Vertical Lift Module Industry - Regional Synopsis
European Market Forecast
Europe held the greatest portion of the vertical lift module market with a revenue share of around 33%. The promotion of new goods, technological improvements, and warehouse space optimization are the drivers that are fueling Europe's need for vertical lift modules. Europe is a market with enormous potential, and major industrial sectors like automotive and aviation have seen a surge in the number of vertical lift module installations in the region.
APAC Market Statistics
The Asia Pacific is estimated to hold 25% share of the global vertical lift module (VLM) market. The growth of the vertical lift module storage market in the APAC region is being fuelled by important factors such as the booming semiconductor and electronics industries, the rising need for warehousing management solutions, and automated material handling systems. For instance, as of March 31, 2022, Japan had about 138.33 thousand battery electric passenger automobiles, up from over 125.86 thousand the year before.
