According to Future Market Insights, the anticipated size of the portable wheel jack market in 2022 was USD 28.12 billion. This value is estimated to reach USD 30.53 billion in 2023. From 2023 to 2033, sales of portable wheel jacks are most likely to accelerate at a CAGR of 8.7% to reach a valuation of USD 70.33 billion.
Stringent implementation of these safety standards is not only put in people’s lives but also across several industries that are considered to be quite helpful leading to the overall development of the portable wheel jack market globally during the forecast period.
Future Market Insights has mentioned in its reports that the portable wheel jack market will expand at a CAGR of 8.7% between 2023 and 2033, totaling around USD 70.33 billion by 2033.
Increasing application across the construction and mining sector to support and lift heavy loads, equipment, machineries, and others are propelling the demand for portable wheel jacks. Europe is expected to emerge as the most remunerative market, followed by East Asia, contributing nearly 22% of the overall portable wheel jacks sales through 2029.
The hydraulic portable wheel jack segment is projected to hold the maximum share in the market, accounting for more than 50% of the revenue share through 2033.
The market is driven by increasing consumer demand for portable wheel jacks, which have valuable qualities such as ease of use, compact size, cost-effectiveness, and high weight lifting capacity.
Based on the product types of the portable wheel jack market, demands for hydraulic floor jacks have surged throughout auto service centers owing to their simplicity of use, affordability, and capacity to lift a variety of weights.
Rising demand for passenger cars is predicted to fuel the market's growth for portable wheel jacks as many OEMs already incorporate scissor jacks in motor vehicles for emergency use.
The United States, China, the United Kingdom., and India all have rapidly growing aerospace industries, which, along with expanding train and aircraft fleets, are promoting portable wheel jack market expansion.
| Attributes | Details |
|---|---|
| Projected Forecast Value (2022) | USD 28.12 billion |
| Projected Forecast Value (2023) | USD 30.53 billion |
| Projected Forecast Value (2033) | USD 70.33 billion |
| Growth rate | 8.7% CAGR |
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The global portable wheel jack market grew at a CAGR of 7.4% between 2018 and 2022. Growth forecasts remain optimistic, with the market predicted to exhibit a CAGR of 8.7% between 2023 and 2033.
Portable jacks are mobile mechanical lifting devices used to lift heavy loads, provide support, and apply great force. They work as a force multiplier assisting the customer to lift heavy objects with ease.
Driven by this, portable jacks are extensively gaining popularity in garages, automotive paint shops, and car service stations. Customer preference towards adopting hydraulic wheel jacks owing to their favorable characteristics such as ease of use, compact size, cost-effectiveness, and high weight lifting capacity is accelerating sales in the market.
Increasing Investment in the Construction of Infrastructures
With growing urbanization, governments in various countries are increasingly investing in the construction of massive infrastructures and projects.
For instance, according to the India Brand Equity Foundation, the Indian Government announced allocating USD 1.89 billion to Atal Mission for Rejuvenation and Urban Transformation (AMRUT) for supporting the initiatives such as ‘Smart City Mission’ and ‘House For All’ in 2021.
As hydraulic and scaffolding jacks are extensively used in construction of buildings for lifting heavy wooden slabs, supporting floorings, and resorting building foundations, increasing construction activities is projected to facilitate the growth in the market.
Surging demand for high tonnage mining jacks from rapidly expanding mining sector across countries such as China, India, Australia, and the United States, is estimated to bode well for the portables wheels sales.
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Burgeoning Demand for Passenger Cars to Favor Scissor Jack Sales
FMI says the United States is anticipated to dominate the market in North America holding a market share of 29.2%, assisting the region to account for 18.4% of the overall sales in 2022.
Increasing sales of automotive vehicles in the United States is the primary factor favoring the growth in the country. According to a report by the International Energy Agency, approximately 17 million cars were reported to be sold across the United States in 2019.
As scissor jacks are provided in all automotive vehicles by automakers for emergency use, growing demand for passenger cars is estimated to accelerate the sales of portable wheel jacks labs in the market.
Increasing use of portable wheel jacks in automotive repair and maintenance and air transport maintenance, repair, and overhaul (MRO) applications is facilitating growth in the United States.
Surging Applications in Ship Building Sector Propelling Swivel Jacks Demand in Europe
Swivel hydraulic jacks are gaining immense popularity across the ship manufacturing and repair sector where Europe considerably holds a value share of 26%.
