Industrial Vending Machine Market Size, Share, Analysis 2030

Segments - Industrial Vending Machine Market by Types (Coil and Carousel), Products (Maintenance and Repair & Operations (MRO), and Personal Protective Equipment), End-Use (Manufacturing, Oil & Gas, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Rucha Phatak

Report Description

The global industrial vending machine market was valued at USD 2.08 billion in 2020 and is expected to reach USD 4.3 billion by 2028, expanding at a CAGR of 9.2% during the forecast period, 2021 – 2028. The growth of the market is attributed to growing need for cost reduction and increasing awareness about employee safety in the companies.

Industrial vending machines are devices, which provide employees involved in the manufacturing process with tools and materials to perform their duties efficiently on time. Industrial vending machines supply, store, and maintain an automatic inventory of components and tools used in manufacturing.

Industrial Vending Machine Market Outlook

Industrial Vending Machine Market Trends, Drivers, Restraints, and Opportunities:

Continuous technological revolutions in the vending industry are estimated to drive the market.
Integration of cloud and RFID infrastructure in the vending system has enabled monitoring and tracking of inventory for minimizing fraudulent activities such as theft and misuse. This is expected to boost the market.
Industrial vending machines provide real-time visibility of inventory to confirm that products such as tools and manufacturing equipment are readily available and not misplaced. Moreover, they can be optimized to confirm the availability of spare parts and tools. These factors fuel the market.
The vending machine industry is anticipated to expand, due to rising adoption of these products by small and medium enterprises.
Availability of vending machines on rental basis has helped SMEs to purchase them at minimum cost, which in turn, has propelled the market.
These machines increase productivity by minimizing the walk around time of the employees.
Industrial vending machines help to reduce the material usage, which in turn, reduces the expenses of the company.
High costs of the vending machines hinder the market growth.

Scope of the Industrial Vending Machine Market Report:

The report on the industrial vending machine market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Industrial Vending Machine Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	Types (Coil and Carousel), Products (Maintenance and Repair & Operations (MRO), and Personal Protective Equipment), End-Use (Manufacturing, Oil & Gas, and Others)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered	AutoCrib, Inc., Silkron, Fastenal Company, Apex Industrial Technologies LLC, CMT Industrial Solutions, SupplyPro, Inc., Grainger, Inc., SupplyPoint, IVM Ltd., CribMaster, and Brammer.

Industrial Vending Machine Market Segment Insights:

The coil segment held a major share of the total revenue in 2019

Based on types, the global industrial vending machine market is bifurcated into coil and carousel. The coil segment is expected to expand at a robust CAGR during the forecast period. The coil-based machines are easy to maintain and consume less power. These features make the machines economical. As a result, this segment is anticipated to boost the market during the forecast period.

Carousel vending machines are used for cutters, small testing equipment, and tools. These machines occupy less floor space and are therefore largely accepted by SMEs. Additionally, this machine is cost-efficient and economical for companies. Other types of machines involve lockers and cabinets that are custom designed based on consumer usage.

Industrial Vending Machine Market By Types

The personal protective equipment segment is expected to expand at a rapid pace during the forecast period

On the basis of products, the global industrial vending machine market is segregated as maintenance, repair & operations (MRO), and personal protective equipment. Increasing awareness about employee safety has led to the implementation of industrial vending machines to store personal protection equipment.

The maintenance and repair and operations (MRO) segment consist of tools, sealants, coatings, spare parts, testing equipment, and tool kits that are required during downtime. MRO supplies are an important part of the floor inventory. Keeping track of them is crucial for many industries such as oil & gas, aviation, and manufacturing. MRO equipment are maintained and stocked on a large scale in industries, where there is frequent downtime. These factors are responsible for the market growth.

The manufacturing segment held a major share of the total revenue in 2019

In terms of end-use, the global industrial vending machine market is fragmented as manufacturing, oil & gas, and others. The manufacturing segment is expected to expand at a high CAGR during the forecast period. Industrial vending machines are extensively used in the manufacturing sector, due to high costs associated with operational downtime. Industrial vending machines help to keep a track on the supply and ensure operational efficiency.

The oil & gas segment is projected to expand at a rapid pace during the forecast period. Growth of the segment is attributed to high cost of equipment such as PPE and drilling tools. Additionally, employee safety is of high priority in this industry, due to the hazardous work environment. The others end-use segment includes military, aviation, and defense.

The market in North America held a major share of around 40% of the total revenue in 2019

Based on regions, the global industrial vending machine market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is expected to expand at a robust CAGR during the forecast period, owing to presence of several distributors and OMEs in the region. Companies in North America are pioneers in most technologies in the manufacturing sector, which is expected to boost the market in the region.

