New York, NY -- (SBWIRE) -- 06/30/2016 -- Automotive vehicles, in recent years, have become a necessary household entity rather than being a luxury as previously in the past. Rising living standards, rural and urban development, growth in disposable income has lead demand for automobiles to grow significantly over the past years. With high growth in automobile sales, the automotive maintenance, repairing and servicing sector is also expected to expand at a high growth rate over the forecast period. Multifunctional lift systems are used both at the manufacturing site and service stations for effective manufacturing and repairing of the vehicles in stipulated timeframe.

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Various types of multifunctional lift systems are used in the automotive sector to lift vehicles for repairing and shifting their location. Multifunctional lift systems are manufactured on the basis of vehicle standards. Traditional multifunctional lifts, due to their restricted use in service stations only, are now being replaced by modern multifunctional lift systems such as portable lift or mobile lift systems, which can perform work in less time with higher productivity. With high growth in the aftermarket and automotive service stations across the globe, the global automotive multifunctional lift systems market is expected to expand at a high CAGR over the forecast period. Manufacturers in the global automotive multi-functional lift systems market are highly focused to develop light weight, affordable, easy-to-use and safer multifunctional lifts which can improve productivity and efficiency of manufacturing/ servicing process in reduced time.

Market Dynamics

Proper maintenance of vehicles is highly recommended in order to keep them fuel efficient and in sync with the carbon emission regulations. Rising awareness among consumers and increasing fuel prices are the major macro-economic factors driving the demand for automotive service stations and in turn, for multifunctional lift systems, across the globe.

Major challenges faced by multifunctional lift system manufacturers are to avoid oil leakage and motor drive problems while lifting the vehicles in case of hydraulic lift and electrically driven lift, respectively. These challenges are directly responsible for increasing the maintenance cost and reducing process efficiency due to time delay involved. Safety of the technician working with the lift remain a critical issue for all multifunctional lift manufacturers in order to avoid any accident.

On the technology front, opportunity exists for manufacturers to introduce more reliable and innovative design, lightweight, portable, safer and mobile lift systems that can work efficiently at lower maintenance costs.

Market Segmentation

The global automotive multifunctional lift systems market is segmented on the basis of type, application and driving power and regions.

On the basis of type, global automotive multifunctional lift systems market is segmented as the following:

In ground Lift
Two Post Lift
Multi post runaway Lift
Low/Mid Rise frame engaging lift
Drive on parallelogram
Scissor lift
Movable- Wheel engaging Lift

On the basis of application, global automotive multifunctional lift systems market is segmented as the following:

Parking Area
Automotive Manufacturer
Dealer Owned Outlet
Specialty Outlet

Based on driving power, global automotive multifunctional lift systems market is segmented into:

Hydraulic Power
Electrical Power
Regional Analysis

Regionally, global automotive multi-functional lift system market is segmented into seven key regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan (APEJ), Middle East & Africa and Japan.

Key players

Key players identified in the global automotive multi-functional lift systems market include - Servo Tech India, EAE Automotive Equipment Co., Ltd., Dannmar Equipment, Konecranes, Rotary Lift, Advantage lift, SEFAC USA Inc., Nussbaum Automotive Solutions, Mohawk Resources, Ltd. And others.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.

The report covers exhaustive analysis on:

Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Value Chain

Regional analysis includes:

North America
Latin America
Asia Pacific
Japan
Western Europe
Eastern Europe
Middle East & Africa

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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.

Key points covered in the report

1) Report segments the market on the basis of types, application, products, technology, etc (as applicable)

2) The report covers geographic segmentation
North America
Europe
Asia
RoW

3) The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020

4) The report provides company profiles of some of the leading companies operating in the market

5) The report also provides porters five forces analysis of the market.-

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