They are increasingly being used for the alignment of heavy ship parts, lifting wooden slabs, and supporting other ship-building equipment during the production, repair, and maintenance of ships. This is estimated to accelerate the sales of hydraulic jacks in the country.
Increasing demand for novel high-performance portable jacks such as electric and pneumatic jacks across rail-guided vehicles and aircraft service industries in Germany is projected to facilitate growth in the country.
FMI states that the increasing sales of portable jacks in Germany are estimated to assist Europe to account for 22% of the total market share by the end of 2022.
Growing Number of Automotive Repair Shops to Shoot-up the Demand for Mechanical Jacks
Future Market Insights estimates that India will account for a significant share of the South Asia market between 2023 and 2033.
With rising production and sales of automotive vehicles, leading automotive manufacturers are increasingly aiming at opening new car service centers and repair shops in the country. For instance, Mercedes-Benz, a leading German luxury automaker announced launching a new workshop facility in Bangalore, India in March 2020.
A rise in number of car service centers in the countries is projected to increasing the demand for tools and devices used for repair and maintenance of automotive vehicles including mechanical jacks.
On account of this, the market in India is anticipated to register rapid growth, supporting South Asia to account for around 13% of the total portable wheel jack sales in 2022.
Growing Demand for Hydraulic Floor Jacks in Automotive Repair Sector to Bolster Sales
Global portable wheel jack market is segmented into hydraulic jacks, pneumatic jacks, electric jacks, and manual jacks. FMI predicts that the hydraulic jacks segment is projected to dominate the market, accounting for over 50% of total sales over the assessment period.
Increasing adoption of hydraulic floor jacks for lifting heavy cars for maintenance and repair across car service centers, owing to their ease of use, cost-effectiveness, and ability to lift multi-toned weights is propelling the demand in the segment.
Increasing use of Scaffolding Jacks in Construction Activities to Uplift Portable Wheel Jacks Sales
Future Market Insights states the construction and mining segment is anticipated to account for a significant share of the global market between 2023 and 2033.
Scaffolding jacks are increasingly used as temporary platforms for supporting the wooden slapping boards during the construction and maintenance of infrastructures.
Hence, increasing construction activities across China, India, the United States, and Germany among others are propelling the demand in the segment.
Apart from this, the aerospace segment is projected to register robust growth in the market through 2033. Growing application of axle aircraft jacks for lifting the main landing gear during aircraft maintenance involving brake service repair and tire repair and replacement is favoring the growth in the segment.
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Some of the prominent players in the global market are-
Some of the important developments of the key players in the market are:
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 8.7% from 2023 to 2033 |
| Market value in 2023 | US D30.53 billion |
| Market value in 2033 | USD 70.33 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD billion for Value and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Product Type, End-Use, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East & Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Horizon Global Corp.; Curt Manufacturing LLC; Lippert Components Inc.; Gray Manufacturing Company Inc.; Osaka Jack Co. Ltd.; Tronair Inc.; Kubanzheldormash Co.; Dutton-Lainson Company; Vestil Manufacturing; HYDRO Systems KG; Autolift Gmbh; Jiaxing Datong Machinery Co. Ltd. |
| Customization & Pricing | Available on Request |
The global portable wheel jack market outshines the value of USD 28.12 billion in 2023.
The portable wheel jack market is set for robust expansion, with a projected 8.7% CAGR through 2033, reaching around USD 30.53 billion.
Given its robust manufacturing capabilities and automotive industry growth, China has emerged as a significant portable wheel jack market player.
The hydraulic jacks segment is anticipated to lead the market, contributing to more than 50% of total sales by 2033.
In 2022, the portable wheel jack market reached USD 28.12 billion, demonstrating a 7.4% CAGR.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Hydraulic 5.2. Pneumatic 5.3. Electric 5.4. Manually 6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By End Use 6.1. Automotive 6.2. Marine 6.3. Aerospace 6.4. Railways 6.5. Construction and Mining 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Horizon Global Corp. 17.2. Curt Manufacturing LLC 17.3. Lippert Components, Inc. 17.4. Gray Manufacturing Company Inc. 17.5. Osaka Jack Co. Ltd. 17.6. Tronair Inc. 17.7. Kubanzheldormash Co. 17.8. Dutton-Lainson Company 17.9. Vestil Manufacturing 17.10. HYDRO Systems KG 17.11. Autolift Gmbh 17.12. Jiaxing Datong Machinery Co., Ltd. 18. Assumptions & Acronyms Used 19. Research Methodology
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Portable Wheel Jack Market
