Vertical Reciprocating Conveyor Market Growth Analysis | 2023-2028

Market Insights

The vertical reciprocating conveyor market was estimated at USD 589.46 million in 2022 and is likely to grow at a CAGR of 5.17% during 2023-2028 to reach USD 801.43 million in 2028.

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What is vertical reciprocating conveyor?

A Vertical Reciprocating Conveyor is an elevator that transports goods from one level to the next. These vertical material lifts, also known as freight elevators or vertical material lifts, transfer materials from one level to another at a lower cost than more expensive freight elevators.

Market Dynamics

The increasing demand for efficient machines that replace old manual lifting techniques is attributed to the market's rise. Vertical reciprocating conveyors are a reliable and safe means to raise and lower materials in factories, warehouses and distribution centers, industrial plants, and other locations where products or supplies must be moved from one level to another. In multi-story buildings, these conveyors can be built as an interior or external structure.

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Segment Analysis

By Product Type

The market is segmented as Mechanical VRCS and Hydraulic VRCS. Mechanical VRCS is expected to be in high demand during the forecast period as multi-floor facilities expand, there’s a need for materials to be moved smoothly and without harm to products. Mechanical conveyors are considered ideal for multi-level warehouses since they allow for setup of multiple floor levels and come in a variety of platform widths. When compared to a hydraulic lift, these conveyors can traverse across numerous levels and require less maintenance.

By Application Type

The market is segmented as warehouse & distribution, manufacturing facility, military & government facility, oil rigs & refineries, pharmaceutical/chemical plants, food & beverage processing & packaging, publishing/paper, printing & publication, automotive dealership, hotels & lodging, retail & department stores, and mining & construction. The growing e-commerce industry is expected to increase the demand for vertical reciprocating conveyors in warehouses and distribution hubs during the forecast period.

Regional Analysis

Asia-Pacific is estimated to be the leading region in the market over the forecast period. The growth of the region’s market is driven by ongoing developments in the industrial sector in economies such as China, India, and Japan, where the governments are encouraging the development of industry through beneficial policies. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The vertical reciprocating conveyor market is segmented into the following categories:

By Product Type:

• Mechanical VRCS
• Hydraulic VRCS

By Type:

• Light Capacity
• Heavy Capacity

By Application Type:

• Warehouse & Distribution
• Manufacturing Facility
• Military & Government Facility
• Oil Rigs & Refineries
• Pharmaceutical/Chemical Plants
• Food & Beverage Processing & Packaging
• Publishing/Paper
• Printing & Publication
• Automotive Dealership
• Hotels & Lodging
• Retail & Department Stores
• Mining & Construction

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players

Some of the key players in the vertical reciprocating conveyor market are -

• Autoquip Corporation
• Beech Design & Manufacturing
• NERAK Systems Inc.
• PFlow Industries
• Precision Automation Company, Inc.
• Verticon LLC.
• Wildeck Inc.
• Custom Industrial Products
• Damon Australia Pty Ltd.
• Industrial Kinetics
• Liuxi Machinery
• Nido Machineries.

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Option

With this detailed Capacity report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed Capacity profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation by any one of the types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.