In 2022, the global portable wheel jack market was valued at USD 28.12 billion, with estimates placing its value at USD 30.53 billion in 2023. According to Future Market Insights, the market is projected to grow at a compound annual growth rate (CAGR) of 8.7% from 2023 to 2033, reaching approximately USD 70.33 billion by the end of the forecast period.
The increasing use of hydraulic floor jacks, especially portable wheel jacks for lifting heavy vehicles in repair and maintenance work at service centers, is a major factor driving market growth. These jacks are cost-effective, capable of lifting multi-ton loads, and easy to operate, making them a preferred choice.
Additionally, growth in the aerospace and railway sectors is expected to create significant demand for portable wheel jacks. Meanwhile, intense competition among hydraulic jack manufacturers is pushing companies to produce high-quality products at competitive prices.
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Key Takeaways from the Market 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 Market 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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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