The report presents a comprehensive research of the global automotive two-post lift market by vehicle type that includes passenger cars and commercial vehicles. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
Market driver: growing four-wheeler market
The global four-wheeler industry has two segments, including passenger cars and commercial vehicles. Both these segments operate under contrast market dynamics with different customer behavior and value chain. The passenger cars segment is observing steady growth due to the growing preference for personal vehicle by families and individuals across the world. The commercial vehicle segment is witnessing steady growth rate because of the higher load carrying capacity and comfort of these vehicles.
According to a senior analyst at Technavio for automotive services research, “The rising disposable income and increase in the younger population in emerging markets such as India and China are propelling the demand for passenger cars. Consequently, the number of vehicles on the road has increased in these regions. This is driving the demand for repair and maintenance services. Thus, the demand for automotive two-post lifts is expected to increase during the forecast period.”
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Market trend: increasing average age of vehicle drives automotive repair and maintenance service industry
The global automotive two-post lift market is dependent on the performance of automotive repair and maintenance services market that is correlated to the vehicle population on the road. The increasing number of vehicles on the road across the globe is creating more demand for repair and maintenance services that has led to increased demand for two-post lifts. The increase in the number of vehicles on the road can be attributed to the increasing average age of the vehicles.
Market challenge: increasing repair and maintenance cost
Higher repair and maintenance cost is a major challenge faced by the global automotive two-post lift market. The average age of the vehicle is growing because of the high quality of the modern vehicles. This is increasing the average cost of repairing modern vehicles compared with older vehicles. Thus, this increasing repair cost nullifies the cost-benefit of the customers. The increase in the repair cost is usually attributed to the increasing labor rates, the complexity of the vehicles, and the increased price of parts such as steel and aluminum.
Is your business on track for a successful future? Learn how Technavio can help
Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions.
Personalize this report according to your needs: Request a customization
Technavio’s analysts and industry experts will work directly with you to understand your requirements. Technavio offers USD 1,000 worth of FREE customization at the time of purchase.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.