Global Vehicle Lift Market– Introduction
- Vehicle lift are designed to lifts to safely transport a commercial and industrial automobile or vehicle from one height to another without or with an occupant. Vehicles can range from full-size to compact size i.e. vans, cars, SUVs, and trucks. Additionally, each vehicle offers different interior space and weight capacities. Furthermore, vehicle lift is also known as car lift, which is specialized in the vertical movement of automobiles or vehicles.
- Beside it, vehicle lift are generally designed in robust and simple, so that it can withstand the blows well, so as to facilitate the exist and entry of vehicles.
- Vehicle lifts are designed with varying degrees of automation from partial to manual automated and to fully automatic depending on lifting and securement.
- Vehicle lifts is one of the most important industrial tool used in service and repair bays or garage. As, it is an integral part of vehicle or automobile repair and maintenance task.
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Global Vehicle Lift Market–Dynamics
Key Drivers of the Vehicle Lift Market
- Growing industrialization in developing and developed countries is expected to drive the vehicle lift market during the forecast period.
- Continuous growth in automobile production is also one of the important factors boosting the growth of the global vehicle lift market across the globe.
- Rise in demand of vehicle lifts in garages in automotive industry, due to strict standards on safety of working environments in automotive industry especially in garages is expected to boost the global vehicle lift market across the globe. Additionally, considering that major automobile repairs initially in automotive maintenance industry for vehicle lifts which can overtake car jacks, will accelerate the demand of vehicle lift market worldwide.
- Furthermore, rising adoption of electric vehicles across both developed and developing economies is surging the growth of the vehicle lift market. Demand for electric vehicles is expected to record accelerated growth in the upcoming years. This in turn is expected to boost the growth of the vehicle lift market.
- Growing production of commercial cars and passenger cars across the world, due to lower interest rates, rise in per capita income, and strong demand from consumers, is projected to drive the vehicle lift market during the forecast period 2019- 2027.
North America to Hold Major Share of the Global Vehicle Lift Market during the Forecast Period
- North America is expected to hold a prominent share of global vehicle lift market due to adoption of vehicle lift in the U.S. country, which is the lucrative marketplace for automotive. Additionally, it is due to extend presence of home garages across the US.
- Asia Pacific is expected to hold a significant share of global vehicle lift market during the forecast period due to the growing urbanization and increasing population that has led to the increase in commercial and industrial applications.
- Furthermore, rapid industrialization and the fast growing economy in India and China has resulted in high adoption of vehicle lift in the automotive sector, which in turn is expected to drive the demand for vehicle lift over the next few years.
- The Vehicle Lift market in Europe is anticipated to expand at a significant rate during the forecast period due to growth of automotive sectors in the region. This in turn is expected to propel the market in the region in the next few years.
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Global Vehicle Lift Market–Competition Landscape
Key Players Operating in the Global Market
The global vehicle lift market is highly concentrated with top manufacturers accounting for approximately 25%–30% of the market share. A few of the key players operating in the global vehicle lift market are listed below:
- BendPak, Inc.
- ATS ELGI.
- CASCOS MAQUINARIA, S.A.
- Challenger Lifts, Inc.
- Nussbaum Automotive Solutions LP.
- Eagle Equipment.
- Garage Equipment Supply.
- Stertil-Koni USA, Inc.
- Ravaglioli S.p.A,
- EAE Automotive Equipment Co., Ltd.
- Gemco Equipment Ltd.
- Atlas Auto Equipment
Global Vehicle Lift Market–Research Scope
The global vehicle lift Market can be segmented based on:
- Distribution channel
Global Vehicle Lift Market, by Type
Based on type, the global vehicle lift market can be divided into:
- Post Surface Mounted
- Two Post Lifts
- Overhead Lifts
- Floor Plate Lifts
- Four Post Lifts
- Scissor Car Lifts
- Portable Car Lifts
- In ground Car Lifts
- Mobile Column Car Lifts
- Parking Lifts
Global Vehicle Lift Market, by Distribution Channel
Based on distribution channel, the global vehicle lift market can be segregated into:
- Direct sales (OEM)
- Indirect sales
- Vehicle Lift customers
Global Vehicle Lift Market, by Application
Based on application, the global vehicle lift market can be categorized into:
Global Vehicle Lift Market, by End User
On the basis of end user, the global vehicle lift market can be categorized into:
- Hyper Market
- Super Market
Global Vehicle Lift Market, by Region
Based on region, the global vehicle lift market can be categorized into:
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
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
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
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?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.