Global Vertical Carousels Market Size, Share, Opportunities, And Trends By Load Capacity (Up To 3,000 Lbs, 3,000-7,000 Lbs, More Than 7,000 Lbs), By End User (Manufacturing, Healthcare, Retail, Food And Beverage, Paper, Others), And By Geography - Forecasts From 2024 To 2029

  • Published : Jul 2024
  • Report Code : KSI061610388
  • Pages : 138

The global vertical carousel market was valued at US$1.478 billion in 2022 and is set to reach US$2.478 billion in 2029 at a CAGR of 7.66%.

Vertical carousels consist of a series of shelves that rotate on a person’s command and deliver selected items at an ergonomically safe and convenient height. They are used to save space when excess inventory needs to be maintained in small warehouses. Thus, the growing third-party logistics industry is augmenting the demand for vertical carousels worldwide.

The rising demand for processed food and beverages further fuels the demand for automated vertical carousels to cover the content with a dust cover protection panel system that reduces or eliminates dust and particulates in product storage. Due to the 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. Likewise, large organizations' establishment of manufacturing facilities, warehouses, and factories has further paved the way for future market growth.

Global Vertical Carousels Market Drivers:

  • Growing emphasis on capitalizing storage density has propelled the market expansion.

Vertical carousels capitalize on storage density by augmenting the available floor space. They are taller in length than they are in width, meaning that they have a small footprint on the floor. Thus, they free up valuable horizontal square footage for other purposes than storage. Hence, vertical carousels optimize the overhead air space, also called “air rights.”

Air rights are always susceptible to being the most underutilized space in factories and warehouses, and vertical carousels expand the storage capacity without increasing the actual warehouse footprint by using the unutilized potential. Owing to their high-performance benefits, vertical carousels find high applicability in extremely small spaces for optimizing the spaces and resources.

For instance, hospital pharmacies are usually about 2,000 square feet in area. That space needs to be utilized for medication storage, and pharmacists and technicians also need to work there. SencorpWhite, a US-based manufacturing company that offers these solutions and services, has been able to mitigate the storage footprint in hospitals and pharmacies by at least 50% by replacing static shelving with these vertical carousels.

  • High-performance benefits offered by vertical carousels are expanding their market demand.

Vertical carousels also offer beneficial ergonomic traits as they terminate the laborious work that operators are required to do. They provide dynamic material handling alternatives for storage facilities and warehouses by offering automation benefits that reduce an operator's overall labor and time cost.

Additionally, when these carousels are used, operators do not have to tread the warehouse floor or use a ladder or man-lift machinery to access items stored on the elevated shelves. Such ergonomic benefits increase overall warehouse productivity, and with the ongoing adoption of modern storage technologies in storage facilities, the market is set to witness an upward trajectory.

Global Vertical Carousels Market Restraint:

  • Regular maintenance to constrain growth in the market.

Vertical carousels offer a much-advanced means of material storage and handling. However, they require regular maintenance to maintain optimum performance, which can be a financial burden. The carousels require a technician for the evaluation of the system and the inspection of the wiring, tracks, wheels, and other internal components. They further check the machine in motion, check the chain tracks, chains, and drive chains, and complete any necessary repairs. All these maintenance requirements attached to vertical carousels are thus expected to hinder market growth.

Global Vertical Carousels Market Geographical Outlook

  • North America will experience remarkable growth.

The North American region is anticipated to show significant growth during the forecast period and will constitute a significant share, fuelled by the rapid industrialization in major regional economies, namely the USA and Canada. This has bolstered the presence of warehouse facilities and factories, where vertical carousels are majorly used to optimize storage capacity.

For instance, according to the US Bureau of Labor Statistics, in 2022, the strength of private warehouse establishments in the USA stood at 21,287, representing a 6.4% increase over 2021. Moreover, the same source stated that the projected number of private warehouses in Q3 of 2023 was 22,124, which signified a 3.2% increase over Q3 of 2022.

Moreover, the region is also witnessing significant growth in other major end-users, such as manufacturing, retail, and food & beverage where storage facilities play an important role in maintaining product quality.

