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The automotive two-post lift market size is estimated to grow at a CAGR of 9.08% between 2022 and 2027. The market size is forecast to increase by USD 568.73 million. The growth of the market depends on several factors such as the growing market for four-wheelers, the demand for simplified solutions in the automotive industry, and increased reliability and safety in automotive two-post lifts through standards.
This automotive two-post lift market report extensively covers market segmentation by distribution channel (offline and online), vehicle type (passengers and commercial), and geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the automotive two-post lift market growth is the growing market for four-wheelers. The main two segments of the global four-wheeler industry are the passenger cars segment and the commercial vehicles segment. There is an increasing demand for the passenger car segment due to the factors such as the rising preference for personal vehicles by families and individuals globally. Additionally, there is significant growth for the commercial vehicle segment as well due to high volumes offered by several countries such as US and China.
Furthermore, the main factors which are fuelling the demand for passenger cars in developing countries like India and China include the rising disposable income and the rise in the young population. It has resulted in an increasing number of vehicles on the road in these regions which is significantly fuelling the demand for repair and maintenance services. Hence, such factors are expected to drive the automotive two-post lift market growth during the forecast period.
A key factor shaping the automotive two-post lift market growth is the growing popularity of environment-friendly vehicle lifts. There is a growing environmental concern related to the automotive industry and as a result, several fleet maintenance and repair service shops are addressing new and more stringent environmental requirements by going green, and this is applicable to equipment like lifts too. For instance, the columns of the automotive lift are manufactured from components that are recyclable and durable.
Furthermore, there is a growing awareness regarding the benefits of going green in regions like North America as well as emerging countries like China. Additionally, several manufacturers are shifting towards manufacturing green automotive two-post lifts due to an increasing preference for environment-friendly lifts among consumers. Hence, such factors are expected to drive the automotive two-post lift market growth during the forecast period.
Increasing repair and maintenance costs in automobiles are one of the key challenges hindering the automotive two-post lift market growth. As the average years of usage of modern vehicles are increasing, it is fuelling the average cost of repairing modern vehicles compared with older vehicles. Hence, the increasing repair cost hampers the cost-related benefit. Factors such as increasing labor rates, the complexity of the vehicles, and the increased price of parts such as steel and aluminum are significantly contributing to the rise in repair costs.
Furthermore, the repair cost significantly impacts the automotive two-post lifts market as well. As a result, repair shops are forced to balance the repair service pricing while including all these factors involving repair components and equipment costs, resulting in negotiating with lift manufacturers to lower the price. Hence, such factors are expected to hinder the automotive two-post lift market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Automotive Two-post Lift Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aichi Brand: The company offers automotive two-post lift under the brand Sugiyasu Corp.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The offline segment is estimated to witness significant growth during the forecast period. The offline segment comprises automotive part and component stores, distributors, independent retailers, and specialty retailers. There is an increasing preference for privately-owned vehicles by families and individuals globally which is significantly fuelling the sales of passenger cars. Additionally, commercial segment demand is significantly fueled by the high sales volumes from several prominent countries such as US and China.
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The offline segment was the largest segment and was valued at USD 644.79 million in 2017. One of the main factors which is fuelling the demand for automotive two-post lifts is the growing number of vehicles across the world. There is an increasing preference for offline distribution channels over online channels by automobile garages and vehicle maintenance center owners as it enables them to physically inspect the product before buying, which allows customers to assess its suitability and quality. As a result, the offline distribution channel segment significantly influences the growth of the automotive two-post lift market as the main end-users of automotive two-post lift are automobile manufacturers. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the global automotive two-post lift market growth during the forecast period.
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APAC is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the key countries which are significantly contributing to the growth of the global automotive two-post lift market in APAC are China, India, Japan, and South Korea. APC is known as a significant volume-adopter of passenger cars. Furthermore, the number of passenger cars is higher in the APAC region when compared to other regions such as the EU and the US. As there is a significant presence of price-conscious consumers in several countries in APAC, they tend to keep cars for a longer duration which facilitates proper repair and maintenance services. Hence, there is increasing adoption of automotive two-post lifts in most maintenance shops for faster turnaround time. Furthermore, the increase in investments in infrastructure and industrialization has fuelled the demand for passenger cars and commercial vehicles segment. Hence, such factors are expected to drive market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global automotive two-post lift market witnessed a significant slowdown due to the closure of automobile maintenance and repair facilities as well as a halt in automobile production. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restoration of operations in manufacturing units, resulting in an increase in sales of vehicles as well as a consumer base. Such factors are expected to drive the market during the forecast period.
The automotive two-post lift market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Automotive Two-post Lift Market Scope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.08% |
Market growth 2023-2027 |
USD 568.73 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.1 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 45% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aichi Brand, Amfos International, ARI HETRA, ATS ELGI, BendPak Inc., Challenger Lifts Inc., EAE Automotive Equipment Co. Ltd., Force Auto Solutions, Hunter Engineering Co., LAUNCH Shanghai Machinery Co. Ltd., MAHA Maschinenbau Haldenwang GmbH and Co. KG, MBL Impex Pvt. Ltd., Newtech Equipment, Nussbaum Automotive Solutions LP, PEAK Corp., PRAMUKH equipments, Rotary Lift, Shailendra Enterprises, Shivalik Automotive Garage Equipments, and Stertil Koni USA Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Vehicle Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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