According to assessment, the Hi Lift Jack market is projected to witness growth over 4% to 6% CAGR during the assessment period of 2021 to 2031.
Demand for lift jacks will witness moderate growth in short-term, with optimistic growth outlook in the long-run.
Significant demand from various end use applications will create significant opportunities in near future, however, sales of lift jacks from individuals, service centers, and others will provide momentum.
What is Driving Demand for Hi Lift Jack
Growing demand in Automotive and Aviation sectors will continue to drive demand for lift jacks.
The repair and maintenance activities involved for an automobile unit or an aircraft incorporates hi-lift jack for inspection of base chassis
The initial scope of use was relegated to service agencies which has gradually transcended towards individual DIY purposes in order to assist in repair of vehicle under any untimely breakdown or tire punctures.
Portable lift-jacks has been instrumental in gaining popularity amongst the individual end users.
Increasing on-road and off-road fleet of vehicles and their subsequent frequency of service and overhauling of consumables in vehicle service centers is primarily expected to drive the growth of hi-lift jack market.
With the vehicle servicing market proving to be lucrative for vehicle authorized service centers as well as independent garages, a healthy rate of hi-lift jack tool is expected to be procured by the interested stakeholders.
Hi lift jack machines are extensively available for customers across various platforms. Manufacturers are offering their tools and equipment’s through online and offline sales.
It enables users to choose their own choice with desired size, brand, price range and others.
Individual / Do It Yourself (DIY) is Likely to Augment Hi Lift Jack Sales
Another significant factor which has further boosted the market growth is via DIY (Do-it-Yourself) segment, wherein individual owners of vehicles are purchasing the product as an important spare for any emergency or vehicle repairing at remote locations.
Individual / Do It Yourself (DIY) tools sales around the globe have been impacted by COVID-19, due to induced slowdown in production and disruption of supply chain has significant influence in global markets.
This has also had a ripple effect on tools manufacturing industry sales. As the Hi Lift Jack manufacturers are likely to witness sustained opportunities in the future from customers across the world.
Lift jacks are used extensively to lift vehicle, clamp together broken parts, spread bent cage tubes, and others. Although lockdown and shelter-at-home guidelines have meant restricted production activities, sales are likely to improve over the course of the assessment period.
China Hi Lift Jack Market Outlook
China is one of the prominent markets for tools manufacturing globally. The China Hi Lift Jacks market is set to tread on the historic pattern of bust and boom during the assessment period 2021-2031
Demand is likely to grow in the next couple of years, as a number of end-use applications make gradual recovery.
Demand for lift jacks in China will account for high demand from the automotive and off-road vehicle tool manufactures, as demand for lift jacks will continues to grow over the forecast period.
Chain’s tool equipment exports is likely to surge drastically over a period and beyond, and this will continue to benefit OEM companies.
North America Demand Outlook for Hi Lift Jack
U.S. and Canada have been impacted by the COVID-19 crisis, which has led to a decline in economic activities. North America hold significant share in the tool equipment exports, which in turn continues to drive demand for hi lift jacks.
Despite the COVID-19 challenges, most North America countries have maintained a steady growth in production, sales and exports in 2020.
US is the major prominent players in the region, creating opportunities for lift jacks to cater the demand from end use industry applications.
Who are the Key Manufacturers and Suppliers of Hi Lift Jack
Some of the leading manufacturers and suppliers of Hi Lift Jack include
- Hi-Lift Jack Company
- ARB 4x4 Accessories
- Enerpac Tool Group
- Maxpull Machinery & Engineering Co., Ltd.
- Wilco Offroad
- Zhejiang TS Winch Tools Manufacturing Co., Ltd and others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Hi Lift Jack Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
- 36 inches long
- 42 inches long
- 48 inches long
- 60 inches long
By End Use:
By Distribution Channel:
- Online Sales
- Offline Sales
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- South Asia Pacific
- Australia and New Zealand (ANZ)
- Rest of South Asia and Pacific
- East Asia
- South Korea
- Middle East and Africa
- GCC Countries
- North Africa
- South Africa
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