PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1182886
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1182886
The Automotive Jacks Market size was valued at USD XX Million in 2021, expanding at a CAGR of 7.4% from 2022 to 2028.
A mechanical tool called an automotive jack is typically used to move heavy objects with little effort. It is employed to place, lift, and adjust the automobile in a variety of circumstances. Trucks and other vehicles can also be raised using automotive jacks so that their tires can be changed.
In the present era of industrialization, when transportation is a vital component, maintaining transport vehicles is crucial to their efficient operation. Automotive jacks are used to elevate the car to a specific height during maintenance procedures. During the forecast period, this is anticipated to increase demand for automobile jacks in heavy industries. Moreover, forklifts, excavators, and other heavy vehicles are all supported using automotive jacks. In turn, it is projected that over the projection period, heavy industries would experience an increase in demand for automobile jacks. Furthermore, To save running costs, automobile jack manufacturers are also implementing new technology and switching to sustainable operating practices, such as remote monitoring of jack activities. In the upcoming years, it is projected that this factor would open up new prospects for the global industry.
The Global Automotive Jacks Market is segmented based on product, pump type, vehicle, and Region.
Based on the product, the market is bifurcated into hydraulic bottle jacks, high tonnage jacks, scissor jacks, floor jacks, hi-lift jacks, and forklift jacks. Hydraulic bottle jacks are expected to dominate the market during the forecast period. The good operating characteristics of the bottle jack, such as ease of use, portability, and need for less room when traveling than the floor jack, are what essentially drive the worldwide bottle jack market. The increasing number of bridges being constructed all over the world is probably what is driving the demand for bottle jacks. Because bottle jacks support the foundation, the market's demand is anticipated to increase due to the rising need for infrastructure base maintenance. Additionally, the industrialized nations' significant investments in manufacturing and infrastructure are what fuel the market for bottle jacks.
Regionally, the market is segmented into North America, Europe, Asia Pacific, Latin America, and The Middle East and Africa. North America dominated the position in the worldwide automotive jacks market in 2021 as a result of the region's fully mechanized industries and advanced industrialization. Due to the significant demand for automobile jacks there, the U.S. is an important market in North America. Due to the numerous significant automobile manufacturers in the region, Europe is predicted to represent the second-highest share of the global automotive jacks market in 2021.
The scope of this report covers the market by its major segments, which include as follows: