Automotive Jacks Market Growth Trends: [USD 13.50 Billion] by 2028 with a [6.07% CAGR]

According to TechSci Research’s report, “Global Automotive Jacks Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028,” the global automotive jacks market stood at USD 13.50 billion in 2022. It is anticipated to grow at a compound annual growth rate (CAGR) of 6.07% during the forecast period, 2024-2028.

This consistent growth is largely attributed to the rapid expansion of the automotive industry and the increasing demand for vehicle maintenance and repair services worldwide.

Automotive jacks are vital tools for safely lifting vehicles during these operations, making them indispensable for both professional mechanics and DIY enthusiasts.

Key Automotive Jacks Market Drivers

• Growth of the Global Automotive Industry

The global automotive industry’s expansion is a primary driver of the automotive jacks market. Factors such as population growth, urbanization, and rising disposable income have led to increased vehicle production and sales. As the number of vehicles on the road rises, so does the demand for tools and equipment to maintain and repair these vehicles, creating a strong market for automotive jacks.

• Rise of DIY Vehicle Maintenance

The DIY trend in vehicle maintenance is another significant driver. Consumers are increasingly aware of the importance of regular vehicle upkeep for safety and longevity. Online tutorials and resources have empowered vehicle owners to perform minor repairs at home, further fueling the demand for user-friendly and reliable automotive jacks.

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• Advancements in Technology

Technological innovations are transforming the automotive jacks market. Manufacturers are incorporating features such as hydraulic systems, ergonomic handles, quick-release mechanisms, and smart technologies. These advancements improve performance, reliability, and user convenience, driving the adoption of modern automotive jacks.

Trends Shaping the Market

Focus on Safety and Ergonomics

Safety is a critical concern in automotive maintenance. To address this, manufacturers are integrating features like reinforced frames, safety locks, and precision engineering into their products. These advancements enhance user safety and reliability, catering to both professionals and DIY enthusiasts.

Lightweight and Portable Designs

Traditional automotive jacks were heavy due to metal construction. However, advancements in materials and engineering have enabled the production of lightweight yet durable jacks using aluminum and composite alloys. These designs offer better portability and ease of use, appealing to a wide range of consumers.

Specialized Jacks for Electric and Hybrid Vehicles

The rising adoption of electric and hybrid vehicles has created a demand for specialized jacks. These vehicles often have unique undercarriage designs, varying weight distributions, and specific lifting requirements. Manufacturers are responding with low-profile designs, rubberized lifting pads, and higher weight capacities to accommodate these needs.

Environmental Sustainability

The automotive industry’s emphasis on eco-friendly practices extends to automotive jack manufacturing. Companies are adopting sustainable materials, processes, and packaging to reduce environmental impact. While these efforts may increase production costs, they align with consumer preferences for environmentally responsible products.

Shift to Online Retail

The rise of e-commerce is reshaping the distribution landscape of automotive jacks. Online platforms offer convenience, extensive product information, and competitive pricing, making it easier for consumers to access a wide range of products. This trend expands the market reach and caters to regions with a limited physical retail presence.

Challenges in the Automotive Jacks Market

• Intense Market Competition: The automotive jacks market is highly competitive, with numerous manufacturers striving for market share. This competition pressures companies to differentiate their products and offer unique value propositions, often through innovation and superior quality.
• Proliferation of Low-Quality Products: The market is facing an influx of inexpensive, low-quality automotive jacks, which pose safety risks and can harm consumer trust. To combat this, manufacturers are emphasizing stringent quality control measures and testing protocols to ensure product reliability.

Recent Developments

Global Expansion by Manufacturers

SuhRyung Machinery, a South Korea-based manufacturer of hydraulic jacks, announced its expansion into ASEAN countries. This move aims to increase its customer base and market share, showcasing the global growth potential in the automotive jacks industry.

Industry Mergers and Acquisitions

In January 2023, Horizon Global Corp, a producer of towing and trailering equipment, entered into a definitive merger agreement with First Brands Group LLC. Such developments highlight the industry’s dynamic nature and the strategies employed by companies to strengthen their market positions.

Key Automotive Jacks Market Players

The global automotive jacks market includes several prominent companies, such as:

• Affjaxx

• ARGO Manufacturing Co.

• ESCO Equipment Supply Company

• Jands Jacks, LLC

• Milwaukee Hydraulics

• Norco Lifting Equipment

• Shinn Fu Company of America, Inc.

• Simplex

• US Jack

• Weaver Jacks Corporation

These companies are focusing on innovation, quality, and customer satisfaction to maintain their competitive edge.

Future Outlook of Automotive Jacks Market 

• Increasing Vehicle Parc

The rising number of vehicles on the road is a significant driver of the automotive jacks market. With more vehicles requiring maintenance, the demand for reliable jacking solutions will continue to grow.

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• Technological Advancements

Ongoing advancements in technology will further enhance the functionality and convenience of automotive jacks. Features such as automation, smart sensors, and connectivity are expected to become more prevalent, aligning with broader trends in the automotive industry.

• Growth in Emerging Markets

Emerging markets present significant growth opportunities for the automotive jacks industry. Factors such as economic development, urbanization, and rising vehicle ownership in regions like Asia-Pacific, Latin America, and Africa are expected to drive demand.

• Focus on Sustainability

The emphasis on environmental sustainability will continue to influence product design and manufacturing processes. Companies that prioritize eco-friendly practices will likely gain a competitive advantage in the market.

Conclusion

The global automotive jacks market is a dynamic and essential segment of the automotive tools and equipment industry. Driven by the growth of the automotive sector, technological advancements, and changing consumer preferences, the market is poised for sustained growth. The rise of DIY vehicle maintenance, the integration of smart technologies, the demand for lightweight and portable designs, and the need for specialized jacks for electric and hybrid vehicles are shaping the industry’s trajectory.

Despite challenges such as intense competition and low-quality products, the market’s future remains bright. Manufacturers and stakeholders must adapt to these trends to stay competitive and meet the evolving needs of consumers worldwide.

With a focus on safety, convenience, and sustainability, automotive jacks play a vital role in enhancing vehicle maintenance practices globally. As the industry continues to evolve, the global automotive jacks market will remain a key enabler of efficient and safe vehicle repair and maintenance operations.

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