According to a new report, the global automotive lifts market will surpass a market valuation of $9 billion by the end of 2026.
Feb. 18, 2020—The global automotive lifts market will experience a 1.4 times growth, to surpass a market valuation of $9 billion by the end of 2026, according to a report by Fact.MR.
In order to avoid congestion and eliminate potential injuries across garages, OEM plants and tire stations are rapidly adopting automotive lifts. The commercial scope of automotive lifts is pegged to become wider in the coming years.
In addition, high initial investments of OEMs towards setting up manufacturing units is urging them to buy expensive and advanced automotive lifts that offer long-term service life.
Scissor lifts are currently leading in the market with around 30 percent revenue share in automotive lift market, while mobile column lifts are witnessing growth of 1.3 times which is more than the global average.
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