Vending

Industrial vending machines to take off, market to grow to $2.5B by 2029

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May 24, 2024

The global industrial vending machine market is expected to grow from $1.6 billion in 2024 to $2.5 billion by 2029, at a CAGR of 10.1% from 2024 to 2029, according to a Markets and Markets report.

The report analyzed the projected value of industrial vending machines by type (vertical lift, coil, carousel, scale, locker or drawer) and found that the carousel vending machine is expected to experience the most growth in value due to its ability to have compartments of various sizes and the fact that it can provide access to products by item, employee or designation. Additionally, the carousel vending machine has fewer moving parts, reducing its overall maintenance cost.

The report also revealed that the aerospace segment is expected to be one of the major adopters of industrial vending machine technology as a way to reduce foreign object debris (FOD). These machines will keep track of items and manage critical assets such as radios, scanners and airport ramp operations.

The key players in the industrial vending machine market include: