The global vertical carousels market is predicted to witness a compound annual growth rate of 8.34% during the forecast of 2017-2023. Vertical carousels consist of a series of shelves that rotate on a person’s command and delivers selected items at an ergonomically safe and convenient height. These carousels are used for space-saving when there is a need for maintaining excess inventory in small warehouses. Thus, growing third-party logistics industry is augmenting the demand for vertical carousels across the globe. Rising demand for processed food and beverage is further fuelling the demand for automated vertical carousels in order to cover the content by a dust cover protection panel system that reduces or eliminate dust and particulates in product storage. Due to growing IT industry, vertical carousels also enable the manufacturer to track down the goods, limit errors and thefts, and thus reduce the costs of storage and errors. Rising global aging population is propelling the growth of global pharmaceutical market which, in turn, escalating the demand for vertical carousels to provide hygiene, security, and climatic- and humidity-controlled environment to various medicines and medical devices.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Vertical Carousels value chain. Last step involves complete market engineering which includes analysing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are Bastian Solutions, Inc., Modula Inc., Electroclass and Mecalux, S.A. among others.
The Global Vertical Carousels market has been analysed through following segments:
By Load Capacity
Up to 3,000 lbs
More than 7,000 lbs
By End User
Food and Beverage
Middle East and Africa