Vertical lift module (VLM) is an enclosed system which comprises two columns of tray, each of which is separated into fixed shelf locations with an extractor or inserter in the center which can hold a single storage module such as a tray. The VLM automatically locates the stored trays and retrieves them from both the back and front of the unit by pushing a button and delivers them to the operator at an ergonomically positioned pick window. The VLM is designed to eliminate search time and to deliver the stored items to the operator. The module is capable of increasing the productivity up to two third (2/3). Vertical lift module is ideal for reducing the requirement of floor for stored materials. The module has the capability of reducing the square feet as much as 90% while saving money, time, and also increasing productivity. These modules are majorly used for order picking, kitting, consolidation, buffering, parts handling, buffer storage, inventory storage, and various other similar operations. They also help in improving the worker ergonomics, increasing labor productivity, and helps in controlling the ongoing process. VLMs are majorly utilized in automotive, industrial, and healthcare applications.

Increasing need for optimizing the floor space in warehouses, and rising warehouse rentals is expected to drive the VLM market over the forecast period. The benefits associated with the deployment of VLM as compared to standard shelving systems and increasing focus on worker safety and security has also influenced the VLM market growth positively. Furthermore, increasing global warehouse investments, integration of robotics, and growing demand for dual-delivery for numerous end-users is also anticipated to enhance the VLM market growth. VLMs are capable of reducing the labor while maintaining the pick volume, resulting in reduced operating cost in maintaining the warehouses, leading to increased adoption of the module. All the trays are protected from possible accidental collisions, and unauthorized manipulations and removals during storage, thus increasing safety in warehouses and leading to enhanced demand for VLMs. Additionally, the stored products are protected from debris and dust in the warehouse due to outer panel covering of the storage area, which is also expected to boost the implementation of VLMs over the forecast period. 

The global VLM market can be segregated based on delivery type, storage type, industry, and region. Based on delivery type, VLMs are categorized into single-level and dual-level. Single-level is projected to hold major share in revenue over the forecast period. Increasing demand for faster storage and retrieval of heterogeneous goods and growing need for maximum storage space utilization are responsible for the growth of the single-level VLM market. Furthermore, growing need for automated warehousing operations is also expected to drive the market for single-level VLM over the forecast period. Based on storage type, the VLM market is segmented into non-refrigerated and refrigerated VLMs. Non-refrigerated storage is expected to account for major VLM market share due to its huge implementation in metals and heavy machinery, aviation, automotive, and semiconductor and electronics industries for retrieval and storage of raw materials and components. It is majorly preferred because raw materials used in these industries are not susceptible to temperature change.

In terms of industry, the VLM market is categorized into metals & machinery, automotive, chemicals, food & beverage, and healthcare. Automotive industry is projected to witness huge implementation of VLMs over the forecast period. The increased implementation in the industry is due to automotive suppliers which are offering new and innovative products, based on advanced technologies and enabling the real-time information, in order to offer tremendous order fulfilment with respect to efficient product quality and delivery. Automotive suppliers are focused on managing large quantity of goods effectively and intend to improve storage capacity within the available floor space, leading to increased implementation of VLMs in the automotive industry.

Based on region, the global VLM market can be categorized into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe is anticipated to hold the maximum share of the VLM market over the forecast period. Various players in the region are mainly focused on promoting the launch of new and innovative products, advanced technologies, and the requirement of optimizing the warehouse space, leading to major implementation of VLMs.

Prominent players in the global VLM market include Kardex Remstar, Modula, SSI SCHAEFER, Ferretto, Weland Lagersystem AB, Haenel, System S.p.A, and ICAM S.r.l.

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