Industrial Vending Machines Market to Reach $4,164.5 million by 2028; Launch of AutoCrib’s Arcturus to Promote Expansion

The global industrial vending machines market size is expected to reach USD 4,164.5 million by 2028. The growing implementation of PPE and MRO tools for swift inventory management process will favor the growth of the market in the near future, mentioned in a report, titled “Industrial Vending Machines Market Size, Share & COVID-19 Impact Analysis, By Type (Carousel Vending Machine, Coil Vending Machine, and Others), By Product (Maintenance, Repair and Operations (MRO), Personal Protective Equipment (PPE), and Others), By End-User (Manufacturing, Oil & Gas, and Others) and Regional Forecast, 2021-2028.” The market size stood at USD 2,365.0 million in 2020 and is predicted to exhibit a CAGR 7.5% between 2021 to 2028.

Inventory Management Solutions of Fastenal to Strengthen Its Market Outlook

Fastenal, an American multinational company recently hit a milestone with the installation of three additional devices at the Pierce Manufacturing facility in Appleton, Wisconsin. With a total 100,000-plus active device for the industrial vending program, the company has established its footprint in the vending industry. The evolutionary step by Fastenal for leveraging nationwide branch network and inventory management in critical aspects of the program can subsequently offer an impetus to the industrial vending machines market growth.

Moreover, the company’s aim for industrial automation with its ‘FAST 5000’ to 23 specialized devices and other range of products will propel the market in the forthcoming years. Furthermore, the eminence of vending services by the company will enable speedy expansion of the market in the foreseeable future. Additionally, the introduction of technologically advanced and innovative software for industrial vending machines will further enhance the potential of the market in the near future. For instance, in March 2019, AutoCrib, a major provider of industrial vending solutions announced the launch of an ultra-modern enterprise inventory management software called Arcturus, a cloud-based program that utilizes ERP software to retain and track inventories of the vending machine.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industrial-vending-machines-market-103176

Rising Emphasis on Employee Safety to Enhance Market Potential

The booming automotive, aviation along with oil and gas, welding, military and defense, and other manufacturing industries will incite market development. The implementation of technological solutions to improve high work efficiency in various industries will bolster the healthy growth of the market. The increasing adoption of PPE and MRO tools for employee safety and protection against accidents at the manufacturing site will propel the market during the forecast prototype items include safety helmets, eye protection goggles, footwear, safety harnesses, and respiratory protective equipment to reduce the risks of accidents at workplace.  For instance, the Occupational Safety and Health Act of 1970 has minimize workplace accidents in the United States for the last 4 decades, including industry-specific safety guidelines for construction, manufacturing, and maritime sectors.

Robust Vending Programs by Market Players to Consolidate Position

The key market players such as Fastenal, AutoCrib, IVM, and Apex Industrial Technologies are focused on the technological revolution by integrating their industrial vending systems with cloud infrastructure and RFID tags. For instance, Fastenal’s stock keeping units (SKU) range is incorporated with sensor-based measurement technologies for faster and simpler transactions. The advanced features of industrial vending machines with ease in workflow alongside up-to-date reports of the tool consumption will positively escalate market demand.

The enhancement in the product portfolio of industry players to cater to the industrial customer base will strengthen its position in the market. for instance, Apex Industrial Technologies integrates its industrial vending systems with Trajectory Cloud software and Apex Connect n’ Go Technology offering deep insights over stock replenishment, reorder points, usage patterns, and device service needs.

The Report Lists the Main Companies in the Global Market:

• Fastenal Company (Minnesota, United States)


• AutoCrib, Inc. (California, United States)


• IVM Ltd. (Indiana Polis, United States)


• Apex Industrial Technologies LLC. (Ohio, United States)


• Silkron (Penang, Malaysia)


• SupplyPro, Inc. (California, United States)


• SupplyPoint  (Rugby, United Kingdom)


• CribMaster (Marietta, Georgia)


• CMT Industrial Solutions (South Carolina, United States)


• Brammers (London, United Kingdom)

Further Report Findings:

• Regional Analysis:  The market in Asia Pacific stood at USD 731.9 million in 2020 and is predicted to remain dominant during the forecast period. The growth in the region is attributed to the rising adoption of vending machines to enhance productivity and efficiency industry processes. The increasing technological advancement in industrial automation will simultaneously foster the healthy growth of the market.


• Leading Segment: Personal protective equipment (PPE) is expected to hold the largest IVM market share owing to its high adoption such as helmet, gloves, tinted glass welding masks, and others for employee safety in industries.

The Market is Segmented into: