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Vertical Reciprocating Conveyor Market Share

Report ID: GMI5040
Published Date: Nov 2024
Report Format: PDF

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Vertical Reciprocating Conveyor Market Share

Global Vertical Reciprocating Conveyor Company Market Share Analysis, 2023

The global vertical reciprocating conveyor industry is moderately fragmented, with several regional and local companies operating on a global scale. Together these companies hold a market share of 8-10% of the total market. These companies are investing heavily in research and development to create innovative and technologically advanced products. They are also focusing on expanding their distribution networks, both online and offline, to reach a wider customer base.

Vertical Reciprocating Conveyor Market Companies

Major players operating in the vertical reciprocating conveyor industry are:

Advance Lifts
Autoquip
Beech Design and Manufacturing
Custom Industrial Products
Damon Australia
Gebhardt Fordertechnik
Industrial Kinetics
Nerak Systems
Nido Machineries
PFlow Industries
Precision Automation
Qimarox
Rite-Hite
Vertical Conveyors
Wildeck

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global market for vertical reciprocating conveyor was reached USD 688.3 million in 2023 and is estimated to grow at a 5.3% CAGR from 2024 to 2032, driven by the increasing adoption of automation in the industrial sector.

The mechanical VRCs market recorded USD 443.2 million in 2023 and is expected to grow at a 5.1% CAGR from 2024 to 2032, due to their reliability in automating the vertical transport of goods, reducing manual labor, and enhancing operational efficiency.

The mining and construction segment held around 16.5% share of the vertical reciprocating conveyor market in 2023 and is anticipated to grow at a 5.6% CAGR through 2032, proplled by the sectors' increasing reliance on VRCs for their efficiency, safety, and versatility.

The North America region dominated 35.2% share of the vertical reciprocating conveyor market in 2023 and is expected to grow at a 4.4% CAGR from 2024 to 2032, led by the expansion of the automotive sector and the increase in the number of dealerships.

Key players in the vertical reciprocating conveyor industry include Advance Lifts, Autoquip, Beech Design and Manufacturing, Custom Industrial Products, Damon Australia, Gebhardt Fordertechnik, Industrial Kinetics, Nerak Systems, Nido Machineries, PFlow Industries, Precision Automation, Qimarox, Rite-Hite, Vertical Conveyors, and Wildeck.