LONDON--(BUSINESS WIRE)--The automotive air lift jack market is expected to post a CAGR of close to 26% during the period 2019-2023, according to the latest market research report by Technavio. However, the growth momentum will decelerate in the coming years because of the decrease in the year-over-year growth. Request a free sample report
The growing demand for air bottle jacks to lift commercial vehicles is one of the major reasons for the growth of the market. Air bottle jacks are increasingly being adopted because they are a cost-effective yet convenient option for lifting heavy vehicles. Air bottle jacks enable hands-free operation as they use pressurized air to power the unit. This makes them the most suitable option among other lift jacks for lifting commercial vehicles. Thus, vendors are offering a range of air bottle jacks to cater to the demand of commercial vehicle operators.
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As per Technavio, the growing demand for portable air lift jacks will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Automotive Air Lift Jack Market: Growing Demand for Portable Air Lift Jacks
The demand for portable and durable automotive air lift jacks is increasing among consumers as they are easy to maneuver and operate. The portable air lift jacks are fitted with pneumatic wheels that make maneuverability easy for the users. Furthermore, they feature fast and easy operation control from the handle, which enables automotive technicians to use portable air lift jacks for lifting various vehicles. Thus, the demand for portable air lift jacks is expected to increase, which will drive the growth of the market during the forecast period.
“Apart from the growing demand for portable air lift jacks, other factors such as the development of aluminum air lift jacks, and the growing online purchase of automotive air lift jacks will have a significant impact on the growth of the market during the forecast period,” says a senior analyst at Technavio.
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Automotive Air Lift Jack Market: Segmentation Analysis
This market research report segments the global automotive air lift jack market by end-user (individual customers and professional customers) and by region (North America, Europe, APAC, South America, and MEA).
The APAC region led the market in 2018, followed by Europe, North America, South America and MEA respectively. The growth of the automotive air lift jack market in APAC can be attributed to factors such as the growth of the passenger cars segment and the consequent need for vehicle repair and maintenance services.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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