Hydraulic Jacks Market Projected to Witness Robust Development

Posted by surendra choudhary on February 22nd, 2021

Hydraulic Jacks: Introduction

  • A hydraulic jack is a device primarily used to lift heavy loads by applying less force. The type of force used to lift heavy loads varies depending on the type of jack. A hydraulic jack works on the basis of Pascal’s law.
  • Hydraulic jacks are also used for other applications such as lifting a truck or any other vehicle for changing its tires and lifting heavy loads in industries. These jacks are employed in lifting platforms, material handling equipment, earth-moving equipment, and cranes that are fitted with hydraulic jacks to lift loads.
  • Hydraulic jacks are of two types: floor jacks (trolley jacks) and bottle jacks (whiskey jacks and hand jacks). Hydraulic jacks offer certain advantages over mechanical jacks. They occupy less space and they are easier to use, effective for use with heavy loads, and little lighter than screw jacks.
  • The global hydraulic jacks market is projected to expand at a rapid pace during the forecast period, owing to increased demand for hydraulic jacks in different industries such as construction, shipyards, and automotive

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Global Hydraulic Jacks Market: Key Drivers and Restraints

  • Hydraulic jacks are used in heavy industrial and power equipment that need significant power to operate. They are used for all types of heavy machinery and vehicles, for example, excavators, forklifts, and elevators. This, in turn, is expected to boost the demand for hydraulic jacks in heavy industries during the forecast period.
  • Rise in the disposable income of consumers and growth of industrialization are major factors anticipated to boost the global hydraulic market in the next few years
  • Growth of the automotive industry and automation in the automotive industry play an important role in augmenting the global hydraulic jacks market
  • Hydraulic jacks lift loads with a minimum amount of efforts. This is a major factor anticipated to fuel the global market in the next few years.
  • Rising demand for hydraulic jacks from the construction sector and growth of the automation sector are expected to propel the global hydraulic jacks market during the forecast period
  • Additionally, hydraulic jack manufacturers are adopting new, renewable-based operating methods to reduce the operating cost and implement new technologies, such as remote monitoring of activities for hydraulic jacks. This factor is expected to create new opportunities for the global market in the next few years.
  • However, high maintenance costs of hydraulic jacks and limitation on use in offshore applications are major factors expected to hinder the global hydraulic jacks market in the next few years

North America to Hold a Major Share of Global Hydraulic Jacks Market

  • North America dominated the global hydraulic jacks market in 2018, due to complete mechanization of industries and matured industrialization in the region. The U.S. is a key market in North America, due to high demand for hydraulic jacks in the country. Europe is anticipated to hold the second-largest share of the global hydraulic jacks market in 2018.
  • The hydraulic jacks market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to rapid industrialization in India and China.

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Global Hydraulic Jacks Market: Competition Landscape

Key Players Operating in Global Hydraulic Jacks Market

Several local, regional, and international players operating in the market manufacture hydraulic jacks. Hence, the market is quite 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 hydraulic jacks market. Key players operating in the global hydraulic jacks market are:

  • SPX FLOW Inc.
  • JPW Industries Inc.
  • Torin Inc.
  • STANLEY Infrastructure
  • Zinko Hydraulic Jacks
  • Shinn Fu Company of America, Inc.
  • U.S. Jack Company
  • Craftsman
  • Techvos India
  • Canete Machinery Manufacturing Co., Ltd.
  • Shanghai Baoshan Hydraulic Tool Co., Ltd.
  • AC Hydraulic A/S
  • Halfords
  • SIP Industrial Products Ltd.

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surendra choudhary

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surendra choudhary
Joined: February 12th, 2019
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