Automotive Lifts Market
Automotive Lifts Market Analysis by Product (Four-Post Car Lift, Two-Post Car Lift, Scissor Car Lift), By Lifting Capacities (4000-9000 lbs, 9000-12000 lbs, 12000-15000 lbs), by End Use & Region - Global Forecast 2019 - 2026
Garages to be Most Profitable End Users for Automotive Lifts
Strict regulations on safety of working environments have put encumbrances on garages & workshop owners. Garage owners are therefore focusing on installing automotive lifts. Besides offering a safe environment to work in, automotive lifts also ease operations in garages.
The increased space is an added advantage for installing automotive lifts. Several automotive lift manufacturers are focused on providing custom solutions to garage owners to offer best solutions for space optimization.
Increasing costs of spare parts, high replacement rate of components and feasible labor costs make commercial garages profitable businesses, which in turn drives the installation rate of advanced automotive lifts. It is projected that more than one-third of automotive lifts are projected to be sold via garages, throughout the assessment period of 2019 – 2026.
Surpassing a value opportunity of more than US$ 2.8 Bn the newest report by Fact.MR estimates the automotive lifts market to grow at a steady CAGR of more than 4.2% during the assessment period of 2019 – 2026.
Scissor Lifts to Lead the Way throughout the Assessment Period
Heightened demand for safety equipment that occupies minimal space and provides high throughput in working environment has significantly increased in the last few years. Scissor lifts are fully retracted and take up very little space in the operating environment. This saves operational time and helps to eliminate potential body twisting injuries.
Further, even distribution of working load reduces the incidents of lift failure. Scissor lifts became the utmost installed automotive lift in 2019. In same year, one in every four lifts sold in global market were estimated to be a scissor lift. Owing to these factors, scissor lifts are gaining rapid prominence and are predicted to grow 1.3X during the assessment period.
Motorization Rates and Improved Vehicle Runs will Stoke Growth of Automotive Lift Market
On the backdrop of robust sales in automotive sector, global motorization rate is expected to surpass 400 vehicle per 1000 population in coming decades form nearly 230 in 2019, vehicle run per kilometer has also increased. This has led to increased component replacement and maintenance.
In modern vehicles, most of the components are fixed or replaced under the car. Vehicles are required to be at a certain height for under body work to be carried out effectively. For this reason, garages and automotive manufacturing units will be equipped with automotive lifts in the foreseeable future.
Developed Regions Grasp More Than 70% Share of Automotive Lifts Demand
North America and Europe will emerge as lucrative marketplaces for adoption of automotive lifts owing to the existence of high number of vehicles per capita. For instance, in U.S. almost every household owns a car if not a fleet of vehicles.
North America and Europe collectively held more than 70% of the automotive lift demand in 2019, owing to their stringent regulatory stance on building a safe environment in automotive manufacturing and aftermarket repair works.
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Stakeholders Targeting Preliminary Lifting Capacities and Low Height Lifts
Catering to the demands of commercial garages will always remain highly profitable for automotive lift manufacturers. However, in the last couple of years, demand for automotive lifts have seen a sharp increase across home garages in developed regions.
The low height of home garages may create certain challenges for existing product lines. However several companies are offering redesigned automotive lifts that are suitable in low height environment along with lifting capability of 4000-9000 lbs.
Key Segments of the Automotive Lift Market
Fact.MR’s study on the automotive Lift market offers information divided into four key segments-product, lifting capabilities, end-use application and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
By Product :
- Four-Post Car Lift
- Two-Post Car Lift
- Scissor Car Lift
- Portable Car Lift
- In-Ground Car Lift
- Alignment Car Lift
- Mobile Column Car Lift
- Parking Lift
By Lifting Capacities :
- 4000-9000 lbs
- 9000-12000 lbs
- 12000-15000 lbs
- 15000-20000 lbs
- 20000-35000 lbs
- Above 35000 lbs
By End Use Application :
- Auto Manufacturers
- Tire Manufacturers
By Region :
- North America
- Latin America
- Asia Pacific Ex. Japan
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