Surface mounted ground type lifts are used mostly in automotive manufacturing plants, garages, and other servicing centers. Several types of lifts are employed according to application; however, two-post surface mounted lifts are highly popular among several end-users. Automotive lifts are driven mechanically, hydraulically, or electronically. They provide strong support and offer reliable solutions during vehicle servicing.
Increased number of on-road vehicles and demand for automotive garages is projected to fuel the demand for automotive lift at a rapid pace during the forecast period. Likewise, growing production of passenger cars and commercial cars across the globe, owing to increase in per capita income, lower interest rates, and strong demand from consumers, is anticipated to drive the automotive lift market during the forecast period. Garage owners are opting for automotive lifts in order to enhance car servicing provided by them. Furthermore, increase in number of independent and OEM based garages is anticipated to boost the automotive lift market during the forecast period.
The global automotive lift market can be segmented based on type, material, end-use, lifting capacity, and region. Different types of automotive lifts are available which use according to their specific applications. Based on type, the automotive lift market can be classified into two-post lift, four-post lift, in-ground lift, and others. Two-post lifts are highly popular type of lift and hence, the segment is anticipated to hold a major share of the automotive lift market. Most independent garages employ two-post lifts, which offer good flexibility in work stations and they can be operated mechanically, hydraulically, or electronically. Two-post lifts are come with different load carrying capacities with at a lower price, as compared to other types of lifts.
Based on end-use, the automotive lift market can be bifurcated into OEM-based garages and independent garages. OEMs are undertaking aggressive steps as well as investing heavily in their service stations in order to provide better service facility and capture the aftermarket business. This, in turn, is anticipated to drive the automotive lift market during the forecast period.
The automotive lift market can be segregated into load carrying capacity in which different capacity automotive lifts are manufacture by considering the applications. In terms of load capacity, the automotive lift market can be segregated into 4000-9000 lbs, 9000-12000 lbs, 12000-15000 lbs, and others.
In terms of region, the automotive lift market can be classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific holds a major share of the global market owing to the presence of several independent garages and OEM garages. Furthermore, rise in sales of passenger vehicles, due to demand from consumers. Several factors such as increase in per capita income, and availability of low cost vehicle models propelling the car sales in the region. Likewise, the market in North America and Europe is expanding at a steady pace. Presence of several independent garages in Europe and North America is boosting the automotive lift market in these regions.
Key players operating in the automotive lift market include ARI-HETRA, AUTOPSTENHOJ, BendPak Inc., CASCOS MAQUINARIA, S.A., Challenger Lifts, Dannmar Equipment, Guangzhou Gaochang Hydraulic Technology Co., Ltd, Hunter Engineering Company, and HYWEMA.
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
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