Selbyville, Delaware, May 04, 2021 (GLOBE NEWSWIRE) —
Global Market Insights Inc. has recently added a new report on the vertical reciprocating conveyor market which estimates the market valuation for vertical reciprocating conveyor will cross US$ 700 million by 2027. The introduction of advanced technologies to ensure efficient handling of a large volume of goods in the manufacturing sector will drive the demand for vertical reciprocating conveyors.
The expansion of the healthcare sector along with the adoption of advanced technologies is driving the vertical reciprocating conveyor market growth. Pharmaceutical wholesalers are adopting conveyors to increase the efficiency and safety of moving goods within the premises. vertical reciprocating conveyors can lift pallets of empty totes and consumable materials from different floor levels to around a 10,000-square-foot concrete mezzanine. The platform can travel at 24 feet per minute and takes around 30 seconds to reach the mezzanine to unload the pallets. This has provided incremental opportunities for companies to expand their offerings for pharmaceutical/chemical plants.
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The Latin America vertical reciprocating conveyor industry is estimated to witness a strong growth over the forecast period. The growing industrialization and increasing government emphasis on infrastructure development in countries including Brazil and Mexico will drive the adoption of sophisticated conveying equipment across the region. For instance, in November 2019, the Mexican government announced to spend USD 44 billion on infrastructure, covering a wide range of public and transportation projects over the next five years.
The manufacturing industries are also highly investing in advanced technologies, such as robotics and AI, to increase productivity and economic growth. The increasing adoption of automated solutions will positively impact the regional vertical reciprocating conveyor market growth.
The key players operating in the vertical reciprocating conveyor market are focusing on strategic partnerships and acquisitions to expand their market presence. For instance, in August 2019, Quimarox partnered with Pacoma Systems, a manufacturer of internal logistics solutions. The partnership aimed to provide Prorunner mk5 vertical conveyors for the logistics operations of the company. The Prorunner mk5 lift offers a maximum capacity of 2,000 products per hour. This energy-efficient lift can be used to transport a wide variety of products including boxes, cases, trays, or bags quickly and smoothly to & from any height required.
Some major findings of the vertical reciprocating conveyor market report are:
- Vertical reciprocating conveyors provide convenient, fast, and efficient access to & from basements, mezzanines, balconies, and between different levels in multiple-story buildings. This has led to their increased adoption for rapid movement of materials and equipment in factories.
- Increasing demand for automated production processes to improve product quality along with eliminating errors and reducing variability will propel the adoption of vertical reciprocating conveyors. These conveyors enable the movement of loads without operator errors, eliminating safety concerns involved with the transferring of heavy materials within factories.
- The expansion of warehouse & distribution centers globally will positively impact the vertical reciprocating conveyor market growth. Leading e-commerce players are constructing multi-level warehouses to accommodate the growing demand for fast delivery. Vertical reciprocating conveyors allow the lifting of heavy cargo with quickness and efficiency, increasing the overall productivity of the facility.
- The key participants operating in the vertical reciprocating conveyor industry include Precision Automation Company, Inc., Custom Industrial Products, Verticon LLC, Qimarox, Nido Machineries, Autoquip Corporation, Beech Design & Manufacturing, Wildeck Inc., Amber Industries, Gebhardt Fördertechnik GmbH, Ningbo YiFan Conveyor Equipment Co. Ltd., and Hoosier Crane Service Company.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Vertical reciprocating conveyor industry 360º synopsis, 2017 – 2027
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Product trends
2.1.4 Type trends
2.1.5 Application trends
Chapter 3 Vertical Reciprocating Conveyor Industry Insights
3.1 Industry segmentation
3.2 Impact of coronavirus (COVID-19) pandemic
3.2.1 Global outlook
3.2.2 Regional outlook
18.104.22.168 North America
22.214.171.124 Asia Pacific
126.96.36.199 Latin America
3.2.3 Industry value chain
3.2.4 Competitive landscape
3.3 Industry ecosystem analysis
3.3.1 Raw material suppliers
3.3.2 Component suppliers
3.3.4 System integrators
3.3.5 Service providers
3.3.6 Distributors and resellers
3.3.7 Vendor matrix
3.4 Technological & innovation landscape
3.4.1 Data analytics & automation
3.4.2 Energy efficiency measures
3.5 Regulatory landscape
3.5.1 OSHA Standard Number 1910.212(a)(1)
3.5.2 Conveyor Safety Standards
3.5.3 ASME B20.1-2018
3.5.4 ANSI BS EN 1554:2012
3.5.5 OSHA Worker Rights & Protections
3.5.6 OSH Act of 1970
3.6 Industry impact forces
3.6.1 Growth drivers
188.8.131.52 Growing penetration of automation across the industrial sector
184.108.40.206 High demand for VRCs from the expanding e-commerce industry in the U
220.127.116.11 Development of the manufacturing sector in Europe
18.104.22.168 The emerging and modernizing retail industry in Asia Pacific
22.214.171.124 High demand for automated machines from the developing construction sector in Latin America
126.96.36.199 High demand for VRCs from the robust chemical industry in the Middle East & Africa
3.6.2 Industry pitfalls & challenges
188.8.131.52 Affordability issues in developing economies
184.108.40.206 Machine downtimes resulting in huge financial losses
3.7 Growth potential analysis
3.8 Porter’s analysis
3.8.1 Supplier power
3.8.2 Buyer power
3.8.3 Threat of new entrants
3.8.4 Threat of substitutes
3.8.5 Internal rivalry
3.9 PESTEL analysis
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.