The industrial vending machine market is expected to grow from USD 1.1 billion in 2021 to USD 1.8 billion by 2026, at a CAGR of 11.0%. The factors such as growing need for high-security industrial vending machines in data centers, increasing use of point-of-use inventory management and tracking solutions for industrial and safety supplies, and integration of IoT and cloud infrastructure into industrial vending machines —are driving the industrial vending machine market.
Application of manufacturing and healthcare end-use industries and growth opportunities of industrial vending in aerospace are creating opportunities for the industrial vending machine market. Some of the key companies operating in the market are AutoCrib, Inc. (US); Fastenal Company (US); Airgas, Inc. (US); BRAMMER (Norway); SupplyPoint (UK); SupplyPro, Inc. (US); SECURASTOCK, LLC. (US); CribMaster (Georgia); IVM, Inc. (US); and Silkron (Malaysia), and so on.
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Fastenal Company (US) ranked first in the industrial vending machine market in 2020. The company introduced industr vending (FAST Vend) in 2008 to provide its customers with improved monitoring and control products, offering benefits such as reduced consumption, reduced purchase orders, reduced product handling, and 24-hour product availability. The company’s industrial vending portfolio consists of 24 different vending devices, out of which 15 of these machines are either of a helix or locker format. Their most utilized models include the helix-based FAST 5000 and the 12- and 18-door lockers; combined and constitute 70% of the installed machines till now. These are either configurable or are available in multiple configurations to accommodate various sizes and forms of products that will be dispensed to match the unique needs of the customers. Sensor machines use the technology that extends the benefits of vending to tough-to-dispense shapes like boxes, cylinders/cans, 'floppy' items (Tyvek suits, slings, etc.), and loose components. The machines automatically sense and report the exact quantity taken by each user, providing per-item traceability and a frictionless 'grab and go' experience with no RFID tagging required.
AutoCrib, Inc. (US) ranked second in the industrial vending machine market in 2020. AutoCrib is one of the leading designers, manufacturers, and marketers of tools and asset control solutions. The company’s diverse product line, in combination with its flexible asset tracking software, authors customized systems that ensure accountability, control, and accuracy for a wide range of critical industries, such as aerospace, construction, government and military, oil & gas, manufacturing, machining, safety, transportation and automotive, and utilities. Its key products include a variety of handheld scanners, traditional coil/helix machines, automated lockers, a PPE-specific dispensing machine, vertical storage machines, RFID systems, vision-based tool cabinets, and small and large robotic carousel systems with an optional counting scale attachment. The company’s vending systems also provide automatic inventory management solutions and replenishment of inventories. In September 2020, Snap-On acquired the assets of AutoCrib, Inc.
Airgas, Inc. (US) ranked third in the industrial vending machine market in 2020. Airgas develops vending solutions that are scalable and customized to meet client requirements. Both the EZ-Vend ToolBox and AcuVend systems allow tracking welding hardgoods, safety items, MRO supplies, tools, and other items. EZ-VEND Vendor-managed inventory services and procurement tools save time with improved ordering, receiving, stocking, and distribution. The company’s vending management solutions include lockers, vending machines, and more, which are installed right on the project site. These solutions secure supplies close to the project site or manufacturing site where they are needed. EZ-VEND VMI services help efficiently manage inventory and include ordering, stocking, and monitoring at the point of use to eliminate runouts and emergency requests. They provide customized vending solutions in the form of lockers, coil-based vending systems, scale-based technology dispensing systems, on-site dispensing devices.
Industrial Vending Machine Market with COVID-19 Impact Analysis, by Type (Vertical Lift Machine, Coil Vending Machine, Carousel Vending Machine, Scale Vending Machine), Offering, Business Model, End-user Industry, and Geography - Global Forecast to 2026
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