The global 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, also known as automotive ramps, provide an inclined plane for vehicles to drive onto and off of for loading and unloading. They are used for easy access to vehicle undersides and to assist in mechanical work. Car ramps ensure safety during vehicle maintenance and repairs by preventing lifting from floor level.
Market key trends:
One of the major trends gaining traction in the car ramp market is the growing demand for lightweight and portable car ramps. With limited space availability in home garages and workshops, there is significant demand for compact and lightweight car ramps that can be easily stored and transported. Many key players are focusing on developing galvanized steel and aluminum ramps that are 40-50% lighter than conventional ramps while maintaining load capacities. This makes them ideal for home use as well as mobile workshops. The increasing popularity of DIY vehicle maintenance is also driving the need for affordable yet durable car ramps.
The car ramp market is witnessing high demand for heavier duty portable automotive ramps due to the increased usage of SUVs and trucks in recent years. More sturdy and durable ramps are being developed that can support heavier vehicles weighing up to 10,000 lbs. Manufacturers are also introducing ramps with non-slip surfaces and built-in safety locks to prevent vehicles from rolling back during maintenance and repair work.
SWOT Analysis
Strength: Heavy duty and extra durable construction of modern car ramps allowing them to support larger vehicles.
Weakness: High price of professional-grade car ramps limits their adoption among casual users.
Opportunity: Growing popularity of DIY vehicle repair and maintenance has opened up opportunities to target amateur auto enthusiasts.
Threats:Availability of inexpensive light duty ramps as alternatives from local manufacturers.
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 especially in developing regions of Asia Pacific and Latin America.
Regional analysis: North America dominates the car ramp market currently due to large existing fleet of vehicles. However, Asia Pacific is expected to witness fastest growth owing to rising disposable incomes and purchase of newer vehicles in countries such as China and India.
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. Price competitiveness among these players has ensured availability of car ramps at multiple price points to suit various user requirements.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.