According to a recent projection analysis by Fact.MR, demand for automobile lifts will continue to expand steadily in the near future. By the end of 2026, the worldwide Automotive lifts Market is expected to be worth US$ 9.9 billion. The report also predicts that the global market for automotive lifts will grow at a CAGR of 4.1 percent in terms of volume from 2017 to 2026.
The worldwide automotive landscape indicates rapid expansion in car sales, and in the future decades, the number of vehicles in use may exceed global population estimates. With limited work areas, this unmanageable expansion will put pressure on automakers, garages, and tyre vendors. In a few years, nearly every garage and automobile manufacturing facility will be equipped with vehicle lifts that can help with space efficiency.
Key Segments of the Automotive Lift Market
The automobile Lift market analysis by Fact.MR is broken down into four important segments: product, lifting capabilities, end-use application, and geography. This study provides in-depth information and data on key market dynamics and growth indicators connected with these categories.
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
Lifting Capacities
- 4000-9000 lbs
- 9000-12000 lbs
- 12000-15000 lbs
- 15000-20000 lbs
- 20000-35000 lbs
- Above 35000 lbs
The growing trend of lightweight vehicle production will keep industry participants focused on preliminary lifting capacity.
The majority of vehicle lift manufacturers will focus on lifting capacities ranging from 4,000 to 9,000 pounds. Almost every other automobile in 2018 and beyond will be created with a focus on keeping it light in weight, due to their function in improving fuel efficiency and overall performance.
BendPak, Inc., Challenger Lifts, Inc., Nussbaum Automotive Solutions LP, Rotary Lift, Stertil-Koni USA, Inc., SUGIYASU Co.Ltd, ARI-HETRA, Ravaglioli S.p.A, PEAK Corp, and EAE Automotive Equipment Co.Ltd. will all continue to expand their production of automotive lifts with preliminary lifting capacities in the coming years.
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