Industrial Vending Machine Market Analysis Report By Type, By Product, By End Use, By Region And Segment Forecasts From 2020 To 2027

Report ID: MN17617273  |  Published: July 2020  |  No of Pages: 138
Format: Electronic (PDF)  |  Industry: Machinery and Machine Parts

Industry Insights

 The global industrial vending machine market size was accounted for USD 2.2 billion in 2019 and projected to grow at 9.6% CAGR over the forecast period, from 2020 to 2027. The advent of new technologies in industrial vending machines has enabled firms to monitor inventory management and enhance the proficiency of inventory management. The market is anticipated to gain popularity across several industries as it is a cost-effective solution and helps businesses to gain a high market share.

Moreover, increasing focus on employees' safety is anticipated to drive the need for personal protective equipment (PPE) kit, thereby expected to increase demand for these machines for PPE. Advancement in these machines is projected to drive market growth. Adoption of cloud infrastructure and RFID in vending machines enables tracking and monitor inventory, which helps in reducing the risk of theft. These advanced technologies store electronic records of inventories and analysis tools to provide information to the customers for inventory management. Further, technologies offer real-time inventory visibility to make sure that products like manufacturing tools are not misplaced.

U.S. industrial vending machine market

The market is projected to witness significant growth due to increasing demand from SMEs. The services such as the availability of these machines on rent enable SMEs to buy them at a low cost. Additionally, the availability of PPE and MRO at affordable costs is projected to drive market growth across SMEs. The product is projected to have robust growth during the projected period in developing regions like Asia pacific.

These machines keep records of inventory usage by tracing time and identify the user’s details. Hence, industrial vending machines help to improve the productivity and efficiency of the companies by minimizing the walk-around time of employees. These machines also help to reduce the usage of material, thereby, reduces the expenses of companies.

Industrial vending machines optimize according to the company’s production to make sure the availability of better tools as well as spare parts. Moreover, the rising adoption of these machines by medium and small manufacturing units is projected to surge the market growth during the forecast period. On the other hand, the high cost of these machines may become a challenge for small companies. Thus, high costs may hamper the market growth to some extent by rental vending machines.

Type Insights

On the basis of product, the market is segmented into coil vending machines, carousel vending machines, and others. The coil vending machine is projected to emerge as the fastest-growing product segment from 2020 to 2027. These machines have several benefits such as energy-efficient, easy maintenance, and have more capacity to hold inventory than other types. Thus, the segment is expected to dominate the global market throughout the projected period.

Carousel vending machine is widely used for products like small testing equipment, cutters, and tools. This machine occupies less space, thereby, widely installed by SMEs. In addition, due to the low cost of this equipment, small-scale companies are adopting it rapidly. Other type includes lockers and cabinet which are offered with customizing the design as per end-user demand. These lockers and cabinets are majorly used for MRO and are stocked in high volume across various industries.

Product Insights

In the industrial vending machines market, the product segment is fragmented into maintenance, repair & operations (MRO), personal protective equipment (PPE), and others.  The PPE segment is anticipated to have substantial growth from 2020 to 2027. Increasing awareness about employee safety in a hazardous work environment is expected to boost the demand for PPE. Market players are providing industrial vending machines along with PPE, thereby, expected to drive the PPE segment growth.

MRO offers spare parts, tool kits, testing equipment, sealant, and coatings which are majorly required during downtime. Hence, MROs equipment is present in large stock across several industries where downtime cost is high. In addition, MRO supply is the most integral part of floor inventory management, and tracing them is very important for industries like aviation, manufacturing, and oil & gas.  In this scenario, industrial vending machines help to track as well as maintain MRO supplies very efficiently, thereby, projected to drive the market growth over the forecast period.

End-use Insights

Based on the end-user, the market is segmented into oil & gas, manufacturing, and others. In 2019, the manufacturing industry held the largest market share in terms of revenue. This is due to the high cost incurred in operational downtime. These machines help to keep track of supply usage and increase operational efficiency. North America is expected to have significant market growth due to the presence of various manufacturing SMEs.

Europe industrial vending machine marketThe oil & gas end-use industry is expected to grow with the highest CAGR during the projected period. This growth is attributed to the growing cost of PPE equipment and drilling tools. Further, in this industry, employee safety becomes a major concern owing to the hazardous situation in the working environment, thereby, expected to surge the market growth in the oil and gas industry.

Regional Insights

North American industrial vending machines market held the largest market share of more than 40.0%in 2019. This higher revenue market share is attributed to the presence of various OEMs &distributors in this region. The companies operating in the manufacturing sector are pioneers in adopting new technologies, thereby, expected to drive the regional market growth over the forecast period. Further, increasing awareness regarding hazardous work environments and worker safety will boost the product demand in North America.

The Asia Pacific is projected to emerge as the highest growing region during the forecast period due to an increasing number of small and medium businesses. In this region, developing countries like South Korea, India, and China are widely shifting towards the automation process, which is expected to propel the demand for these machines in the next few years.

Impact of COVID-19

Due to the sudden outbreak of COVID-19, industries such as manufacturing, aviation, and oil & gas have been disrupted in terms of social, financial, and operational consequences. This pandemic has enforced the market players to rethink contingency plans and risk management. To recover this situation, market players are solving several challenges on an immediate basis to bring their business to a normal level. Wherein, the industrial machine plays an important role in automatically tracking all information, prevent from fraud activities, and cost data such as customer numbers, cost centers, and other custom fields. In addition, during this situation, employee safety becomes a more important concern, wear PPE and MRO supply is expected to gain traction. PPE through industrial vending machines helps employees to provide a safe and clean environment to mitigate safety risks. Vending machines make this PPE easily available for employees by locating the machine at the required workplace. Thus, several benefits of industrial vending machines allow employees to focus on their jobs and prevent them from hazardous situations, thereby, expected to drive the market growth during this pandemic period.

Industrial Vending Machine Market Share Insights

The major vendors include in this market are Silkron; AutoCrib, Inc.; Fastenal Company; CribMaster; IVM Ltd.; SupplyPro, Inc.; CMT Industrial Solutions; SupplyPoint; Brammer; Grainger, Inc; and CMT Industrial Solutions. Among these companies, U.S.-based Fastenal Company dominated the market due to its unique services and offerings.

The market is competitive in nature. Owing to the high initial investment, it is difficult to entry in the market for new players. This high investment occurs owing to the manufacturing of infrastructure including warehouses and factories. In addition, key players are providing value-added services like supply of inventory, repair, and maintenance which has created barriers to entry into the market. Hence, small companies prefer collaborations or partnerships with key players in order to enter the market.

Report Scope



The base year for estimation


Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million & CAGR from 2020 to 2027

Regional scope

North America, Europe, Asia Pacific, Latin America, and MEA

Country scope

U.S., Canada, U.K., Germany, India, Japan, China, Brazil, and Mexico

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Million Insights has segmented the global industrial vending machine market report based on type, product, end-use, and region:

• Type Outlook (Revenue, USD Million, 2016 - 2027)
    • Carousel Vending Machine
    • Coil Vending Machine
    • Others

• Product Outlook (Revenue, USD Million, 2016 - 2027)
    • Maintenance, Repair & Operations
    • Personal Protective Equipment
    • Others 

• End-Use Outlook (Revenue, USD Million, 2016 - 2027)
    • Manufacturing
    • Oil & Gas
    • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
    • the Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa

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