The Europe Industrial Vending Machine Market would witness market growth of 9.8% CAGR during the forecast period (2023-2029).
Industrial vending machines are becoming increasingly prevalent in small and medium-sized production facilities because of benefits like cost-effectiveness and low energy usage. This is projected to increase market sales in the near future. In addition, businesses will pay more attention to improving performance and lowering inventory management, leading to growth in the market for industrial vending machines.
The requirement for expensive on-site maintenance can be eliminated by using this technology to remotely diagnose issues and monitor the functioning of machines. In addition, intelligent vending machines are adaptable and can be installed in various locations, such as hotels, airports, hospitals, and office buildings. The need for smart vending machines will rise as long as these markets keep expanding. These elements offer the market significant growth prospects.
According to a report from the Germany Trade and Investment (GTAI) organization, the amount of housing construction in Germany surged from EUR 245 billion in 2019 to EUR 264 billion in 2020, whereas the public & commercial sectors raised to EUR 65 billion and EUR 130 billion, respectively. The German government and rail corporation Deutsche Bahn has committed to spending EUR 86 billion over the next ten years on switching stations, trains, and other infrastructure. Vending machine demand at construction sites in the region would increase due to the expanding construction industry.
The Germany market dominated the Europe Industrial Vending Machine Market by Country in 2022 thereby, achieving a market value of $344.7 million by 2029. The UK market is experiencing a CAGR of 8.8% during (2023 - 2029). Additionally, The France market would exhibit a CAGR of 10.6% during (2023 - 2029).
Based on End-use, the market is segmented into Manufacturing, Oil & Gas, Construction, Aerospace and Others. Based on Product, the market is segmented into Personal Protective Equipment (PPE), Maintenance, Repair, & Operations (MRO) Tools and Others. Based on Type, the market is segmented into Coil Vending Machine, Carousel Vending Machine, Cabinet Vending Machine and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Industrial Vending Machine Market is Projected to reach USD 5 Billion by 2029, at a CAGR of 10.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apex Industrial Technologies, LLC, AutoCrib, Inc., SecuraStock, CribMaster (Stanley Black & Decker, Inc.), Fastenal Company, IVM, Inc., Rubix Group International Limited (Brammer), SupplyPro, Inc., Silkron, and Air Liquide S.A. (Airgas, Inc.).
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