by The Car Ramp Market is estimated to be valued at US$ 1.17 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Car ramps are inclined platforms used to drive vehicles up for access underneath for repair, maintenance or other tasks. They provide an ergonomic and safer alternative compared to lifting vehicles manually or using floor jacks. Different types of car ramps available in the market include portable, permanent or garage installed ramps made of materials such as steel, aluminum or rubber. They find widespread application for DIY mechanics and auto repair shops for access to vehicle undercarriages and supporting drive-on access for maintenance and repair activities.
Market Dynamics:
The growing do-it-yourself (DIY) culture among vehicle owners is expected to drive the demand for car ramps over the forecast period. As vehicle maintenance and small repairs are increasingly handled by vehicle owners themselves due to rising labour costs at garages, purchasing of car ramps for safe vehicle access has surged. Additionally, increasing automotive fleet worldwide has led to rising demand for car repair and servicing equipment such as car ramps from independent auto repair shops and dealerships, thus propelling market growth. Furthermore, innovations in design and material such as portable, foldable designs and non-slip rubber ramp tops have augmented adoption across home and professional garages.
Segment Analysis
The car ramp market is segmented by type into portable ramps and stationary ramps. Portable car ramps dominate the market as they can be easily transported and installed at any place without permanent mounting, making them highly convenient for regular personal use. Stationary ramps are majorly adopted by garages and auto workshops for quickly working on vehicles.
PEST Analysis
Political: Regulations regarding vehicle modification and safety standards influence ramp design specifications.
Economic: A rise in personal vehicle ownership and DIY car repairs amid economic growth drive demand. Higher disposable incomes boost spending on automotive accessories.
Social: Changing lifestyles and increasing participation in automotive recreational activities foster the adoption of ramps for vehicle maintenance and repairs at home.
Technological: Advancements in material sciences aid in developing lightweight yet durable ramps for convenient portability and handling. Electronic safety features get integrated into certain high-end ramp models.
Key Takeaways
The global Car Ramp Market Size is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing vehicle ownership and do-it-yourself automobile repairs. The market size for 2023 is estimated at US$ 1.17 Bn.
Regional analysis: North America dominates the global car ramp market currently owing to the large existing vehicle fleet and prevalence of home garages in countries like the US and Canada. Asia Pacific is expected to be the fastest growing regional market led by China, where rising disposable incomes are driving more vehicle purchases and related aftermarket products.
Key players operating in the car ramp market are RhinoGear, Race Ramps, AutoZone, QuickJack, Discount Ramps, OTC Tools, Black Widow, BendPak, EZ Car Lift, Craftsman, Sunex Tools, RevZilla, Garage Living, Autobahn88, Torin Big Red. Key players are focusing on portfolio expansion and partnerships with automotive repair shops to strengthen distribution networks.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
