Global Vertical Reciprocating Conveyor Market Revenue to Record Stable Growth Through 2021-2027

Global Vertical Reciprocating Conveyor Market Revenue to Record Stable Growth Through 2021-2027

The global vertical reciprocating conveyor market is anticipated to hold a substantial share over 2021-2027, owing to the rapid advancements in technology for the efficient handling of a large volume of goods across the manufacturing sector worldwide. The product has been gaining widespread adoption due to its capability to ensure fast, convenient, and efficient access of materials and equipment to and from the balconies, mezzanines, basements, and different other levels in multi-story buildings in factories.

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Likewise, the increasing need for automated production processes to drive product quality, eliminate errors, and reduce variability will contribute to the rising popularity of vertical reciprocating conveyor lifts over the coming years. This type of conveyor allows the movement of loads, reduces operator errors, and eliminates safety concerns involved in transferring heavy materials within the factories.

As per Global Market Insights, Inc. estimates, the global vertical reciprocating conveyor market is set to register revenue of over $700 million by 2027.

Increasing penetration of the healthcare companies and rapid technological advancements

The industry has been witnessing a rapid expansion of the healthcare sector and the deployment of advanced technologies. The pharmaceutical wholesalers are leveraging the benefits of vertical reciprocating conveyor design to boost the safety and efficiency of moving goods within factories. The product can lift pallets of consumable materials and empty totes from different floors to around a 10,000-sq. ft. concrete mezzanine. The platform has a high lifting capacity, can travel 24-ft. per minute, and takes over 30 seconds to reach the mezzanine to unload the lifted pallets.

These myriad product advantages will provide lucrative opportunities for the market players to expand their offerings for the pharmaceutical & chemical plants. For example, Matot provides VRCs for the healthcare industry to keep the critical items contained, efficient, and secure, thereby lowering contamination and other risks.

The two main types of vertical reciprocating conveyors, i.e. mechanical and hydraulic, are considered to be cost-effective material handling solutions for multi-level facilities. Mechanical VRCs are operated by means of a brake motor, while hydraulic VRCs are operated by using an electric motor for various applications.

Shifting preferences from standard elevator towards vertical reciprocating conveyor lifts

Consumers are rapidly shifting their preferences towards vertical reciprocating conveyors, owing to their cost-effective nature as compared to the standard elevator. In addition, the product is considered to be much safer and more convenient than forklift trucks, and can seamlessly transfer pallet carts, loads, and boxes. The usage of VRCs, which are also classified as material conveyors, does not need OSHA forklift training. These aforesaid factors will expand the scope of the vertical reciprocating conveyor market in years ahead.

In terms of segmentation by application, the warehouse & distribution segment is projected to account for an appreciable share over the estimated timeline. This is the result of the mounting construction of multi-level warehouses by e-Commerce players to meet the rapid surge in need for fast delivery. The overall productivity of the facility can also be bolstered by the product capability to efficiently and rapidly lift heavy cargo.

Rapid industrialization and infrastructural developments in Latin American countries

On the regional front, the Latin America vertical reciprocating conveyor market is slated to proliferate at a commendable pace in the coming years, due to the growing industrialization and strong government emphasis on infrastructural developments in Mexico, Brazil, and other countries. Furthermore, accelerating investments in AI, robotics, and other advanced technologies, alongside the rising consumption of automated solutions, will impel regional market forecast.

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The competitive landscape of the Vertical Reciprocating Conveyor Market consists of companies such as Hoosier Crane Service Company, Ningbo YiFan Conveyor Equipment Co. Ltd., Gebhardt Fördertechnik GmbH, Amber Industries, Nido Machineries, Qimarox, Verticon LLC, Custom Industrial Products, and Precision Automation Company, Inc., among others. These firms are focusing on strategic partnerships & acquisitions, new product launches, and business expansions to drive their geographical presence.

Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Scope & definitions

1.2    Methodology & forecast parameters

1.3    COVID-19 impact

1.3.1    North America

1.3.2    Europe

1.3.3    Asia Pacific

1.3.4    Latin America

1.3.5    MEA

1.4    Data sources

1.4.1    Secondary

1.4.2    Primary

Chapter 2   Vertical Reciprocating Conveyor Market Summary

2.1    Vertical reciprocating conveyor industry 360º synopsis, 2017 - 2027

2.1.1    Business trends

2.1.2    Regional trends

2.1.3    Product trends

2.1.4    Type trends

2.1.5    Application trends

Chapter 3   Vertical Reciprocating Conveyor Market Insights

3.1    Industry segmentation

3.2    Impact of coronavirus (COVID-19) pandemic

3.2.1    Global outlook

3.2.2    Regional outlook

3.2.2.1    North America

3.2.2.2    Europe

3.2.2.3    Asia Pacific

3.2.2.4    Latin America

3.2.2.5    MEA

3.2.3    Industry value chain

3.2.4    Competitive landscape

3.3    Industry ecosystem analysis

3.3.1    Raw material suppliers

3.3.2    Component suppliers

3.3.3    Manufacturers

3.3.4    System integrators

3.3.5    Service providers

3.3.6    Distributors and resellers

3.3.7    Vendor matrix

3.4    Technological & innovation landscape

3.4.1    Data analytics & automation

3.4.2    Energy efficiency measures

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