Press release
Automotive Lifts Market: Garages to Represent Most Profitable End-Use Applications || Key Players: BendPak, Inc., Challenger Lifts, Inc., Nussbaum Automotive Solutions LP, Rotary Lift, Stertil-Koni USA, Inc., SUGIYASU Co.Ltd, ARI-HETRA, Ravaglioli
enhances the assessment of this report for manufacturers seeking to understand the depths of the market.
Fact.MR’s recent forecast study projects a steady growth in demand for automotive lifts in the foreseeable future. The global automotive lifts market has been estimated to touch a US$ 9.9 billion valuation by the end of 2026. The report further assesses that over the forecast period, 2017-2026, the global market for automotive lifts will showcase a CAGR of 4.1% in terms of volume.
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End-use of automotive lifts in garages will witness a steady upswing through 2026
For boosting the safety of working environments, garage owners from several parts of the world are installing automotive lifts. Majority of vehicle repairs are being fixed by working under the car, and automotive lifts serve this purpose more effectively than jacks. Besides offering a safe environment to work in, automotive lifts also ease the operations in a garage. The increased space is an added advantage of installing automotive lifts. Several automotive lift manufacturers are considering the custom requirements of garage owners to offer best solutions towards space optimization.
Increasing costs of spare parts, high replacement rate of these components and feasible labor costs make commercial garages profitable businesses, which in turn drives the usability of advanced of automotive lifts that come at slightly high costs. While catering to the demands of commercial garages will remain highly profitable for automotive lift manufacturers, several companies will also capture the sharp increase in demand across home garages. Low heights of home garages may create certain challenges for existing product lines, but companies are offering redesigned automotive lifts that adjust to such environments.
Demand for automotive lifts to witness a significant growth in North America
In North America, the US reflects a lucrative marketplace for adoption of automotive lifts. Almost every other US household owns a car if not a fleet of vehicles. High household incomes has extended the presence of home garages across the US. Meanwhile, Canada’s strict regulatory stance towards building safe environments in automotive manufacturing and aftermarket repair works has further bolstered the sales of automotive lifts in North America. By the end of 2026, nearly 2,250 thousand units of automotive lifts will be installed across North America. However, the report markedly estimates the Middle East & Africa automotive lifts market to reflect highest volume CAGR over the forecast period. Vehicle customization trends and robust growth in automotive aftermarkets across the Middle Eastern countries will factor the region’s high volume growth for automotive lifts.
By the end of 2026, nearly 2,250 thousand units of automotive lifts will be installed across North America. However, the report markedly estimates the Middle East & Africa automotive lifts market to reflect highest volume CAGR over the forecast period. Vehicle customization trends and robust growth in automotive aftermarkets across the Middle Eastern countries will factor the region’s high volume growth for automotive lifts.
Growing trend of manufacturing lightweight vehicles will keep market players focused upon preliminary lifting capacities
Majority of automotive lift manufacturers will be focusing on offering lifting capacity of 4,000-9,000 lbs. In 2018 and beyond, almost every other car will be developed with a focus on keeping it light in weight, considering their role in boosting fuel efficiency and overall performance of the vehicle.
In the coming years, key stakeholders of the global automotive lifts market namely BendPak, Inc., Challenger Lifts, Inc., Nussbaum Automotive Solutions LP, Rotary Lift, Stertil-Koni USA, Inc., SUGIYASU Co.Ltd, ARI-HETRA, Ravaglioli S.p.A, PEAK Corp and EAE Automotive Equipment Co.Ltd., will continue to extend the production of automotive lifts with preliminary lifting capacities.
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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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