The market in Asia Pacific is projected to expand at a robust CAGR during the forecast period. Rising number of SMEs in the region fuels the demand for industrial vending machines. Countries such as India, South Korea, and China are adopting progressive production and manufacturing practices.

Segments

The global industrial vending machine market has been segmented on the basis of

Products

Maintenance and Repair & Operations (MRO)
Personal Protective Equipment

Types

Coil
Carousel

End Use

Manufacturing
Oil & Gas
Others

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key players

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

Competitive Landscape

Key players in the global industrial vending machine market include AutoCrib, Inc., Silkron, Fastenal Company, Apex Industrial Technologies LLC, CMT Industrial Solutions, SupplyPro, Inc., Grainger, Inc., SupplyPoint, IVM Ltd., CribMaster, and Brammer. The market is highly competitive and entry for new players is difficult, as high investment is required for manufacturing. Small players in the market merge and collaborate with the major players to enter the industry.

Industrial Vending Machine Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Industrial Vending Machine Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Industrial Vending Machine Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Industrial Vending Machine Market - Supply Chain
  4.5. Global Industrial Vending Machine Market Forecast
     4.5.1. Industrial Vending Machine Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Industrial Vending Machine Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Industrial Vending Machine Market Absolute $ Opportunity
5. Global Industrial Vending Machine Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Industrial Vending Machine Market Size and Volume Forecast by Types
     5.3.1. Coil
     5.3.2. Carousel
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Industrial Vending Machine Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. Industrial Vending Machine Market Size and Volume Forecast by End Users
     6.3.1. Manufacturing
     6.3.2. Oil & Gas
     6.3.3. Others
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Industrial Vending Machine Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Industrial Vending Machine Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Industrial Vending Machine Demand Share Forecast, 2019-2026
8. North America Industrial Vending Machine Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Industrial Vending Machine Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Industrial Vending Machine Market Size and Volume Forecast by Types
     8.4.1. Coil
     8.4.2. Carousel
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Industrial Vending Machine Market Size and Volume Forecast by End Users
     8.7.1. Manufacturing
     8.7.2. Oil & Gas
     8.7.3. Others
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Industrial Vending Machine Demand Share Forecast, 2019-2026
9. Latin America Industrial Vending Machine Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Industrial Vending Machine Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Industrial Vending Machine Market Size and Volume Forecast by Types
     9.4.1. Coil
     9.4.2. Carousel
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Industrial Vending Machine Market Size and Volume Forecast by End Users
     9.7.1. Manufacturing
     9.7.2. Oil & Gas
     9.7.3. Others
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Industrial Vending Machine Demand Share Forecast, 2019-2026
10. Europe Industrial Vending Machine Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Industrial Vending Machine Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Industrial Vending Machine Market Size and Volume Forecast by Types
     10.4.1. Coil
     10.4.2. Carousel
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Industrial Vending Machine Market Size and Volume Forecast by End Users
     10.7.1. Manufacturing
     10.7.2. Oil & Gas
     10.7.3. Others
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Industrial Vending Machine Demand Share Forecast, 2019-2026
11. Asia Pacific Industrial Vending Machine Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Industrial Vending Machine Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Industrial Vending Machine Market Size and Volume Forecast by Types
     11.4.1. Coil
     11.4.2. Carousel
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Industrial Vending Machine Market Size and Volume Forecast by End Users
     11.7.1. Manufacturing
     11.7.2. Oil & Gas
     11.7.3. Others
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Industrial Vending Machine Demand Share Forecast, 2019-2026
12. Middle East & Africa Industrial Vending Machine Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Industrial Vending Machine Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Industrial Vending Machine Market Size and Volume Forecast by Types
     12.4.1. Coil
     12.4.2. Carousel
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Industrial Vending Machine Market Size and Volume Forecast by End Users
     12.7.1. Manufacturing
     12.7.2. Oil & Gas
     12.7.3. Others
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Industrial Vending Machine Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Industrial Vending Machine Market: Market Share Analysis
  13.2. Industrial Vending Machine Distributors and Customers
  13.3. Industrial Vending Machine Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. AutoCrib, Inc.
     13.4.2. Silkron
     13.4.3. Fastenal Company
     13.4.4. Apex Industrial Technologies LLC
     13.4.5. CMT Industrial Solutions
     13.4.6. SupplyPro, Inc.
     13.4.7. Grainger, Inc.
     13.4.8. SupplyPoint
     13.4.9. IVM Ltd.
     13.4.10. CribMaster