Global Vertical Lift Module (VLM) market will reach 595.86 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/8/14

The global vertical lift module (VLM) will grow at a significant rate due to the growing adoption of VLM in various end-use industries such as automotive, healthcare, semiconductor, aviation, and electronics. Several trade shows and expos have also helped the vertical lift module (VLM) manufacturing companies to increase their customer base and significantly contributed to the growth of the market. In addition, increasing warehouse rentals, rising focus on worker safety and security, growing demand for optimizing warehouse floor space, and the benefits of utilizing vertical lift module (VLM) with comparison to conventional common wall fixed systems are the factors that are expected to propel the growth of the global VLM market in the coming years.

However, the availability of the used vertical lift modules (VLMs) is creating a negative impact on the growth of the market.

The global vertical lift module (VLM) market is expected to be valued at US$ 595.86 mn by 2025 from US$ 358.15 mn in 2018. The market will register at a CAGR of 7.58% throughout the forecast period.

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