Market Definition / Research Scope
A hydraulic jack is a piece of equipment mainly used to raise heavy loads by applying little force. The type of force used to raise heavy loads depends completely on the type of jack. Hydraulic jacks are also used for other purposes such as changing car tires, lifting a truck, and lifting heavy loads in industries. These jacks are employed in lifting platforms, material handling equipment, earth-moving equipment, and cranes that are fitted with hydraulic jacks to lift loads.
Hydraulic Jacks Market size shall reach a value of $2x61.4 Million in 2031, growing with a CAGR of 12.13% during the forecast period of 2022 to 2031.
There are two types of hydraulic jacks which are bottle jacks (whiskey jacks and hand jacks) and floor jacks (trolley jacks). Hydraulic jacks provide specific benefits over mechanical jacks. Hydraulic jacks are easier to use. They occupy less space, and they are effective for use with heavy loads. Lastly, they are a little lighter than a screw jack.
Hydraulic jacks are used majorly by the automobile industry, a mechanic or even an individual who owns a car. It is also used in power equipment and heavy industries that need important power to operate. They are utilized for all kinds of heavy vehicles and machinery, for example, forklifts, excavators, and elevators.
Hydraulic Jacks Market Growth and Trends
Driving factors:-
• The rapidly increasing demand from construction and industrialization along with an surge in the automation sector coupled with rising disposable income is enhancing the hydraulic jack market.
• Rapid technological advancements and growing urbanisation in countries like India and China, have led to threat of substitution in the global hydraulic jacks market.
• The global hydraulic jacks market is expected to expand rapidly during the forecast period, because of increased demand for hydraulic jacks in various industries like construction, shipyards, and automotive.
• Hydraulic jacks are used in heavy industrial and power equipment that need significant power to operate. They can be used for every type of heavy machinery and vehicles, be it, excavators, forklifts, or elevators. This, consequently, will enhance the demand for hydraulic jacks in heavy industries during the forecast period.
• The global bottle jack market is mainly driven by its above par operable characteristics such as easy operation, portable and less space required for travelling as compared to floor jack. The introduction of the electric jack is perceived to reduce the pace of the bottle jack global market. The growing bridge construction across the international market is likely to propel the demand for the bottle jack market.
• Increased disposable income of consumers and growth of industrialization are key factors anticipated to boost the global hydraulic market in the upcoming years
• Expansion of the automotive industry and automation in the automotive industry are important factors in augmenting the global hydraulic jacks market
• Hydraulic jacks lift loads while needing minimum work. This is an important factor anticipated to fuel the global market in the next few years.
• Rising demand for hydraulic jacks from the construction sector and growth of the automation sector are expected to propel the global hydraulic jacks market during the forecast period
• Furthermore, hydraulic jack manufacturers are taking up new, renewable-based operating processes to minimize the operating cost and implement new technologies, such as remote monitoring of activities for hydraulic jacks. This factor may possibly create new opportunities for the global market in the upcoming years.
Challenges faced :-
• However, high maintenance costs of hydraulic jacks and limitation on use in offshore applications are major factors expected to hinder the global hydraulic jacks market in the next few years.
• Rapid technological advancements have led to threat of substitution in the global hydraulic jacks market hindering the market’s growth.
Hydraulic Jacks Market Regional Analysis
Hydraulic Jacks Market Share and Competition
Key companies operating in this industry are: ENERPAC, SPX FLOW Inc., JPW Industries Inc., Torin Inc., STANLEY Infrastructure, Zinko Hydraulic Jacks, Shinn Fu Company of America, Inc., U.S. Jack Company, Craftsman, Techvos India, Canete Machinery Manufacturing Co., Ltd., Shanghai Baoshan Hydraulic Tool Co., Ltd., AC Hydraulic A/S, Halfords, TRACTEL, and SIP Industrial Products Ltd.
Hydraulic Jacks Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2022 – 2031)
• Data breakdown for every market segment (2022 – 2031)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2022 - 2031)
• Hydraulic Bottle Jacks
• Pancake Hydraulic Jacks
• Hydraulic Toe Jacks
• Hydraulic Floor Jacks
• Hydraulic Scissor Jacks
• Others
End-user Analysis (Revenue, USD Million, 2022 - 2031)
• Shipyards
• Bridge Building
• Plant Construction Sites
• Automotive
• Others
Region Analysis (Revenue, USD Million, 2022 - 2031)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Hydraulic Jacks Market Companies
• ENERPAC
• SPX FLOW Inc.
• JPW Industries Inc.
• Torin Inc.
• STANLEY Infrastructure
• Zinko Hydraulic Jacks
• Shinn Fu Company of America, Inc.
• U.S. Jack Company
• Craftsman
• Techvos India
• Canete Machinery Manufacturing Co., Ltd.
• Shanghai Baoshan Hydraulic Tool Co., Ltd.
• AC Hydraulic A/S
• Halfords
• TRACTEL
• SIP Industrial Products Ltd.
Available Versions: -
United States Hydraulic Jacks Market Research Report
Europe Hydraulic Jacks Market Research Report
Asia Pacific Hydraulic Jacks Market Research Report
India Hydraulic Jacks Market Research Report
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