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Portable Wheel Jack Market Trends

Report ID: GMI6786
Published Date: Sep 2023
Report Format: PDF

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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.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of portable wheel jack reached USD 27.3 billion in 2022 and is set to grow at over 8% CAGR from 2023 to 2032, owing to the expanding automotive industry.

The hydraulic segment held major market share in 2022, as hydraulic jacks are engineered to lift heavier vehicles effectively, making them indispensable for owners of trucks, SUVs, and larger automobiles.

North America market was worth over USD 11.7 billion revenue in 2022, favored by the Do-It-Yourself (DIY) culture in the region.

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