Report ID: UCMIG20I2074
Report ID:
UCMIG20I2074 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The market for vertical reciprocating conveyors (VRC) was worth more than USD 500 million in 2020, and from 2021 to 2027, it is anticipated to increase at a CAGR of 5%. By 2027, it is expected that industry shipments will have exceeded 90 thousand units. The market expansion is driven to the rising need for effective machines that replace manual lifting methods that were previously used. The demand for VRCs is being fueled by the expansion of the logistics and e-commerce sectors as well, as these sectors require the efficient and secure transportation of items between various levels of a facility. The increased focus on ergonomics and worker safety is also anticipated to accelerate the adoption of VRCs across a range of industries.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Industrial Machinery by segment aggregation, the contribution of the Industrial Machinery in Capital Goods and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG20I2074