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 are platforms used for safely elevating and inspecting various parts of a vehicle such as the underside, tires etc. They provide stability and security while working under vehicles which otherwise can be unsafe. Ramps come in various portable sizes and are made of durable, non-slip materials to withstand heavy loads. Market key trends: One of the key trends in the car ramp market is the increasing sales of electric vehicles which require more frequent underside checks and maintenance compared to traditional vehicles. As EVs gain popularity due to rising environmental concerns, the need for inspection and repair of high voltage components will fuel demand for suitable car ramps. Manufacturers are developing new lightweight, durable ramps tailored for electric vehicles. Segment Analysis The car ramp market is segmented by type into portable ramps and stationary ramps. Within these, the portable ramps segment dominates the market and accounts for over 60% share majorly due to ease of use and storage. Portable ramps can be easily transported from one place to another and stored after use owing to their compact and lightweight design. 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 number of DIY automotive service activities. Regional analysis North America dominates the global car ramp market with a share of over 35%, majorly driven by the rising trend of car modifications, customizations and car maintenance/repairs in home garages in countries like US and Canada. Key players 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, and Torin Big Red. The global car ramp market size is expected to reach US$ 1.17 Billion in 2023. The market is anticipated to grow substantially and projected to surpass US$ 1.65 Billion by 2030, expanding at a CAGR of 5.9% during the forecast period from 2023 to 2030. Read More, https://www.insightprobing.com/car-ramp-market-trends-size-and-share-analysis/
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