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Global Automotive power liftgates Industry Market Dynamics & Strategic Insights (2023 – 2031)

Published : Dec 2023

Report ID: FMO9692

Pages : 250

Format :

A power tailgate system is a device that aids the opening and closing a car’s tailgate or boot
lid automatically. Hands-free power liftgate offers features such as intelligent anti-trap,
height memory function and others. The global hands-free power liftgate market is expected
to witness significant growth in the future, owing to increase in spending of luxury vehicles.
With continuous growth in the automobile sector, the automotive power lift gate market is
also pegged to register significant growth globally. Upcoming technologies and innovations
in the automotive industry such as a hand-free system for the opening and closing of back
doors, will drive the automotive power lift gate market.
The next five years for the global automotive liftgate market are going to be vigorous with
sizeable growth opportunities in the entire ecosystem of the market. The global automotive
liftgate market is estimated to grow at a healthy rate over the next five years to reach an
estimated value of US$ 3,857.2 million in 2024. The industry in Asia Pacific region is
expected to expand at a strong CAGR and is majorly fueled by the development of
population growth and inclination towards luxury cars. This has given rise to the increase in
demand for SUV’s with more comfort along with passenger vehicles. Technological
advancements have also increased the demand for automatic power liftgate due to
increased convenience and increased customize option of back door.
The Global Automotive Power Liftgate Market was valued at USD 2,348.4 Million in 2017, at
a CAGR of 7.57% from 2018 to 2024.
The market is analyzed across four geographical regions, namely, North America (U.S.,
Canada and Mexico), Europe (UK, Germany, France and rest of Europe), Asia-Pacific (China,
Japan, India and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).
Asia Pacific holds the highest market about 35% of total market share and is also the
fastest growing region with the CAGR of 7.57%. The Asia Pacific market is expected to
witness potential growth over the forecast period. Indian and Chinese automotive sector
developments are expected to boost the demand for power liftgate over the forecasted
timeline as the region is expected to witness strong growth of luxury cars. Whereas, high
Cost of sensors and changing regulations hindering the growth of the market.
European liftgate market holds the 2nd highest market share. Whereas, North American
market was holding 23% of the market share in 2017.
The Automotive Power Liftgate Market is segmented on the basis of by Types, with Semi Automatic Type holding the largest market share in 2017. The Automatic Type is projected
to reach USD 1,291.4 Million by 2024 with highest CAGR due to the owing to the increase in
demand for sensors and electronic devices/components in the field of automotive sectors.
Automotive Power Liftgate Market by application includes SUV, Sedan & Hatchback, MPV
and Other Vehicle. SUV’s car segment holds the largest share of 69% of market in 2017.
Global Automotive Power Liftgate Market (2018-2024)
Manufacturers are focusing more on the technological advancements and innovation to
garner the changing demand of end users in the power liftgate market. Some of the key
industry players in this market are Huf Hülsbeck & Fürst GmbH & Co. KG, Johnson electric,
Autoease Technology, Brose Fahrzeugteile GmbH & Co.KG, Aisin Seiko co. ltd, Faurecia SA,
Grupo Antolin Irausa S. A, Magna International Inc., Stabilus GmbH. Innovating lightweight
composite liftgate, mergers & acquisitions, and forming long-term contracts with OEMs are
the key strategies adopted by these players to gain a competitive edge in the market.

Scope:

Report Data Market
Forecast 2022 XX million/billion (2022-2032)
CAGR 2022 - 2032%
Analysis Period2022 - 2032
Base Year2021
Forecast Data2022 - 2032
Segments CoveredBy Type, By Application, And by Regions
Regional ScopeNorth America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled.
Key Segments

By Type

By Applications

Report CoverageMarket Drivers, Market Trends, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Frequently Asked Questions

What is the future market value of the ?

The current market value for is expected USD XX million/billion by 2022.

What is the CAGR of the Market?

The is to grow at a CAGR of 5.3% during the forecast by 2032.

What is the Market segment?

On the basis of type, the is segmented into Types.

Who are the key players operating in the ?

The major players operating in the are Company.

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Published Date : Dec 2023 | Formats :

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