Press release
Automotive Jack Market : device commonly used for lifting, adjusting, and positioning, Trend, and Forecast Research Report by 2027
Automotive jackis a mechanical device commonly used for lifting, adjusting, and positioning of the automotive in various fields. Automotive jacks have a wide range of applications, includingseasonal tire changes, tire rotation, changing a flat tire, repair of vehicles, and maintenance &inspection of damages of vehicles.Therefore, it iswidely used in the automobile industry. In addition, vehicle users require jacks when theyface problems in terms of flat tires due to bad condition of roads,thus supplementingthe automotive jack market.
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COVID-19 scenario analysis:
COVID-19 has rapidly affected the salesin theautomotive industry,thus hampering the growth ofthe automotive jack market.
The market was expected to register significant growth with rapid growth inthe automobile industry. However,due to COVID-19, the market is expected to decline in the near future,owingto the shutdown ofproduction of vehicles.
Sales play a major role in the vehicle sector, but trade restrictions and closed borders created a shortage in required parts and limitedthe distribution of supplies.
Due to no demand in the COVID-19 situation,most of the companies havestopped automotive jack production.
COVIID-19 hampered the growth of all industries by shutting them down.They are expected to regain only after situation becomesstable.
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Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Top impacting factors that drive the growth of the automotive jack market are the rapid growth of theautomotive maintenance market andincrease inuse of heavy vehicles.However, high cost of the product hampers the growth of the market. Furthermore,rise innumber of car repairing garages and increase inrepair &maintenance activitiesprovidelucrative opportunitiesfor the automotive jack market.
Rapid growth of theautomotive maintenance market
The growth of the automotive maintenance markethas escalated the demand for automotive jack. More maintenance garages leads to increase in demand forcar jacks to be used in repairing purposessuch as tire change, rim change, flat tire repairing, etc.Therefore, this increasesthe demand forjack andresultsin the growth of the automotive jack market.
Increase inuse of heavy vehicles
Automotive jacks are required to lift heavy vehicles. Heavy vehicle use has increased with growth in theconstruction and mining industries. These vehicles require high weight tackling jacks to lift them. Additionally, repairing of tires or other parts of heavy vehicles requires jack,therebypropelling the growth of theautomotive jack market in the coming years.
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Key benefits of the report:
This study presents the analytical depiction of the automotive jack market along with current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the automotive jackmarket share.
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