Vaccum Lifter Market to grow at a CAGR of 8.14% during 2024-2028
The Vaccum Lifter Market is expected to grow at a CAGR of 8.14% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 93.1 billion. In today's business environment, escalating labor costs and the scarcity of skilled labor pose significant challenges for industries reliant on manual labor, including construction and manufacturing. To mitigate these issues, there is a growing trend towards automation. Vacuum lifter manufacturers are responding to this demand by producing fully automated handling systems, which minimize labor costs and enhance manufacturing facility or worksite efficiency. In the glass and construction industries, which are characterized by numerous manual processes, vacuum lifter technology is poised to revolutionize operations. For instance, the sorting and packaging process in glass manufacturing can be automated, reducing the need for manual labor and increasing productivity.
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Technavio analysts predict that the Industrial manufacturing subsegment will lead the End-user segment during 2024 and 2028 In the industrial manufacturing sector, vacuum lifters play a pivotal role in material handling for industries such as glass and glass processing, metal production and processing, wood and wood processing, and stone and stone processing. These industries extensively utilize vacuum lifting equipment for efficient handling during manufacturing, processing, and warehousing stages. In the glass industry, vacuum lifters are particularly significant due to their ability to lift and transport glass sheets and flat panels without causing damage. Similarly, in the wood industry, vacuum lifters are used to handle lumber and wooden furniture, with advanced models capable of lifting curved and rough surface materials. Vacuum lifters are integral to processing lines for wood and wood products, including wood machining centers and door manufacturing.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish growing construction activities globally
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The vacuum lifter market encompasses a range of industrial supplies that utilize suction-producing vacuum pumps for lifting and transporting various materials. These vacuum lifting systems are essential for handling fragile items with care, as they provide even suction distribution and minimal contact with the load. The configuration of vacuum lifters varies, with both light duty and heavy duty options available to meet diverse weight requirements. Industrial applications of vacuum-based technology include the handling of timber, plastics, stone, and glass. Vacuum lifters are particularly useful for workplace safety, reducing the need for manhandling and the risk of injury. Automation is a key trend in the vacuum lifter market, with external sources such as conveyors and robots increasingly being integrated to streamline production processes. Standard suction pads come in various sizes and shapes to accommodate different load capacities. Vacuum lifters can be customized to handle irregularly shaped or heavy loads, making them versatile solutions for industrial products transportation. With the focus on safety and efficiency, vacuum lifters continue to gain popularity in industries seeking to optimize their material handling processes.
The industrial machinery and supplies and components market, encompassing manufacturers of equipment and components such as presses, machine tools, compressors, pollution control systems, elevators, escalators, insulators, pumps, roller bearings, and metal fabrications, represents a significant sector within the larger industrial machinery industry. According to Technavio's market analysis, the market size is determined by the consolidated revenue generated by these companies supplying machinery and components for industrial applications. Key growth drivers for this market include the expanding industrial output in process and discrete industries, fueled by increasing demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages, primarily in developing countries.
The Vaccum Lifter Market is experiencing significant growth, fueled by the growing construction activities globally. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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