An automotive jack is a mechanical device mainly used to lift heavy loads by applying less force. It is used to adjust, lift, and position the automotive in diverse situations. Automotive jacks are also used to lift a truck or any other vehicle for changing its tires.
Automotive jacks are of six types: floor jacks, scissor jacks, hydraulic bottle jacks, hi-lift jacks, high tonnage jacks, and forklift jacks. Automotive jacks offer certain advantages over mechanical jacks. They are easier to use and occupy less space and are effective for use with heavy loads.
The global automotive jacks market is projected to expand at a rapid pace during the forecast period, due to their increased demand in the automotive industry.
Global Automotive Jacks Market: Key Drivers and Restraints
Transportation is an integral part of today’s era of industrialization where maintenance of transport vehicles is essential for their effective functioning. Automotive jacks are used in maintenance activities for lifting the vehicle at a particular height. This is expected to boost the demand for automotive jacks in heavy industries during the forecast period.
Automotive jacks are used for all types of heavy vehicles such as forklifts, and excavators. This in turn is anticipated to fuel the demand for automotive jacks in heavy industries during the forecast period.
Rise in disposable income of consumers and growth of the automotive sector are major factors projected to boost the global automotive market in the next few years.
Increasing automotive maintenance activities is anticipated to increase the demand for automotive jacks.
Rising automation in the automotive industry plays an important role in boosting the global automotive jacks market. Automotive jacks lift loads with minimum effort. This is a major factor anticipated to fuel the global market in the next few years.
Rising demand for automotive jacks from construction vehicles which are used in the construction industry is expected to propel the global automotive jacks market during the forecast period
Additionally, automotive jack manufacturers are integrating new technologies and adopting renewable operating methods to reduce the operating cost, such as remote monitoring of activities for automotive jacks. This factor is anticipated to create new opportunities for the global market in the forthcoming years.
However, limitation on their use in offshore applications is the major factor anticipated to hamper the global automotive jacks market in the next few years.
North America to Hold a Major Share of Global Automotive Jacks Market
In terms of region, the global automotive jacks market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America dominated the global automotive jacks market in 2018, due to complete mechanization of industries and mature industrialization in the region. The U.S. is a key market in North America, due to high demand for automotive jacks in the country. Europe is anticipated to hold the second largest share of the global automotive jacks market in 2019 due to the presence of many large automotive manufacturers in the region.
The automotive jacks market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to increasing sales as well as production of automobiles owing to growing industrialization and globalization.
Global Automotive Jacks Market: Competition Landscape
Key Players Operating in Global Automotive Jacks Market
Several local, regional, and international players operate in the market and manufacture automotive jacks. Hence, the market is fairly fragmented and the bargaining power of suppliers is low. The degree of competition among market players is also high. Rapid technological advancements have led to threat of substitution in the global automotive jacks market. Key players operating in the global automotive jacks market are:
