Screw Jacks Market

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Companies
Industry Size (2022)
USD 240.2 Mn
Forecast (2032)
USD 378.4 Mn
CAGR (2022 to 2032)
4.7%

Screw Jacks Market Outlook (2022-2032)

[289 Pages Report] The global screw jacks market is expected to grow at a year-on-year growth of 4.7% in 2022, reaching a value of US$ 240.2 Mn by the end of 2022. The growing importance of repair and maintenance in the industrial sector is facilitating the growth in the market. Focus on new product development among industry players and researchers is driving market expansion.

Screw Jacks Market
Screw Jacks Market
Global Screw Jacks Market Analysis (2021A) USD 231.1 Million
Estimated Year Value (2022E) USD 240.2 Million
Projected Year Value (2032F) USD 378.4 Million
Value CAGR (2022-2032) 4.7%
Collective Value Share: Top 3 Countries (2022E) 34.2%

As per Future Market Insights (FMI), China is expected to spearhead the growth in global screw jacks market. Growth is underpinned by expansion of automotive and aerospace sectors. Besides this, rising economies such as Brazil and India are expected to witness positive growth outlook over the upcoming decade.

As per FMI, the screw jacks market is expected to account for over 5.8% in the global industrial and automotive jacks market.

Global Screw Jacks Market Outlook 2017-2021 Compared to 2022-2032 Forecast

As per the study, the global screw jacks market grew at a CAGR of about 2.0% between 2017 and 2021. Material handling equipment sales are expanding substantially as production capacity expands.

Demand for loading and unloading equipment such as ergonomics lifts and their components is expected to surge. This is due to the advancements in several industrial facilities and growing demand for material handling equipment.

On the back of these aforementioned factors, the global screw jacks market is poised to expand at a 4.7% CAGR between 2022 and 2032, according to Future Market Insights.

Screw Jack Market
Screw Jack Market

What are the Key Trends Boosting the Screw Jacks Market?

  • Expansion of Automotive Industry to Provide Impetus to Screw Jacks Demand

Expansion of automotive industry coupled with increasing sales of vehicles across the globe is expected to boost screw jack sales. Automobile manufacturing in China and Germany is burgeoning at a rapid pace. Consequently, demand for lifting jack as a car equipment is expected to surge.

With growing demand for automotive cars, the screw jack sales are expected to spur as simple repairs and maintenance require lifting jacks. As the number of vehicles on the road increases, the need for automotive maintenance and repair services is predicted to rise. Screw jacks are used to elevate vehicles in order to do basic repairs and maintenance duties.

Growth in the public transportation sector, particularly in the railway and airline sectors, is also augmenting the demand. Jacks are extensively used in the repair and maintenance of rail-guided vehicles and aeroplanes. Hence, rapid development in railway and aviation transportation industries is expected to create conducive environment for screw jacks’ manufacturers.

Further, development of railway network in nations such as India and China is also expected to provide significant boost to railway screw jacks demand, since these jacks are effective during locomotive and bogy maintenance and repair operations.

  • Advent of Smart Automation in Industrial Sector to Push Screw Jacks Sales

Screw jacks are commonly used for loading and unloading in civil construction, infrastructure development, and industrial equipment handling. The market for screw jacks is expected to expand with increasing infrastructure investment, such as roads, bridges, and railroads, and with expansion of construction sector.

Screw jacks, sometimes known as house jacks, are used in the construction industry to lift buildings from their foundations for repair or relocation. Several governmental entities are improving their support by investing extensively to develop economies. This is expected to propel the demand for screw jacks, especially in Asia and Middle East & Africa.

Screw jack manufacturers are also prone to developing modular designs that allow goods to be readily assembled from common components cost effectively and with completely customised devices. Hence, growing development of industrial production will spur the screw jacks’ sales throughout the forecast period.

Increased use of process automation systems across a variety of industries, including automotive, chemical, and energy utilities, is predicted to fuel development in industrial automation industry. Company labour and operational costs are reduced when business procedures are automated.

It also provides advantages such as efficiency and dependability to reduce human errors. Another factor contributing to the manufacturing of screw jacks is the rapid transformation of industries toward smart manufacturing.

To ensure dependable, secure, and consistent operations, key companies are deploying automation systems to employ tried-and-true standards and technologies. Screw jacks with high accuracy and greater speeds are required by smart industries for enhanced productivity. This will improve the demand in the global screw jacks market over the forthcoming decade.

Country-wise Insights

What Makes the U.S. Most Prominent Screw Jacks Market in North America?

Development in the Construction Sector to Create Lucrative Prospects for Screw Jacks Manufacturers

As per the report, the U.S. screw jacks market is predicted to expand at 4.1% CAGR through 2022 & beyond. Growth in the market is primarily contributed to the development of new and innovative products in automotive and construction sector.

According to the study, sales of screw jacks in the U.S. are expected to reach US$ 54.1 Mn by the end of 2032.

Why is Demand for Screw Jacks Increasing in India?

Increasing Use of Screw Jacks in Repairing Automotive Parts to Boost Demand

Future Market Insights (FMI) opines, India screw jacks market is estimated to grow at a CAGR of 6.6% between 2022 and 2032. This is due to the increasing demand from garages and personnel for the repair of automotive and other industrial parts.

India is considered to be one of the fastest-growing countries. Rapid development in the automotive industry is one of the key factors pushing the sales in screw jacks market. Backed by these factors, demand for screw jacks will surpass revenues worth US$ 27.7 Mn by the end of 2032.

Category-wise Insights

Why is the Most Preferred Product Type in Screw Jack Market?

Sales of Bevel Gear to Outpace the Demand for Worm Gear in Screw Jacks Market

Based on product type, the worm gear segment is estimated to account for more than 60% of demand share in the screw jack market. Also, ball screw jack is expected to grow at the highest rate in terms of value as compared to other product type.

However, the bevel gear segment is projected to create an absolute dollar opportunity of more than US$ 21.8 Mn between 2022 and 2032.

Which is the Chief Application in Global Screw Jacks Market?

General Industry and Material Handling, Collectively, to Account for 3/5th of Screw Jacks Demand

Based on application, general industry and material handling industry are estimated to account for more than 60% of the overall market share. Whereas, automotive and material handling industry are expected to grow at healthy growth rate over the forecast period The general industry and material handling industry is expected to generate an absolute dollar potential of more than US$ 94.9 Mn between 2022 and 2032.

Competitive Landscape

Acquisition and expansion activities have increased in recent years to enhance the screw jacks supply chain, estimates FMI. Several leading screw jacks’ producers are also researching and developing new technologies.

ZIMM and Columbus McKinnon to be the Top Screw Jack Hustlers

Advent of automation in industrial sector has been a game changer for several industries, including automotive, material handling, construction etc. ZIMM and Columbus McKinnor are predicted to be on top of their game when it comes to screw jacks.

ZIMM continues to revolutionize the classic screw jacks design by integrating several advanced features. For instance, in 2020, DieQua announced the launch of its new ZE series from ZIMM Screw JackSystems to push ZIMM’s already state-of-the-art screw jacks to an ultimate level.

The new advanced features of this launch entails increased gearbox lubrication capacity for superior duty cycles. It also reduced backlash from advanced worm gear design and its machining techniques. These advanced ZIMM screw jack systems centralize on electrical and advanced electromechanical drive system to take on the heavy sizes.

However, Columbus McKinnon is likely to outpace ZIMMs’ popularity, retaining dominance, with its upgraded and advanced machineries and systems. Spanning across several domains such as automotive, construction, aerospace, and others, Columbus McKinnon is spreading its wings, especially for screw jacks, in almost every industry.

The U.S.-based leading company in industrial automation, on March 8th 2022, unveiled its first electric chain hoist with wireless programming and remote monitoring. Columbus McKinnon took the first step towards automation in November 2021. The company is upping their game with a plethora of screw jacks’ variety in its product portfolio.

