According to the research report titled ‘Vertical Reciprocating Conveyor Market Size By Product (Mechanical VRCs, Hydraulic VRCs), By Type, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027’, available with Market Study Report, global vertical reciprocating conveyor market is expected to register momentous growth over 2021-2027.
 

Rising automation in the industrial sector, in consort with surging product adoption in oil rigs & refineries, warehouses & distribution facilities, and manufacturing plants are catalyzing the growth of global vertical reciprocating conveyor market.
 

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Additionally, equipment incorporation in proliferating e-commerce industry as well as manufacturing facilities for material handling is propelling the industry outlook.
 

Elaborating on the negatives, machine downtimes causing immense financial losses, coupled with affordability issues in emerging economies are likely to restrain the growth of the business domain in the ensuing years.
 

Based on product terrain, worldwide vertical reciprocating conveyor market is fragmented into hydraulic VRCs, and mechanical VRCs.

 

Speaking of type, the industry vertical is bifurcated into heavy capacity, and light capacity. The light capacity segment is anticipated to show steady growth in the ensuing years, owing to soaring usage in hotels and other establishments to transport laundry from one floor to the other.

 

In terms of application gamut, the market is classified into manufacturing facility, oil rigs & refineries, food & beverage processing & packaging, retail & department stores, pharmaceutical/chemical plants, automotive dealership, military & government facility, warehouse & distribution, printing & publication, hotels & lodging, mining & construction, and publishing/paper. The food & beverage processing & packaging segment is expected to grow significantly over 2021-2027, creditable to rising product adoption for diverse food handling requirements. These conveyors can be custom-built and require minimum maintenance & inspection.

 

As per expert verbatim, MEA industry is poised to grow significantly over the projected timeframe, accredited to expanding e-commerce sector, robust tourism, and high product demand from chemical industry.

 

Parallelly, rising demand for automated machines from construction sector in Latin America, flourishing manufacturing sector in Europe as well as proliferating retail industry in Asia Pacific are also propelling the market scenario in the respective regions.

 

Some leading companies in worldwide vertical reciprocating conveyor industry sphere are PFlow Industries Inc., Autoquip Corporation, Custom Industrial Products Inc., Wildeck Inc., GEBHARDT Fördertechnik GmbH, Beech Design & Manufacturing, Qimarox, and Hoosier Crane Service Company among many others.