancements is expected to be a major trend in the coming years.

Key Industry Players in the Global Industrial Vending Machine Market

The report gives a detailed analysis of the following key players in the global industrial vending machine market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• AutoCrib, Inc 
• Airgas, Inc. 
• Fastenal Company  
• MSC Industrial Direct Co., Inc 
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report