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Vertical Lift Module (VLM) Market Size
- Report ID: GMI10404
- Published Date: Jul 2024
- Report Format: PDF
Vertical Lift Module Market Size
Vertical Lift Module Market was valued at approximately USD 1.7 billion in 2023 and is anticipated to register a CAGR of 8.8% between 2024 and 2032. Vertical lift modules (VLMs) are advanced storage systems that help businesses make the most of their warehouse space. They work by using vertical space efficiently, storing items in trays that move up and down inside a tall, enclosed unit. When an item is needed, the VLM quickly brings the right tray to an access point, making it easy for workers to retrieve or store items.
Vertical lift modules (VLMs) enable warehouses to store significantly more goods in the same footprint by making use of vertical space that increases the overall efficiency of the warehouse, which in turn fuels market demand. In the vertical lift module (VLMs) market, companies are always looking for ways to maximize warehouse space even further. This might involve designing VLMs that can reach higher, fit into tighter spaces, or hold more items per tray. Some VLMs now use smart software to organize items better, reducing wasted space. Others might have features like adjustable trays or the ability to handle different types of items in the same unit. By continually improving these systems, VLM manufacturers help businesses store more goods in less floor space, which can save money and improve efficiency.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Vertical Lift Module Market Size in 2023: | USD 1.7 Billion |
| Forecast Period: | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR: | 8.8% |
| 2024 – 2032 Value Projection: | USD 3.6 Billion |
| Historical Data for: | 2021 – 2023 |
| No. of Pages: | 80 |
| Tables, Charts & Figures: | 32 |
| Segments covered: | By Storage Type, Delivery Type, Loading Capacity, End Use, Distribution Channel, Regions |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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One big challenge in the vertical lift module (VLM) market is the high upfront cost. These advanced storage systems are expensive to buy and install, which can be a major hurdle for many businesses, especially smaller businesses. The price tag often includes not just the VLM unit itself, but also costs for delivery, setup, and sometimes changes to the warehouse to accommodate the new system. This large initial investment can make some companies hesitant to adopt VLMs, even if they could benefit from them in the long run.
The higher initial investment of vertical lift modules (VLMs) in comparison to regular shelving is one of the challenges they encounter in the market. Even while VLMs maximise space and increase productivity over the long run, some organisations may find the initial cost prohibitive. Conventional shelves are a dependable and reasonably priced choice.
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Vertical Lift Module Market Scope