Global Vertical Carousels Players and Products

  • Modula's vertical automated storage solutions are designed to save space and time while also improving process efficiency. The Modula automated vertical warehouses are 100% customizable, depending on the customer's choice. The models offered are Modula Lift, Modula Slim, and Modula OnePick.

Global Vertical Carousels Market Key Developments

  • April 2024: Kardex formed a strategic partnership with DKSH Business Unit Technology where the latter would Karde’x leading automated storage and retrieval system (ASRS), inclusive of its ‘Vertical Lift Module” and “Vertical Carousel Module” on the Asia Pacific market. The major nations chosen were China, Indonesia, Singapore, Malaysia, Thailand, the Philippines, and Vietnam.
  • November 2023: Phononic formed a collaboration with Vidir Solutions, which specializes in manufacturing vertical material handling and storage systems, including vertical carousels. The collaboration will commercialize “Vidir Power Carousels,” which will make online grocery delivery much easier for grocers.
  • February 2022: Randex launched a new version of its “Compact” vertical storage system which is equipped with automated vertical storage technology and an updated HMI touchscreen providing varying levels of user access.
  • February 2022: ISDA Network introduced Summit Storage Solutions as their endorsement business partner. The latter would provide its vertical carousel products to ISDA’s clients to improve their facilities' floor space and manage inventory, thereby increasing overall productivity.

The Global Vertical Carousels market is segmented and analyzed as follows:

  • By Load Capacity
    • Up to 3,000 lbs
    • 3,000 to 7,000 lbs
    • More than 7,000 lbs
  • By End-User
    • Manufacturing
    • Healthcare
    • Retail
    • Food and Beverage
    • Paper
    • Others
  • By Geography
    • North America
      • United States
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • United Kingdom
      • Germany
      • France
      • Italy
      • Spain
      • Others
    • Middle East and Africa
      • UAE
      • Saudi Arabia
      • Others
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Indonesia
      • Thailand
      • Taiwan
      • Others

Frequently Asked Questions (FAQs)

Vertical Carousels Market was valued at US$1.192 billion in 2020.
The global vertical carousels market is expected to grow at a CAGR of 9.09% during the forecast period.
The growing third-party logistics industry is augmenting the demand for vertical carousels across the globe.
The vertical carousels market is expected to reach a market size of US$2.192 billion in 2027.
The vertical carousel market has been segmented by load capacity, end user, and geography.

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key Benefits for the Stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Analyst View

5. GLOBAL VERTICAL CAROUSELS MARKET BY LOAD CAPACITY

5.1. Introduction

5.2. Up to 3,000 lbs

5.3. 3,000 to 7,000 lbs

5.4. More than 7,000 lbs

6. GLOBAL VERTICAL CAROUSELS MARKET BY END-USER

6.1. Introduction

6.2. Manufacturing

6.3. Healthcare

6.4. Retail

6.5. Food and Beverage

6.6. Paper

6.7. Others

7. GLOBAL VERTICAL CAROUSELS MARKET BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. United States

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Others

7.4. Europe

7.4.1. United Kingdom

7.4.2. Germany

7.4.3. France

7.4.4. Italy

7.4.5. Spain

7.4.6. Others

7.5. Middle East and Africa

7.5.1. UAE

7.5.2. Saudi Arabia

7.5.3. Others

7.6. Asia Pacific

7.6.1. China

7.6.2. Japan

7.6.3. India

7.6.4. South Korea

7.6.5. Indonesia

7.6.6. Thailand

7.6.7. Taiwan

7.6.8. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. Bastian Solutions, Inc.

9.2. Cisco-Eagle Inc. 

9.3. Modula Inc.

9.4. Electroclass

9.5. Kardex Group

9.6. SencorpWhite, Inc. 

9.7. SSI SCHAEFER

9.8. ULMA Handling Systems

9.9. Vidir Machine, Inc


Bastian Solutions, Inc.

Cisco-Eagle Inc. 

Modula Inc.

Electroclass

Kardex Group

SencorpWhite, Inc. 

SSI SCHAEFER

ULMA Handling Systems

Vidir Machine, Inc.


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