Industrial Vending Machine Market

Industrial Vending Machine Market Size, Share, Industry Growth and Trends by Type (Vertical Lift, Coil, Carousel, Scale, Locker, Drawer), Product Type (PPE, Hand Tools, Power Tools, Industrial Supplies, Fastening, General Supplies), Offering, Industry and Region - Global Forecast to 2029

Report Code: SE 7963 May, 2024, by

[215 Pages Report] The global industrial vending machine market size is expected to grow from USD 1.6 billion in 2024 to USD 2.5 billion by 2029, at a CAGR of 10.1% from 2024 to 2029. A key trend is the Internet of Things (IoT). IoT devices offer valuable monitoring, control, optimization, and autonomy to a firm. The number of devices that are part of the IoT is increasing exponentially. Companies have been providing smart dispensing technology and internet-based software for many years.

Industrial Vending Machine Market

Industrial Vending Machine Market

Industrial Vending Machine Market Forecast to 2029

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Industrial Vending Machine Market Dynamics

DRIVERS: Rising use of smart vending machines with cloud and loT integration

The industrial vending machine market has gained significant impetus with the emergence of advanced technologies. The integration of RFID tags and cloud infrastructure into industrial vending machines to provide a multi-lingual display system is expected to create growth opportunities for the market in the coming years. For instance, IVM Zrt. (Hungary) provides industrial vending machines that are integrated with SaveLog software, that has the capability to record each transaction with the use of RFID tags. The industrial vending machines are being used in manufacturing facilities due to their benefits, such as less energy consumption and cost-effectiveness, and rising focus of companies from different industries on reducing the management inventories are expected to increase their sale in the future.

RESTRAINTS: Complexities of inventory control for a variety of manufacturing supplies

The manufacturing industry is facing challenges in managing MRO items, mostly consumables such as fasteners, tools, personal protective equipment (PPE), and other low-value, high-volume items. Ineffective ordering and improper identification of stocks, lack of predictability or inadequate forecasting, and large inventory of non-critical and high-volume items in stores, which not only increase the holding cost but also occupy warehouse space, most of the time increasing the company’s expenditure. Further, the demand for specific consumables can fluctuate depending on production schedules, maintenance needs, or unexpected repairs. This variability makes it difficult to predict and maintain optimal inventory levels, leading to potential stockouts or excess supplies. Manual inventory management can increase the risk of overstocking and expiring items. This can lead to wasted resources, unnecessary costs, and potential safety hazards with expired materials.

OPPORTUNITIES: Increasing popularity of carousel vending machines among SMEs

The manufacturers of machines cater to small- and medium-sized enterprises related to various industries, such as aerospace, manufacturing, healthcare, construction, and oil & gas, which have a large customer base. The emerging SMEs in all the regions are opting for carousel machines, as they are cost-effective, require less floor space, and consume minimum energy. Carousel machines provide a well-organized and controlled storage system for various supplies, making it easier for employees in SMEs to locate what they need. Further, faster access to supplies through carousels reduces employee downtime and improves overall operational efficiency in an SME setting. These vending machines help mitigate the management of inventories and enhance their performance, which is propelling their demand globally.

CHALLENGES: Complexity of implementation

While industrial vending machines offer a streamlined solution, but their implementing is not easy. Companies, especially those with diverse supplies, face challenges in integrating these machines with existing inventory management systems. Data synchronization, network upgrades, and compatibility issues can arise. Planning adds another layer of complexity. Selecting the right machine size and configuration for various consumables requires careful consideration. Training employees and managing potential resistance to change further complicates the process. However, partnering with experienced vendors, implementing a phased approach, and choosing scalable machines can significantly ease implementation and pave the way for a successful transition to automated inventory management.

Industrial Vending Machine Market Ecosystem

Prominent companies in this market include well-established, financially stable industrial vending machine providers such as Fastenal Company (US), Airgas, Inc. (US), RUBIX GROUP (UK), MSC Industrial Direct Co., Inc. (US), and Turtle (US). These companies have been operating in the market for several years and possess a diversified product portfolio and strong global sales and marketing networks. Along with the well-established companies, there are a large number of small and medium companies operating in this market, such as (Poland) and SecuraStock (US).

Industrial Vending Machine Market by Ecosystem

Coil vending machine segment is expected to hold highest market share during the forecast period.

Coil vending machines consist of a spiral coil that rotates and dispenses an item when an RFID badge is swiped. When a coil is inserted, the spiral coil rotates and drops the product into open space from where the purchaser can access the product. The coil-based vending machine can be individually assembled according to the requirements with regard to assortment variety, item size, and quantity. The coil or helix-style vending machine is widely adopted as it is the long-lasting and easy-to-service machine currently available in the market.

The market for manufacturing segment is projected to hold substantial market share during the forecast period.