The company has introduced multiple brands, including Camlok, Dixie Industries, Pfaff-silberblau, and Yale among others to expand its reach in a wide range of industries. With new advancements in the industrial automation, these leading players are striving to be on top by introducing new products and acquiring new brands.

Some of the other leading players such as Power Jacks, are expanding their production and manufacturing facilities across lucrative regions. Recently, the company announced its relocation to build its new facilities in Westhill, Aberdeenshire and also subsidiary operations in China, Germany, and India to expand its reach.

Scope of Report

Attribute

Details

Estimated Year Value (2022E)

US$ 240.2 Mn

Projected Year Value (2032F)

US$ 378.4 Mn

Value CAGR (2022-2032)

4.7%

Forecast Period

2022-2032

Historical Data Available for

2017-2021

Market Analysis

US$ Million for Value and Units for Volume

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia Pacific, and The Middle East and Africa

Key Countries Covered

US, Canada, Mexico, Brazil, Germany, Italy, France, U.K., Spain, Russia, Turkey, South Africa, GCC Countries, Northern Africa, Japan, China, South Korea, India, ASEAN, Australia, and New Zealand.

Key Segments Covered

Product, Lubrication, Load Capacity, Application, and Region

Key Companies Profiled

  • Columbus McKinnon
  • Haacon Hebetechnik GmbH
  • ZIMM
  • Unimec SPA
  • ANDANTEX Ltd.
  • Joyce Dayton
  • Thomson Industries Inc.
  • Power Jacks Ltd.
  • INKOMA Group
  • Nippon Gear
  • JM Engineering Works
  • Lim-Tec Beijing Transmission Equipment Co. Ltd.
  • SIJIE Industrial Co. Ltd.
  • Chiaravalli Group Spa
  • Masko Tech Engineers
  • ACKLETECH Enterprises
  • Gears and Gears drives (India) Pvt. Ltd.
  • MAKISHINKO Co.Ltd.
  • Osaka Jack Co.Ltd.
  • Nuodun Group
  • INKOMA/ALBERT
  • Wanxin
  • Weingrill Ing
  • Kelston Actuation
  • WMH Herion Antreiebstechnik
  • TSUBAKIMOTO
  • Rosen

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Global Screw Jacks Market by Category

By Product Type, the Global Screw Jacks Market is segmented as:

  • Worm Gear
  • Ball Screw
  • Bevel Gear

By Lubrication Type, the Global Screw Jacks Market is segmented as:

  • Grease Lubrication
  • Oil Lubrication

By Load Capacity, the Global Screw Jacks Market is segmented as:

  • Up to 100kN
  • 101 – 1000kN
  • Above 1001kN

By Application, the Global Screw Jacks Market is segmented as:

  • General Industry
  • Material Handling Industry
  • Aerospace and Aircraft
  • Automotive
  • Others

By Region, the Global Screw Jacks Market is segmented as:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • The Middle East and Africa

Frequently Asked Questions

What is the current size of the global screw jacks market?

The global screw jacks market is expected to total US$ 240.2 Mn in 2022.

At what CAGR, did the demand for screw jacks rise during the forecast period?

The demand for screw jacks is predicted to surge at a CAGR of 4.7% during the forecast period from 2022 to 2032.

Who are the top players in the global screw jacks market and what is their total share?

Columbus McKinnon, Chiaravalli Group Spa, Nippon Gear, MAKISHINKO Co.Ltd., ZIMM, SIJIE Industrial Co. Ltd. and others are the leading market players. They collectively account for 45% to 50% of the global market share.

What is the market outlook for screw jacks in Germany?

The demand in Germany is expected to increase at 3.7 % CAGR from 2022 to 2032.

Which end-use is most likely to be a highly profitable segment for market players?

Implementation of screw jacks in the general industrial application will witness growth at 4.1% CAGR during 2022-2032.

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Future Market Insights

Screw Jacks Market