NEW
YORK, June 17, 2024 /PRNewswire/ -- The
global automotive two-post lift market size is estimated
to grow by USD 655.9 million from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of almost 9.59% during the forecast period. Growing
market for four-wheelers is driving market growth, with a
trend towards increasing average age of vehicles to push
automotive repair and maintenance service industry.
However, increasing repair and maintenance costs in
automobiles poses a challenge. Key market players include
Aichi Brand, Amfos International,
ARI HETRA, ATS ELGI, BendPak Inc.,
Challenger Lifts Inc., EAE Automotive Equipment Co. Ltd., Force
Auto Solutions, Hunter Engineering Co., LAUNCH Shanghai Machinery
Co. Ltd., MAHA Maschinenbau Haldenwang GmbH and Co. KG, MBL Impex
Pvt. Ltd., Newtech Equipment, Nussbaum Automotive Solutions LP,
PEAK Corp., PRAMUKH EQUIPMENTS, Rotary Lift, Shailendra
Enterprises, Shivalik Automotive Garage Equipments, and Stertil
Koni USA Inc..
Get a detailed analysis on regions, market
segments, customer landscape, and companies- View the
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Automotive Two-Post
Lift Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
9.59%
|
Market growth
2024-2028
|
USD 655.9
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
8.52
|
Regional
analysis
|
APAC, Europe, North
America, Middle East and Africa, and South America
|
Performing market
contribution
|
APAC at 46%
|
Key
countries
|
China, US, Germany,
Japan, and UK
|
Key companies
profiled
|
Aichi Brand, Amfos
International, ARI HETRA, ATS ELGI, BendPak Inc., Challenger Lifts
Inc., EAE Automotive Equipment Co. Ltd., Force Auto Solutions,
Hunter Engineering Co., LAUNCH Shanghai Machinery Co. Ltd., MAHA
Maschinenbau Haldenwang GmbH and Co. KG, MBL Impex Pvt. Ltd.,
Newtech Equipment, Nussbaum Automotive Solutions LP, PEAK Corp.,
PRAMUKH EQUIPMENTS, Rotary Lift, Shailendra Enterprises, Shivalik
Automotive Garage Equipments, and Stertil Koni USA Inc.
|
Market Driver
The automotive two-post lift market relies on the expansion of
the automotive repair and maintenance services sector. This growth
is driven by the increasing number of vehicles on the road
worldwide. The rise in vehicle numbers is due to the increasing
average age of vehicles, particularly in developed countries.
Better-quality vehicles and advanced repair services contribute to
this trend.
The aging fleet presents a significant business opportunity for
automotive repair and maintenance services, leading to their
expansion and increased capacity. Developing economies, with their
existing high vehicle ages, also contribute to the demand for
automotive two-post lifts, ensuring steady market growth.
The Automotive Two-Post Lift market is experiencing significant
growth due to the increasing demand for efficient and effective
vehicle servicing solutions.
Passenger cars and commercial vehicles require regular
maintenance, leading to a surge in the use of two-post lifts.
Commercially, vehicle repair shops and garages are the major
consumers of these lifts. The vehicle lift industry is evolving
with advances in technology, making lifts more versatile and safer.
Customers value the space and flexibility offered by these lifts,
enabling them to service a variety of vehicles with ease.
The sector is also witnessing a trend towards automotive service
centers adopting more advanced technology to enhance their
offerings and stay competitive. The future looks promising for the
automotive two-post lift market, with continued growth expected in
the coming years.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The global automotive two-post lift market faces rising repair
costs as a result of increasing vehicle ages and complexities.
Labor rates, part prices, and vehicle complexity contribute to this
trend. Repair shops must carefully balance pricing with these
factors, potentially impacting market revenue growth during the
forecast period. Modern vehicles' higher quality and
longer lifespan offset some cost benefits, making
affordability a key concern for customers.
- The Automotive Two-Post Lift market faces several challenges.
Production and supply of these lifts require careful consideration.
High raw material costs impact pricing, while ensuring quality and
durability is essential for customer satisfaction. Regarding
safety, compliance with industry regulations is crucial.
- Rapid technological advancements necessitate continuous
innovation to meet evolving market demands. Additionally, logistics
and distribution pose challenges due to the size and weight of
these lifts. Lastly, the competitive landscape puts pressure on
companies to offer competitive pricing and efficient service.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
- Distribution Channel
- Vehicle Type
- 2.1 Passengers
- 2.2 Commercial
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Offline- The Automotive Two-Post Lift Market is
experiencing steady growth due to increasing demand for vehicle
maintenance and repair services. This market caters to garages and
workshops, providing them with efficient lifting solutions for
various vehicle types. Two-post lifts offer advantages such as
versatility, space-saving design, and ease of use, making them a
preferred choice for many automotive businesses. Additionally,
ongoing technological advancements in lift mechanisms ensure
improved safety and productivity.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The automotive two-post lift market caters to the needs of both
the passenger car and commercial vehicle applications within the
automotive sector. These lifts are essential for vehicle repairing
in garages, contributing significantly to the vehicle lift market
in the automobile industries. Advanced automotive lifts, such as
scissor lifts, ensure a safe working environment for customers and
technicians.
The market for automotive lifts is experiencing rapid growth due
to industrialization and the production of hybrid and electric
vehicles. Space requirement and operational time are crucial
factors influencing the demand for these lifts in the industrial
sector. Additionally, the residential sector, particularly home
garages, benefits from the urbanization trend and the increasing
popularity of four-wheelers. Reliability and safety remain
paramount considerations in the selection and use of automotive
two-post lifts.
Market Research Overview
The Automotive Two-Post Lift Market encompasses the production,
sales, and installation of two-post vehicle lifting systems. These
systems, utilized extensively in garages and workshops, facilitate
efficient vehicle maintenance and repair. The market's growth is
driven by factors such as increasing vehicle parc and the rising
demand for advanced lifting technologies.
Two-post lifts offer versatility, as they can accommodate
various vehicle types and sizes. Safety features, including
automatic locking mechanisms and overload sensors, ensure secure
lifting. The market's competitive landscape is shaped by factors
like product innovation, pricing strategies, and distribution
networks. The future of the market lies in the integration of smart
technologies and the development of eco-friendly lifting
solutions.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- Vehicle Type
-
- Geography
-
- APAC
- Europe
- North America
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio