Automotive Lift Market Overview, Growth, and Trends (2021-2031)

MARKET OVERVIEW

Automotive lift is a lift which is basically used for lifting vehicles in garages, manufacturing sites, or any other repair centers. As per the respective need, distinct types of lifts are used. Some of them are four-post lift, two-post lift, in-ground lift, scissor lift, mobile column lifts etc. Considering growing demand for various vehicles, automotive lift market is predicted to grow notably in coming years all over the world.

MARKET SCOPE

The "Global Automotive Lift Market Analysis to 2031" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the automotive lift market with detailed market segmentation by type, capacity, end-user, and geography. The report provides key statistics on the market status of the leading automotive lift market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on type, the global automotive lift market is segmented into two-post lift, four-post lift, scissor lift, in-ground lift, mobile column lifts and others.
  
•   On the basis of capacity, the market is segmented into below 9000 lbs, 9000 - 15000 lbs, 15000-20000 lbs and above 20000 lbs.
  
•   Based on end-user, the market is bifurcated into garages and auto manufacturers.
  

MARKET DYNAMICS

Drivers:

•   Strict standards regarding safety of the working environment.
  
•   Rising urbanization and increasing disposable income to boost market growth of automotive lifts.
  
•   Rapidly advancing technology further drives the demand.
  

Restraints:

•   Unorganized retail sector in some developing countries of Asia.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive lift market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive lift market in these regions.

IMPACT OF COVID-19ON AUTOMOTIVE LIFT MARKET

The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities. This pandemic restricted movement of people from one place to another. Hence, demand for new vehicles was very less. Since there was no much wear and tear of vehicles, automotive lifts were not in much demand at garages and service centers also. All these factors have impacted the automotive lift market negatively.

MARKET PLAYERS

The report covers key developments in the automotive lift market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from automotive lift market are anticipated to lucrative growth opportunities in the future with the rising demand for automotive lift in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the automotive lift market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   BendPak Inc.
  
•   Challenger Lifts
  
•   EAE Automotive Equipment Co.,Ltd.
  
•   Hunter Engineering Company
  
•   Mohawk Lifts, LLC.
  
•   Nussbaum Custom Lifts GmbH
  
•   Ravaglioli S.p.A.
  
•   Rotary Lift
  
•   Stertil-Koni USA
  
•   SUGIYASU Co.Ltd.
  
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Automotive Lift Report Scope