Power Liftgate Market was valued at USD 3.75 Bn in 2021 and is expected to reach at USD 6.90 Bn by 2029 at a CAGR of 7.9 % over forecast period 2022-2029.
Power Liftgate Market Overview:
The Power Liftgate Market analysis provides a comprehensive picture of competition, including the market share and company profiles of the worldwide industry’s top rivals. The research scope covers a complete analysis of the Power Liftgate Market, as well as the causes for variances in the industry’s growth in various places
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Power Liftgate Market Scope:
To identify and collect material suitable for this study, this research study makes considerable use of secondary sources, directories, and databases, such as annual reports, press releases, journals, corporate websites, and databases.
Power Liftgate Market Drivers:
A powered liftgate is a system in automobile in which opening or closing of the liftgate is inhibited if the vehicle is positioned too close to an obstruction for unobstructed movement of the liftgate. The present invention relates to automotive vehicles having an upwardly opening liftgate for providing access to the rear of the vehicle, and more particularly to a vehicle having a power-driven mechanism for opening the liftgate. Various factors such as growing need to improve passenger comfort and convenience, rise in sale of e-vehicles, growing demand for autonomous and semi-autonomous vehicles, rising adoption hand-free power liftgate technology from automotive sector are driving the power liftgate market over forecast period.
However, factors such as strict vehicle safety regulations, component reliability issues, and high costs associated with the development of the power liftgate are restraining the market growth over forecast period.
Global Power Liftgate Market is segmented by system type, vehicle type, by sales channel and by Region. By System type, the hands free power liftgate held 57.54% of market share in 2019 and is expected to keep its dominance over forecast period. These Liftgates are used with the help of power hydraulic mechanism to reduce the human efforts to lift the heavy objectives in the trucks within less time. Hand free power liftgate include precise way of latch locking and does not show any indication of proper latching on dashboard panel; therefore, the adaptation of hands free power liftgate is expected to increasing over forecast period.
Power Liftgate Market Market Segmentation:
Power Liftgate Market by System Type
• Conventional
• Hands-Free Power Liftgate
Power Liftgate Market by Vehicle Type
• Passenger Car
• Commercial Vehicle
• Heavy Vehicles
Power Liftgate Market by Sales Channel
• OEM
• Aftermarket
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Power Liftgate Market Key Players: The key players are
• Aisin Seiko co., ltd, (Japan)
• Brose Fahrzeugteile GmbH & Co. KG (Germany)
• Faurecia SA (France)
• Grupo Antolin Irausa S.A, (Spain)
• Huf Hülsbeck & Fürst GmbH & Co. KG. (Germany)
• Johnson electric (China)
• Magna International Inc., (Canada)
• Stabilus GmbH (Germany)
• Woodbine Manufacturing Co. Inc. (Tommy Gate) (US)
• STRATTEC (US)
• Robert Bosch GmbH (Germany)
• Continental AG (Germany)
• Stabilus GmbH
• HI-LEX Corporation
• VOXX Electronics Corp
• Powder-Packer Corp
• Autoease Technology
Regional Analysis:
Individual market influencing elements and changes in market legislation that affect current and future market trends are also included in the regional component of the Power Liftgate Market study. Current and future trends are examined to assess the entire market potential and uncover profitable trends to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.
Key Questions Answered in the Power Liftgate Market Report are:
Which sub-segment had the largest share in the Power Liftgate Market?
How is the competitive landscape of the Power Liftgate Market in 2023?
Which are the key drivers impacting the Power Liftgate Market growth?
Which region holds the maximum share in the Power Liftgate Market?
What will be the CAGR of the Power Liftgate Market during the forecast period (2023-2029)?
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