PUBLISHER: Market Research Future | PRODUCT CODE: 1508719
PUBLISHER: Market Research Future | PRODUCT CODE: 1508719
India Vehicle Lifts Market Research Report Data Analysis Based on (into two-post lifts, four-post lifts, scissors lift mobile/portable lifts, in-ground lifts, parking lifts and others), By Capacity (Below 4,500 Kg, 4,501 - 7,000 Kg, 7,001-10,000 Kg and Above 10,000 Kg), By End User (auto dealerships, independent repair shops, specialty service providers, automotive manufacturers, residential, commercial, government and public facilities and others) Industry Forecast to 2032
The India Vehicle Lifts market was valued at USD 25,964.62 thousand in 2022 and is predicted to grow to USD 49,408.55 thousand by 2032, with a CAGR of 6.68% over the forecast period. North India has the highest market share (29.0%), followed by South India (25.71%) and West India (22.59%). Furthermore, East India is predicted to have the greatest CAGR (7.18%), followed by North India (6.85%) during the prediction period 2023-2032.
The Indian vehicle lifts market is expanding rapidly, driven by reasons such as increased urbanization, rising disposable income, and the rise of the automotive sector. Vehicle lifts serve an important role in supporting effective car maintenance and repair activities, hence increasing the overall efficiency of automotive workshops and service facilities. With India's increasing demand for passenger and commercial cars, there is a greater need for advanced and dependable vehicle lifting systems, offering substantial potential for market competitors.
The rapid expansion of the automotive aftermarket sector is a key driver of growth in India's vehicle lifts market. As the number of vehicles in the country grows, so does the need for maintenance and repair services, increasing demand for vehicle lifts around the country. Furthermore, the rising complexity of modern automobiles, combined with the necessity for quick servicing and repairs, is forcing automotive workshops to invest in advanced lifting equipment capable of accommodating a diverse range of vehicles.
Furthermore, the transition to electric and hybrid vehicles is projected to have a significant impact on the Indian vehicle lifts market. Electric vehicles (EVs) and hybrid vehicles frequently have unique maintenance requirements and components, necessitating the use of specialist lifting solutions designed to accommodate their distinctive characteristics. As the number of electric and hybrid vehicles in India grows, there will be a greater demand for vehicle lifts built to meet the servicing demands of these environmentally friendly vehicles, creating attractive prospects for market participants.
The India Vehicle Lifts market is divided into the following types: two-post lifts, four-post lifts, scissors lift mobile/portable lifts, in-ground lifts, parking lifts, and others.
The market has been divided into four categories based on capacity: below 4,500 kg, 4,501 - 7,000 kg, 7,001-10,000 kg, and more than 10,000 kg.
The India Vehicle Lifts market is categorized by end-users into car dealerships, independent repair shops, specialty service providers, automobile manufacturers, residential, commercial, government and public institutions, and others.
The top market participants in the India vehicle lift industry include ATS ELGI Limited, RR Parkon, GMV INDIA, Manatec, Naugra, Oil Lube Systems Pvt Ltd., Sarveshwari Technologies Limited (SARV), and Kelvin Elevators.
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