Industrial vending machines serve in all the areas of the automotive industry. Manufacturers, suppliers, original equipment manufacturers (OEMs), and aftermarket parts manufacturers can rely on these machines to provide MRO and safety equipment at the work cell. For companies in the transportation & automotive space, productivity and profitability are closely linked. To be competitive, employees should have immediate access to tools, spare parts, and other MRO supplies. In addition, decision-makers must have immediate access to data on how those items are being used. The machine vends aerosols, cleaners, lubricants, safety glasses and gloves, batteries, and other items for the mold maintenance area of an auto parts manufacturing plant. The manufacturers use industrial vending machines to control usage and save money. Industrial vending machines act as an efficiency-boosting asset management solution for the transportation & automotive industry.

The market in North America is projected to hold the substantial market share in 2029.

Industrial Vending Machine Market by Region

Industrial Vending Machine Market by Region

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The US, Canada, and Mexico are the major countries for which industrial vending machine market has been studied. The aerospace industry is a significant contributor to the growth of industrial vending machines in the US. Aerospace parts and tools require strict quality control and traceability. Industrial vending machines can ensure the dispensing of the correct, certified tools and parts, minimizing errors and promoting quality assurance. Aerospace facilities often deal with expensive and sensitive tools and components. Vending machines provide secure storage, controlled access, and real-time data on inventory levels, minimizing loss or misplaced items.

Industrial Vending Machine -
Key Market Players

Fastenal Company (US), Airgas, Inc. (US), RUBIX GROUP (UK), MSC Industrial Direct Co., Inc. (US), W.W. Grainger, Inc. (US), and Turtle (US) are among a few top players in the industrial vending machine companies.

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Scope of the Report

- Industrial Vending Machine

Report Metric


Market Size Available for Years


Base Year


Forecast Period



Value (USD Million/Billion)

Segments Covered

Offering, Type, and Industry

Geographic Regions Covered

North America, Europe, Asia Pacific, and RoW

Companies Covered

Major Players:  Fastenal Company (US), Airgas, Inc. (US), RUBIX GROUP (UK), MSC Industrial Direct Co., Inc. (US), Turtle (US), W.W. Grainger, Inc. (US), AutoCrib (US), SupplyPoint (US), ASDSYSTEMS (Poland), Irmatic (Poland), SupplyPro, Inc. (US)
and Others - (Total 29 players have been covered)

Industrial Vending Machine Market Highlights

This research report categorizes the industrial vending machine market by product type, business models, offering, type, industry, and region.



By Offering:

  • Hardware
  • Software

By Product Type:

  • PPE
  • Fastening
  • Hand Tools
  • Power Tools
  • Industrial Supplies
  • Others

By Type:

  • Vertical Lift Machines
  • Coil Vending Machines
  • Carousel Vending Machines
  • Scale Vending Machines
  • Other Machines

By Business Model:

  • Supplier-managed Solutions
  • Supplier Agnostic Solutions

By Industry:

  • Aerospace
  • Construction
  • Healthcare
  • Manufacturing
  • Oil & Gas
  • Other Industries

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Poland
    • Portugal
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Rest of the World
    • Middle East
    • South America
    • Africa

Recent Developments

  • In September 2023, Turtle announced its partnership with MRO Integrated Supply; this partnership will help create a document that will serve as the charter for the selection process and include the important areas necessary to the organization.
  • In August 2022, MSC Industrial Direct Co., Inc. acquired Tower Fasteners, a value-added distributor of Original Equipment Manufacturer (OEM) fasteners and components. This acquisition will help the MSC to expands its presence in the OEM fastener market.
  • In June 2022, RUBIX GROUP has acquired Procomin, a distributor of power transmission solutions. This acquisition will continue to strengthen its distribution network.

Frequently Asked Questions(FAQs):

