North America Vehicle Lift Market Size Likely to Reach at a CAGR of 4.5% By 2033

As per the current market research conducted by the CMI Team, the North America Vehicle Lift Market size is expected to record a CAGR of 4.5% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 3,245.88 Million, and in 2023, the market is projected at USD 3,121.04 Million. By 2033, the valuation is anticipated to reach USD 4,619.6 Million.

North America Vehicle Lift Market: Growth Factors and Dynamics

• Increasing Vehicle Ownership and Aging Vehicle Fleet: Higher vehicle usage in North America and the old age of vehicle fleets are also factors that strengthen the development of the vehicle lift market. Since the number of maintenance intervals during a vehicle’s life cycle is fixed, the longer vehicles are in use, repair and maintenance needs increase. Used cars are usually more demanding when it comes to servicing and hence demand effective lifting of the vehicle. This trend has boosted the setting and growth of automotive repair shops and service centers, resulting in high demand for vehicle lifts. Also, the growing vehicle population due to the continued expansion in disposable income and urbanization has driven the market. Original equipment manufacturers and suppliers in the automotive service industry continue to upgrade their lifting systems to improve efficiency and safety by opening up attractive business prospects in the vehicle lift sector.

• Growth of the Electric Vehicle (EV) Market: From the findings of this study, it can be inferred that the increasing levels of adoption of EVs create a fast-growing opportunity for the North American vehicle lift market. Due to the increased usage of EVs, there is always a need to get lifting equipment geared for the lifting of the EVs during their maintenance or repair. That is why finding lifting solutions customized to EVs’ unique design and weight distribution is critical. This has led to the evolution and design of exclusive lifts for electric vehicles, promoting the market’s growth. Besides, government programs patronizing the use of electric cars add to this craze and technological advancements. Service providers are also extending their capital expenditure to adapt their lifts to support EVs since the demand for such vehicles is rising. There is anticipation that this move towards EVs will remain constant, contributing to the ongoing need and potential for growth in advanced vehicle lifts.

• Technological Advancements in Vehicle Lifts: Technological expansion in the NVL is considered a significant factor in promoting the vehicle lift market in North America. Wireless controls, auto lifting systems, and better safety aspects add to the efficiency and effectiveness of vehicle lifts. These improvements have made vehicle lifts more convenient to operate and safe, and thus, they have been accepted in automotive service stations. Furthermore, via IoT and with the help of AI technologies, it is possible to predict possible failures and monitor the processes remotely, decreasing time and expenses. Technological advancement is always being incorporated today by manufacturers to release outstanding lifting solutions that meet the dynamic automotive sector. All these cite market technological improvements, enhancing further advances in market expansion.

• Stringent Safety and Regulatory Standards: The densely populated area of the North American region has already been following the strict safety and regulatory norms of lifting equipment, which has emerged as a key factor in the growth of the vehicle lift market. Lifting cars involves several high-risk processes. Safety organizations like the Occupational Safety and Health Administration (OSHA) have laid down numerous conditions for how car lifts should be used and maintained. Implementing these standards requires using sophisticated lifting equipment with superior safety requirements compared to standard lifting equipment. This has enhanced the need for certified and compliant vehicle lifts, enhancing the market growth. Furthermore, mandatory periods for inspection and certification of outlets equip service centres with new equipment, thus offering the manufacturers opportunities. Due to the ongoing focus on safety and compliance, trends of sophistication involving high-quality vehicle lifts are expected to remain strong, supporting market growth.

North America Vehicle Lift Market: Key Developments

• In October 2023, Honda Motor Co. Ltd unveiled a new mid-size SUV, the all-new Honda Passport, to be sold in the United States. The Honda Passport model would feature a remote-controlled power liftgate.

Report Scope

North America Vehicle Lift Market: COVID-19 Analysis

The COVID-19 pandemic significantly impacted the North America vehicle lift market in various ways:

• Market Disruptions: The North America vehicle lift market experienced negative impacts of the COVID-19 pandemic, which slightly affected the production of vehicle lifts and a significant factor that delayed the manufacturing operations of equipment and system lifts. : Lockdowns and social distance measures affected the manufacturing and distribution of vehicle lifts through disruption, making it costly. The restricted movement also impacted automotive service centres and reduced footfall, negatively affecting new equipment sales in the short term.

• Shift in Demand: During the COVID-19 pandemic, it was observed that collect and emergency car repairs were more popular than non-emergency car maintenance. This shift impacted the general demand for vehicle lifts to service essential cars rather than general used cars. Hygiene and safety measures also called for contactless and automated elevators and lifts.

• Acceleration of Digital Transformation: According to the findings, COVID-19 led to enhanced digitisation in the car service sector. Telemedicine, unstaffed service appointments, and online consultation impacted the kinds of vehicle lifts used. Service centres were forced to employ technological solutions to change the new normal and improve productivity.

• Supply Chain Challenges: The pandemic caused weaknesses in the global supply chain network, challenging the accessibility of materials and parts for vehicle lifts. There were difficulties faced by manufacturers, who struggled to acquire some of the key components needed for production, resulting in enhanced production complexity and escalating costs. Such disruptions affected the destiny and capacity of organizations to satisfy the market needs and offer competitive price levels.

• Long-term Market Trends: Therefore, after COVID‐19, the market for vehicle lifts has gradually revived due to the repressed demand and the increased need for car repair. The market is expected to grow once again as automotive service centers come back to normal operations after following the new health requirements. Further, the pandemic reflects that supply chain issues and digital technology are critical factors determining the future business market.

Overall, while the pandemic posed challenges to the North American vehicle lift market, it also accelerated specific trends and highlighted the resilience and adaptability of the industry in meeting evolving consumer needs during global disruptions.

List of the prominent players in the North America Vehicle Lift Market:

• BendPak Inc.
• Rotary Lift (Dover Corporation)
• Mohawk Resources Ltd.
• Forward Lift (Dover Corporation)
• Challenger Lifts
• Atlas Automotive Equipment
• Dannmar Equipment
• Stertil-Koni USA Inc.
• Sefac USA Inc.
• Backyard Buddy
• Titan Lifts
• Forward Lift
• Advantage Lifts
• Tuxedo Distributors LLC
• Pro-Lift (Shinn Fu Company of America Inc.)
• Others

The North America Vehicle Lift Market is segmented as follows:

By Type

• Portable Car Lifts
• In ground Car Lifts
• Parking Lifts
• Two Post Lifts
• Four Post Lifts
• Scissor Car Lifts
• Mobile Column Car Lifts

By Application

• Industrial
• Residential
• Commercial

By Distribution Channel

• Direct Sales
• Indirect sales
• Vehicle Lift Customers

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America