Market Research Future (MRFR) has published on the “Global Automotive Jack Market”
The Market is estimated to register a CAGR of 6.20% during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global Automotive Jack Market— Whiting Corporation, Shinn Fu, Macton, Emerson, QuickJack, Jinyun County Zhaoshi Tools, CAP, Dino Paoli, REPCO, MECHPRO and OMEGA
Market Highlights
The global Automotive Jack Market is expected to register a CAGR of 6.20% during the forecast period and is estimated to reach USD 25.7 billion by 2032.
The increasing growth of the automotive maintenance sector and the increased use of heavy vehicles are the key drivers of the automotive jack market. However, the product's high cost impedes market growth. Furthermore, the growing number of automobile repair garages, as well as the expansion in repair and maintenance activities, create profitable potential for the automotive jack industry.
Browse In-depth Detailed Research Report [Table of Content, List of Figures, List of Tables] of Global Automotive Jack Market
Segment Analysis
The global Automotive Jack Market has been segmented based on Type and Application.
The Type segments the market into Scissor Jack, Hydraulic Jack And Others. The hydraulic jack category accounted for the greatest market share in 2023. Hydraulic jacks use fluid mechanics to elevate the vehicle by providing pressure to a hydraulic cylinder.
Application segments the market into Online Channels And Offline Channels. Online channels have dominated the market in 2023 because of the accessibility of comprehensive product details and user feedback.
Regional Analysis
The global Automotive Jack Market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of the US and Canada. The Europe Automotive Jack Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Automotive Jack Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Automotive Jack Market comprises of Middle East, Africa, and Latin America.
In terms of the worldwide automotive jack market, North America is the leader because of the high rates of automobile ownership in the area and the thriving automotive sector. Demand is being driven up by the region's sophisticated infrastructure and a strong emphasis on car maintenance and safety. The United States has a large market share in North America due to the country's high demand for automobile jacks.
Moreover, Europe is anticipated to have the second-largest market share because of the region's abundance of significant automakers and brands, which is anticipated to improve the market outlook.
Additionally, the Asia-Pacific market is expected to expand rapidly in the next years as a result of the region's rising urbanization and industrialization. The region has a large population, which boosts the demand for private vehicles. This causes a rise in vehicle production, which raises the demand for car jacks. Developing economies, such as India and China, have a growing middle-class population with increasing purchasing power, which is predicted to promote automobile ownership. Furthermore, the rise of automotive repair and maintenance services in the region is estimated to fuel the market throughout the forecast period.
The rest of the world Automotive Jack Market is segmented into three regions: the Middle East, Africa, and Latin America. These regions are well-known for producing and consuming scissor jacks, in part because of their strong automotive industry and substantial manufacturing capabilities.
Key Findings of the Study
- The global Automotive Jack Market is expected to reach USD 25.7 billion by 2032, at a CAGR of 6.20% during the forecast period.
- The Asia-Pacific market is expected to expand rapidly in the next years as a result of the region's rising urbanization and industrialization.
- The hydraulic jack category accounted for the greatest market share in 2023 based on type.
- Whiting Corporation, Shinn Fu, Macton, Emerson, QuickJack, Jinyun County Zhaoshi Tools, CAP, Dino Paoli, REPCO, MECHPRO, and OMEGA are key market players.
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Companies Covered | 15 |
Pages | 128 |
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