Portable Wheel Jack Market Size - By Power Type (Hydraulic, Hydraulic, Air, Pneumatic), By Application (Automotive, Marine, Construction, Mining, Aerospace, Railway), Industry Analysis Report, Regional Outlook, Growth Prospect & Global Forecast, 2023 – 2032

Portable Wheel Jack Market Size

Portable Wheel Jack Market size was valued at USD 27.3 billion in 2022 and is anticipated to register a CAGR of over 8% between 2023 and 2032. The expanding automotive industry is a key factor fueling the market growth. With the global increase in vehicle production & sale, the need for maintenance & tire-related services has surged. This growing automotive sector directly translates into higher demand for portable wheel jacks as an essential tool for safely lifting vehicles during maintenance & tire replacement procedures. As car ownership rises and new vehicles enter the market, the demand for portable wheel jacks will continue to grow, making them indispensable in the automotive maintenance landscape.
 

Rising vehicle ownership refers to the increasing number of individuals, who own & operate cars, trucks, and other motor vehicles. As this ownership rate climbs, there is a corresponding surge in the demand for automotive maintenance tools including portable wheel jacks. Vehicle owners require these jacks for routine tasks such as tire changes and inspections. This trend underscores the vital role portable wheel jacks play in accommodating the growing needs of vehicle owners, both for DIY maintenance and professional servicing, thereby driving market growth.
 

The portable wheel jacks market may reach saturation when a significant portion of vehicle owners already possess one. In such a scenario, the market faces limited growth potential as most potential customers already have this essential tool. Manufacturers need to rely on replacement sales and innovations to stimulate demand. This saturation can hinder market growth unless new trends, vehicle designs, or regulations create opportunities for specialized or upgraded jack models.
 

COVID-19 Impact

The portable wheel jacks market may reach saturation when a significant portion of vehicle owners already possess one. In such a scenario, the market faces limited growth potential as most potential customers already have this essential tool. Manufacturers need to rely on replacement sales and innovations to stimulate demand. This saturation can hinder market growth unless new trends, vehicle designs, or regulations create opportunities for specialized or upgraded jack models.
 

Portable Wheel Jack Market Trends

Portable wheel jacks have become essential tools for vehicle owners including DIY enthusiasts and professional mechanics. The growing number of cars on the pneumatic directly correlates with the higher demand for these jacks, propelling market growth. According to the International Energy Agency, in 2022, the sales of conventional cars in advanced economies were around 16.1 million and around 19.0 million in emerging & developing economies. The rising passenger car sales and expanding customer base are boosting the demand for portable wheel jacks. As more individuals purchase passenger cars, the need for routine maintenance including tire changes and inspections increases, contributing to market size.
 

Portable Wheel Jack Market Analysis

Based on power type, the hydraulic segment held major portable wheel jacks market share in 2022. High lifting capacity is a significant factor propelling the hydraulic wheel jack segment within the market. Hydraulic jacks are engineered to lift heavier vehicles effectively, making them indispensable for owners of trucks, SUVs, and larger automobiles. Their robust hydraulic systems provide the power needed to lift substantial loads, offering a level of versatility and capability that other jack power types, such as scissor jacks or bottle jacks, cannot offer. This makes hydraulic wheel jacks the preferred choice when dealing with vehicles requiring substantial lifting force, driving their popularity in the market.
 

The automotive segment held over 28% of the portable wheel jacks market share in 2022, due to the expansion of automotive service centers. With a pneumatical network of service centers, vehicle owners are encouraged to maintain their vehicles regularly. For instance, in June 2023, Maruti Suzuki, a prominent car manufacturer in India, announced its intensified commitment to widen its service network nationwide. This strategic move is aimed at enhancing customer satisfaction and regaining lost market share.
 

Portable wheel jacks are essential for servicing and tire changes, promoting their demand. These service centers often require multiple jacks to accommodate high volumes of vehicles, further boosting the sales of portable wheel jacks within the automotive segment of the market.
 

North America portable wheel jacks market size dominated around USD 11.7 billion in 2022. The Do-It-Yourself (DIY) culture in North America is a significant factor supporting the market. Many vehicle owners take pride in personally handling basic automotive maintenance tasks such as tire changes and brake inspections. Portable wheel jacks are indispensable tools for these DIY enthusiasts, enabling them to lift their vehicles safely and efficiently for various repair & maintenance activities. This culture fosters a consistent demand for portable wheel jacks as DIY mechanics seek reliable & user-friendly solutions for their automotive needs.
 

Portable Wheel Jack Market Share

Major companies operating in the portable wheel jack market are:

• Autofit GmbH
•  ENERPAC
•  ESCO
•  Horizon Global
•  SPX Flow Inc.
• Sunex Tools
   

These companies are focused on strategic partnerships, new product launches, and commercialization efforts for market expansion. They are also heavily investing in research to introduce innovative products and garner the maximum market revenue.
 

Portable Wheel Jack Industry News

• In January 2023, Horizon Global Corporation, a prominent manufacturer of trailering and towing equipment, disclosed its formal merger with First Brands Group, LLC. As per the agreement, First Brands Group, a global automotive parts manufacturer serving the worldwide automotive aftermarket, will acquire Horizon Global.
   

This portable wheel jack market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) and volume (Units) from 2018 to 2032 for the following segmentation:

Market, By Power type

• Hydraulic
• Electric 
• Air
• Pneumatic

Market, By Application

• Automotive
• Marine
• Construction
• Mining
• Aerospace
• Railway
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
  • Italy
  • Russia
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • South Africa
  • Saudi Arabia