The global portable wheel jack industry in 2022 was USD 28.12 billion and is estimated to be USD 30.53 billion in 2023. Future Market Insights has mentioned in its reports that the portable wheel jack market will expand at a CAGR of 8.7% between 2023 and 2033, totaling around USD 70.33 billion by 2033.
The growth in the adoption of hydraulic floor jacks, mainly portable wheel jack lifts heavy vehicles for repair and maintenance across vehicle service centers, because of their cost-effectiveness, that has the ability to lift multi-toned weights, and is easily useable, thus anticipated to drive the growth rate of the market.
Surge and rise in the airplane and railway industry automatically create great potential consumers mainly based on portable wheel jacks. Harsh and intense competition between the hydraulic jack manufacturers forces the manufacturing companies to manufacture good quality products at the lowest price possible.
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Key Takeaways from the Industry Study
- Global portable wheel jack market grew at a CAGR of 7.4% between 2017 and 2022
- North America’s portable wheel jack market is expected to hold 29.2% of the total market.
- United States considerably holds a value share of 18.4%.
- Europe is expected to emerge as a lucrative pocket over the assessment period with a market share of 26%.
- Germany holds a market share of 22% of the market in Western Europe
- Under product type, growing demand for hydraulic floor jacks in the automotive repair sector to bolster sales with a market share of 50%.
“Increasing Investment in the construction of infrastructure is one of the major drivers that help to grow the portable wheel jack market”, – comments a Future Market Insights analyst.
Competition Landscape
Leading players operating in the global portable wheel jack market are focusing on launching novel products to expand their product portfolio and strengthen their market footprint. Some of the other players are aiming at expanding their global presence to increase their market share. For instance,
- In January 2023, Curt Manufacturing LLC offers a complete line of towing products and is considered to be the leading manufacturer of USA-made custom-fit trailer hitches that offer the broadest selection of custom-fit receiver hitches for nearly every vehicle on the road.
- In December 2022, Lippert Technical Institute displays area showcasing opportunities offered by its state-of-the-art training facility where dealers will be able to sign up for future training opportunities with on-site Lippert training staff.
Top Key Players
- Horizon Global Corp.
- Curt Manufacturing LLC
- Lippert Components, Inc.
- Gray Manufacturing Company Inc.
- Osaka Jack Co. Ltd.
- Tronair Inc.
- Kubanzheldormash Co.
- Dutton-Lainson Company
- Vestil Manufacturing
- HYDRO Systems KG
- Autolift Gmbh
- Jiaxing Datong Machinery Co., Ltd.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global portable wheel jack market providing historical data for 2017 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the portable wheel jack market is segmented based on product type (hydraulic portable wheel jacks- pneumatic portable wheel jacks, electric portable wheel jacks, manually operated portable wheel jacks), and end use (automotive, marine, aerospace, railways, construction and mining) across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa).
About the Automotive Division at Future Industry Insights
The automotive team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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