NEW
YORK, July 2, 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..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Distribution Channel
(Offline and Online), Vehicle Type (Passengers and Commercial), and
Geography (APAC, Europe, North America, Middle East and Africa, and
South America)
|
Region
Covered
|
APAC, Europe, North
America, Middle East and Africa, and South America
|
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.
|
Key Market Trends Fueling Growth
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.
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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.
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challenges - Download a Sample Report
Segment Overview
This automotive two-post lift market report extensively covers
market segmentation by
- 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 (2018 -
2022) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global Automotive Engineering Service Providers (ESP) Market
is expanding rapidly, driven by innovations in vehicle technology
and increasing demand for electric and autonomous vehicles.
Concurrently, the global Micromobility Market is experiencing
significant growth, fueled by the rising popularity of e-scooters,
e-bikes, and other compact, eco-friendly transport solutions in
urban areas. Additionally, the global Automotive Digital Key Market
is set to revolutionize vehicle access and security, with
advancements in smartphone-based digital key technologies enhancing
user convenience and vehicle safety. These interconnected markets
are shaping the future of transportation, emphasizing
sustainability, innovation, and enhanced user experiences.
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
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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