The global screw jacks market is expected to grow at a year-on-year growth of 4.7% in 2022, reaching a value of US$ 240.2 Mn by the end of 2022. The growing importance of repair and maintenance in the industrial sector is facilitating growth in the market. Focus on new product development among industry players and researchers is driving market expansion.
The global screw jacks market grew at a CAGR of about 2.0% between 2017 and 2021, according to the study. Material handling equipment sales are increasing significantly as production capacity increases.
Loading and unloading equipment such as ergonomic lifts and their components are expected to see an increase in demand. This is due to advancements in several industrial facilities, as well as an increase in demand for material handling equipment.
According to Future Market Insights, the global screw jacks market will grow at a 4.7% CAGR between 2022 and 2032 as a result of the aforementioned factors.
Screw jack sales are expected to increase as the automotive industry expands and vehicle sales increase globally. Automobile manufacturing in China and Germany is expanding rapidly. As a result, demand for lifting jacks as car equipment is expected to increase.
Screw jack sales are expected to increase as demand for automobiles grows, as simple repairs and maintenance necessitate the use of lifting jacks. As the number of vehicles on the road grows, so will the demand for automotive maintenance and repair services. Screw jacks are used to raise vehicles to perform basic repairs and maintenance.
As per the report, the U.S. screw jacks market is predicted to expand at 4.1% CAGR through 2022 & beyond. Growth in the market is primarily contributed to the development of new and innovative products in the automotive and construction sector.
According to the study, sales of screw jacks in the U.S. are expected to reach US$ 54.1 Mn by the end of 2032.
- Unimec SPA
- ANDANTEX Ltd.
- Joyce Dayton
- Thomson Industries Inc.
- Power Jacks Ltd.
- INKOMA Group
- Nippon Gear
- JM Engineering Works
- Lim-Tec Beijing Transmission Equipment Co. Ltd.