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Portable Wheel Jack Market

Portable Wheel Jack Market

Portable Wheel Jack Market

Portable Wheel Jack Market by Product Type (Hydraulic, Pneumatic, Electric, Manually), End Use & Region - Forecast 2022-2029

Portable Wheel Jack Market Outlook -2022-2029

[220 Pages Report] The global portable wheel jack market is estimated to top US$ 5.4 Bn by the end of 2022. 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.

Attribute

Details

Portable Wheel Jack Market Estimated Size in 2022

US$ 5,446.3 Mn

Portable Wheel Jack Projected Size in 2029

US$ 6,843 Mn

Portable Wheel Jack Market Historical CAGR (2014-2021)

2.5%

Portable Wheel Jack Market Value-based CAGR (2022-2029)

3.3%

Future Market Insights (FMI), states that the sales in the global portable wheel jack market are anticipated to surpass US$ 6.8 Bn by 2029, expanding at 3.3% CAGR over the forecast period 2022-2029.

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 2029.

2014-2021 Portable Wheel Jack Market Outlook In Comparison To 2022-2029 Growth Forecast

The global portable wheel jack market totaled US$ 5.2 Bn in 2021, exhibiting growth at a CAGR of 2.5% between 2014 and 2021, states FMI. Increasing railway and airplane fleet and rapidly expanding aerospace industry in the U.S., China, the U.K., and India are favoring the growth in the market.

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. This is estimated to assist the global portable wheel jack market to expand at 3.3% CAGR during the forecast period from 2022 to 2029.

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 the sales in the market. 

How Will Growing Construction Activities Facilitate Portable Wheel Jack Demand?

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 US$ 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.

In addition to this, surging demand for high tonnage mining jacks from rapidly expanding mining sector across countries such as China, India, Australia, and the U.S., is estimated to bode well for the portables wheels sales.

Country-Wise Analysis

Why is the U.S. Considered as a Highly Lucrative Portable Wheel Jack Market?

“Burgeoning Demand for Passenger Cars to Favor Scissor Jack Sales in the U.S.”

As per FMI, the U.S. is anticipated to dominate the market in North America, assisting the region to account for 18.4% of the overall sales in 2022.

Increasing sales of automotive vehicles in the U.S. 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 U.S. in 2019.

As scissor jacks are provided in all automotive vehicles by automakers for emergence use, growing demand for passenger cars is estimated to accelerate the sales of portable wheel jacks labs in the market.

Also, increasing use of portable wheel jacks in automotive repair & maintenance and air transport maintenance, repair, overhaul (MRO) application is facilitating the growth in the U.S.

Why is the Sales of Portable Wheel Jacks Augmenting in Germany?

“Surging Applications in Ship Building Sector Propelling Swivel Jacks Demand in Germany,”

Swivel hydraulic jacks are gaining immense popularity across the ship manufacturing and repair sector. They are increasingly being used for the alignment of heavy ship parts, lifting wooden slabs, and supporting others ship-building equipment during the production, repair, and maintenance of ships. This is estimated to accelerate the sales of hydraulic jacks in the country.

In addition to this, 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 the 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.

What are the Factor Facilitating the Portable Wheel Jacks Market Growth in India?

 “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 in the South Asia market between 2022 and 2029.

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.

This 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.

Category-Wise Insights

Why are Hydraulic Portable Wheel Jacks Most Sought-after in the Market?

“Growing Demand for Hydraulic Floor Jack in Automotive Repair Sector to Bolster Sales”

In terms of product type, the global portable wheel jack market is segmented into hydraulic jacks, pneumatic jacks, electric jacks, and manual jacks. As per FMI, the hydraulic jacks segment is projected to dominate the market, accounting for more than 50% of total sales over the assessment period.

Increasing adoption of hydraulic floor jacks for lift heavy cars for the maintenance and repair across car service centers, owing to its ease of use, cost-effectiveness, ability to lift multi-toned weights is propelling the demand in the segment.

Why is the Sales of Portable Wheel Jacks Increasing within the Luxury Vehicle Segment?

“Increasing use of Scaffolding Jacks in Construction Activities to Uplift Portable Wheel Jacks Sales”

As per Future Market Insights, the construction & mining segment is anticipated to account for a significant share in the global market between 2022 and 2029.

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 U.S., 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 2029. Growing application of axle aircraft jacks for lifting the main landing gear during aircraft maintenance involving brake service repair and tire repair & replacement is favoring the growth in the segment.

Competitive Landscape

Leading players operating in the global portable wheel jack market are focusing on launching novel products to expand their product portfolio and strengthen their market footprint. Some of the other players are aiming at expanding their global presence to increase their market share. For instance,

In January 2020, SuhRyung Machiner, a South Korea-based manufacturer of hydraulic jacks announced expanding its global presence by launch its brand in ASEAN countries. This has assisted the company to increase its customer base and market share.

Scope Of The Report

Attribute

Details

Forecast Period

2022-2029

Historical Data Available for

2014-2021

Market Analysis

US$ Mn for Value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East & Africa

Key Countries Covered

US, Canada, Germany, U.K., France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, South Africa

Key Segments Covered

Product Type, End Use, and Regions

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.

Report Coverage

Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives

Customization & Pricing

Available upon Request

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Portable Wheel Jack Market By Category

By Product Type :

  • Hydraulic Portable Wheel Jacks
  • Pneumatic Portable Wheel Jacks
  • Electric Portable Wheel Jacks
  • Manually Operated Portable Wheel Jacks

By End Use :

  • Automotive
    • Floor Jacks/Service Jacks
    • Bottle Jacks
    • Scissor Jacks
    • Hi Lift Jacks
    • Trailer Jacks
  • Marine
    • Swivel Jacks with Wheels
    • Round Jacks (Swivel) with Foots & Others
  • Aerospace
    • Axle Jacks
    • Tripod Jacks
  • Railways
    • Heavy locomotives Jacks
    • Railcar Jacks
    • Transit Jacks
  • Construction and Mining
    • High tonnage mining Jacks
    • Scaffolding Jacks
    • Hydraulic Jacks
    • Mechanical Jacks

By Region :

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

Key Questions Answered in the Report

What is the current portable wheel jack market value?

The portable wheel jack market is expected to surpass a valuation of US$ 5.2 Bn in 2021
The global portable wheel jack market grew at a 2.5% CAGR over the past assessment period 2014-2021.
The portable wheel jack market is expected to register steady growth, expanding a 3.3% CAGR between 2022 and 2029.
Europe currently leads the global portable wheel jack market, holding more than 22% of the total market share.
East Asia portable wheel jack market will hold a significant share accounting for nearly 17.9% of the revenue share in 2022.
In terms of application, the portable wheel jack segment is expected to account for over 50% of global sales.

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