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    1.1. Study Objectives  
    1.2. Market Definition and Scope 
           1.2.1. Inclusions and Exclusions
    1.3. Study Scope 
           1.3.1. Markets Covered
           1.3.2. Geographic Segmentation
           1.3.3. Years Considered for the study
    1.4. Currency 
    1.5. Limitations 
    1.6. Stakeholders 
    1.7. Summary of Changes  
           1.7.1. Recession Impact on Industrial Vending Machine Market
    2.1. Research Data 
           2.1.1. Secondary Data
           Major Secondary Sources
           Key Data from Secondary Sources
           2.1.2. Primary Data
           Primary Interviews with Experts
           Key Data from Primary Sources
           Key Industry Insights
           Breakdown of Primaries
    2.2. Market Size Estimation 
           2.2.1. Bottom-Up Approach 
           Approach for Capturing Market Share by Bottom-Up Analysis (Demand Side)
           2.2.2.  Top-Down Approach
           Approach for Capturing Market Share by Top-Down Analysis (Supply Side)
    2.3. Market Breakdown and Data Triangulation 
    2.4. Research Assumptions 
    2.5. Risk Assessment 
    2.6. Assumptions of Recession 
    2.7. Limitations of Research 
    5.1. Introduction 
    5.2. Market Dynamics 
    5.3. Trends/Disruptions Impacting Customer’s Business 
    5.4. Pricing Analysis 
           5.4.1. Average Selling Price Trend of Key Players, By Type
           5.4.2. Average Selling Price Trend, By Region
    5.5. Value Chain Analysis 
    5.6. Ecosystem Analysis 
    5.7. Technology Analysis 
    5.8. Patent Analysis 
    5.9. Trade Analysis 
    5.10. Key Conferences and Events (2024-2025) 
    5.11. Case Study Analysis 
    5.12. Tariff and Regulatory Landscape 
           5.12.1. Regulatory Bodies, Government Agencies, and Other Organizations
    5.13. Porters Five Force Analysis 
           5.13.1. Threat from New Entrants
           5.13.2. Threat of Substitutes
           5.13.3. Bargaining Power of Suppliers
           5.13.4. Bargaining Power of Buyers
           5.13.5. Intensity of Competitive Rivalry
    5.14. Key Stakeholders and Buying Criteria 
           5.14.1. Key Stakeholders in Buying Process
           5.14.2. Buying Criteria
    6.1. Introduction  
    6.2. PPE 
    6.3. Fastening 
    6.4. Industrial Supplies 
    6.5. Power Tools 
    6.6. Hand Tools 
    6.7. Others 
    7.1. Introduction  
    7.2. Hardware 
    7.3. Software 
    8.1. Introduction  
    8.2. Vertical Lift Machines 
    8.3. Coil Vending Machines 
    8.4. Carousel Vending Machines 
    8.5. Scale Vending Machines  
    8.6. Other Machines 
    9.1. Introduction  
    9.2. Supplier-Managed Solution 
    9.3. Supplier Agnostic Solutions 
     10.1. Introduction  
     10.2. Aerospace  
     10.3. Healthcare 
     10.4. Manufacturing 
     10.5. Construction 
     10.6. Oil & Gas 
     10.7. Other Industries 
     11.1. Introduction 
     11.2. North America 
             11.2.1. Impact of Recession
             11.2.2. US
             11.2.3. Canada
             11.2.4. Mexico
     11.3. Europe 
             11.3.1. Impact of Recession
             11.3.2. UK
             11.3.3. Germany
             11.3.4. France
             11.3.5. Poland
             11.3.6. Portugal
             11.3.7. Spain
             11.3.8. Rest of Europe
     11.4. Asia Pacific 
             11.4.1. Impact of Recession
             11.4.2. China
             11.4.3. Japan
             11.4.4. India
             11.4.5. Rest of Asia Pacific
     11.5. Rest of the World (RoW) 
             11.5.1. Impact of Recession
             11.5.2. Middle East
             11.5.3. South America
             11.5.4. Africa
     12.1. Key Player Strategies/Right to Win 
     12.2. Revenue Analysis 
     12.3. Market Share Analysis 
     12.4. Company Evaluation Matrix 
             12.4.1. Stars
             12.4.2. Emerging Leaders
             12.4.3. Pervasive Players
             12.4.4. Participants
             12.4.5. Company Footprint
     12.5. Startup/SME Evaluation Matrix 
             12.5.1. Progressive Companies
             12.5.2. Responsive Companies
             12.5.3. Dynamic Companies
             12.5.4. Starting Blocks
             12.5.5. Competitive Benchmarking of Key Startups/SMEs
     12.6. Competitive Situation and Trends 
     13.1. Key Players 
             13.1.1. Fastenal Company 
             13.1.2. AutoCrib 
             13.1.3. Airgas, Inc. 
             13.1.4. SupplyPoint 
             13.1.5. RUBIX GROUP 
             13.1.6. MSC Industrial Direct Co., Inc. 
             13.1.7. W.W. Grainger, Inc.
             13.1.8. Turtle 
             13.1.9. ASDSYSTEMS 
             13.1.10. Irmatic 
             13.1.11. SupplyPro, Inc. 
     13.2. Other Players 
             13.2.1. CRIBMASTER 
             13.2.2. IVM, Inc. 
             13.2.3. SecuraStock  
             13.2.4. Silkron 
             13.2.5. Intelligent Dispensing Solutions 
             13.2.7. SEAGA MANUFACTURING INC. 
             13.2.8. Easier Vending 
             13.2.9. 1sourcevend 
             13.2.10. Industrial Vending Systems 
             13.2.11. Vechnology Sdn Bhd 
             13.2.12. Reliance Supply Inc. 
             13.2.13. IMC Group 
             13.2.14. Tooling Intelligence ltd 
             13.2.15. Sprint Engineering & Lubricants Limited 
             13.2.16. IVM Zrt. 
             13.2.17.  Inventor-e Ltd 
             13.2.18. JOFEMAR CORPORATION
14 Adjacent Market 
15 Appendix  
     15.1. Discussion Guide 
     15.2. Knowledge Store: MarketsandMarkets’ Subscription Portal 
     15.3. Available Customizations 
     15.4. Related Reports 
     15.5. Author Details 
Note: This ToC is tentative and minor changes are possible as the study progresses.  

