Focus on repair and maintenance in the industrial sector to

DUBAI, United Arab Emirates, Aug. 10, 2022 (GLOBE NEWSWIRE) — The global screw jack market is expected to grow at an average CAGR of 4.7% and reach an estimated valuation of US$378.4 million by 2032 The screw jack market is expected to reach USD 240.2 million by the end of 2022. The growth of the market is attributed to the increasing importance of repair and maintenance in the industrial sector. In addition to this, the growing focus on product development also bodes well for the market.

Screw jacks are used to elevate vehicles to perform basic repairs and maintenance tasks. Thus, the boom in the automotive sector is likely to promote the growth of the screw jack market. Developments in the automotive industry along with growth in vehicle sales worldwide are expected to boost the sales of screw jacks during the forecast period. The growth of automotive manufacturing in countries like Germany and China is also contributing to the growing demand for lifting jacks as automotive equipment. Moreover, with the increased demand for motor cars, the sales of screw jacks are expected to increase exponentially, as simple repairs and maintenance require lift jacks.

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In addition, the development of public transport, especially in the rail and air sectors, is also expected to complement the growing demand for screw jacks. Screw jacks are widely used in the repair and maintenance of rail-guided vehicles and aircraft. Therefore, the rapid growth in the rail and air transport sector is expected to promote the growth of the target market.

Moreover, the emergence of intelligent automation in the industrial sector is expected to boost the sales of screw jacks. Growing adoption of automation across multiple verticals such as chemical, automotive, energy and utilities will fuel screw jack sales

Again, jacks are typically used for loading and unloading in civil construction, infrastructure development, and industrial equipment handling. The screw jack market is expected to grow with the growth of investments in infrastructure, such as roads, bridges and railways, as well as the expansion of the construction sector.

Other factors such as efficiency and reliability to avoid human errors as well as the rapid transformation of industries towards smart manufacturing will positively influence the screw jack market during the forecast period.

“Development of modular screw jack designs that allow goods to be easily assembled from common components; cost effective and with fully customized devices will likely complement the growth of the screw jack market over the forecast period,” says an IMF analyst.

Key points to remember:

  • The expansion of the automotive industry coupled with the increasing adoption of automation to drive market opportunities.
  • The US screw jack market is expected to grow at a CAGR of 4.1%.
  • In India, the demand for screw jacks will exceed US$27.7 million by the end of 2032.
  • By product type, the bevel gear segment will present a market opportunity of US$21.8 million during the forecast period.
  • Based on, general industry and material handling together will account for 3/5ths of screw jack demand.

Competitive landscape

Columbus McKinnon, Haacon Hebetechnik GmbH, ZIMM, Unimec SPA, ANDANTEX Ltd., Joyce Dayton, Thomson Industries Inc., Power Jacks Ltd., INKOMA Group, Nippon Gear, JM Engineering Works, Lim-Tec Beijing Transmission Equipment Co. Ltd., SIJIE Industrial Co. Ltd., Chiaravalli Group Spa, Masko Tech Engineers, ACKLETECH Enterprises, Gears and Gears drives (India) Pvt. Ltd., MAKISHINKO Co.Ltd., Osaka Jack Co.Ltd., Nuodun Group, Wanxin, Weingrill Ing, Kelston Actuation, WMH Herion Antreiebstechnik, TSUBAKIMOTO, and Rosen among others are some of the major players in the screw jack market. presented in the full version of the report.

Major players in the market are employing acquisition and expansion tactics to improve the screw jack supply chain. Many leading screw jack manufacturers are also investing in research and development activities to utilize new technologies and gain a competitive advantage.

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More information about the Screw Jacks market report

In its latest report, FMI offers an unbiased analysis of the Global Screw Jacks Market, providing historic data from 2017 to 2021 and forecast statistics from 2022 to 2032. To understand the potential, growth, and scope of the global market , the market is segmented based on lubrication type (grease lubrication, oil lubrication), product type (worm gear, ball gear, bevel gear), load capacity (up to at 100 kN, 101-1000 kN, above 1001 kN), the application (general industry, material handling industry, aerospace and aeronautics, automotive, other) and region.

According to the latest IMF reports, based on regional growth, the screw jack market in North America is expected to show considerable growth, mainly driven by the US market. The US screw jack market is expected to grow at a CAGR of 4.1% over the assessment period. Sales of screw jacks in the United States are expected to reach $54.1 million by the end of 2032. The development of new and innovative products in the automotive industry and the expanding construction sector are responsible for the regional market growth.

The screw jack market in India is expected to grow at a CAGR of 6.6% between 2022 and 2032. The demand for screw jacks is expected to exceed US$27.7 million by the end of 2032. This growth is attributed to the growing demand from garages. and personnel for the repair of auto parts and other industrial parts. The region is considered one of the fastest growing screw jack markets. This is mainly due to the rapid growth of the automotive industry.

According to the latest IMF study, based on segmentation, the bevel gear segment is expected to dominate the market while presenting an opportunity worth $21.8 million over the forecast period. Whereas, based on application, general industrial and material handling together are likely to dominate the market with an opportunity of US$94.9 million.

Contents

1. Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply-side trends

1.4. Analysis and recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limits

3. Key Market Trends

3.1. Key trends impacting the market

3.2. Product Innovation / Development Trends

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Global Screw Jack Market by Category

By Product Type, the global screw jack market is segmented as follows:

  • endless screw
  • Ballscrew
  • bevel gear

By type of lubrication, the global screw jack market is segmented as follows:

  • grease lubrication
  • Oil lubrication

By load capacity, the global screw jack market is segmented as follows:

  • Up to 100kN
  • 101 – 1000kN
  • Above 1001kN

By Application, the global screw jack market is segmented as follows:

  • General industry
  • material handling industry
  • Aeronautics and Aeronautics
  • Automotive
  • Others

By region, the global screw jack market is segmented as follows:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • The Middle East and Africa

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