The study involved four major activities in estimating the current size of the industrial vending machine market. Exhaustive secondary research has been done to collect information on the market, peer, and parent markets. The next step has been to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches have been employed to estimate the total market size. After that, market breakdown and data triangulation methods were used to estimate the market size of segments and subsegments. Two sources of information—secondary and primary—have been used to identify and collect information for an extensive technical and commercial study of the industrial vending machine market.

Secondary Research

Secondary sources include company websites, magazines, industry news, associations, and databases (Factiva and Bloomberg). These secondary sources include annual reports, press releases, investor presentations of companies, white papers, certified publications, articles by recognized authors, regulatory bodies, trade directories, and databases.

Primary Research

Primary sources mainly consist of several experts from the core and related industries, along with preferred industrial vending machine providers, distributors, alliances, standards, and certification organizations related to various segments of this industry’s value chain.

In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts such as Chief Experience Officers (CXOs), Vice Presidents (VPs), and Directors from business development, marketing, product development/innovation teams, and related key executives from industrial vending machine providers, such as Fastenal Company (US), Airgas, Inc. (US), RUBIX GROUP (UK), MSC Industrial Direct Co., Inc. (US), Turtle (US), and W.W. Grainger, Inc. (US); research organizations, distributors, industry associations, and key opinion leaders. Following is the breakdown of primary respondents.

Industrial Vending Machine Market
 Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the total size of the industrial vending machine market. These methods have also been used extensively to estimate the size of various subsegments in the market. The following research methodology has been used to estimate the market size:

  • Major players in the industry and markets have been identified through extensive secondary research.
  • The industry’s value chain and market size (in terms of value) have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Top-Down Approach

In the top-down approach, the overall market size has been used to estimate the size of the individual market segments (mentioned in market segmentation) through percentage splits from secondary and primary research. For specific market segments, the size of the most appropriate immediate parent market has been used to implement the top-down approach. The bottom-up approach has also been implemented for data obtained from secondary research to validate the market size of various segments.

Industrial Vending Machine Market: Top-Down Approach

Industrial Vending Machine Market
 Size, and Top-Down Approach

Bottom-Up Approach

The bottom-up approach has been used to arrive at the overall size of the industrial vending machine market from the revenues of the key players and their market shares. Calculations based on revenues of key companies identified in the market led to the estimation of their overall market size.

Industrial Vending Machine Market: Bottom-up Approach

Industrial Vending Machine Market
 Size, and Bottom-up Approach

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the overall market has been split into several segments and subsegments. The market breakdown and data triangulation procedures have been employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.

Market Definition

An industrial vending machine is a system used on production sites that automatically dispenses the required maintenance, repair, and operation (MRO) products or personal protective equipment (PPE) 24/7 and performs automatic record-keeping. It dispenses supplies directly to the employees. The industrial vending machine is equipped with sensors, locker units, cameras, internet connectivity, touch display, software, RFID portal tools, biometrics, and cashless payment technology. It can be configured to be accessed by a specific employee or group of employees, for a specific quantity, within a particular time frame. This can help organizations eliminate the unnecessary use of inventory.

Key Stakeholders

  • Raw material suppliers
  • Industrial vending machine original equipment manufacturers (OEMs)
  • Suppliers and distributors
  • Vending machine integrators
  • Software & hardware providers
  • Electronic hardware equipment manufacturers
  • Locker units and vending machine controller providers
  • Assembly and packaging vendors
  • Technical universities
  • Government research agencies and private research organizations
  • Research institutes and organizations
  • Market research and consulting firms
  • Technology investors
  • Technology standard organizations, forums, alliances, and associations

Report Objectives

  • To define and forecast the industrial vending machine market regarding offering, type, and industry.
  • To describe and forecast the industrial vending machine market and its value segments for four regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW), along with their respective countries.
  • To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To strategically analyze micro-markets concerning individual growth trends, prospects, and contributions to the overall market
  • To study the complete value chain of the industrial vending machine market
  • To analyze opportunities in the market for stakeholders by identifying high-growth segments of the market
  • To strategically profile key players and comprehensively analyze their market position regarding ranking and core competencies, along with a detailed market competitive landscape.
  • To analyze strategic approaches such as agreements, collaborations, and partnerships in the industrial vending machine market
  • To provide an analysis of the recession impact on the growth of the market and its segments

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Published ON
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