Market Research Future Insights
The power liftgate market refers to the global industry that produces and sells power-operated liftgates for vehicles. A power liftgate is a motorized rear door that opens and closes automatically with the push of a button or a remote key fob.
The market for power liftgates has been growing steadily in recent years due to the increasing demand for convenience and safety features in vehicles. Power liftgates are now standard or optional equipment on many mid-size and large SUVs, minivans, and other vehicles.
The market is driven by several factors, including the increasing popularity of SUVs and crossovers, which typically come with power liftgates as standard or optional equipment. Additionally, the increasing demand for advanced safety features, such as collision avoidance systems, is driving the adoption of power liftgates, which can help prevent accidents and injuries.
According to MRFR analysis, the global Power Liftgate Market is expected to register a CAGR of ~6% from 2022 to 2030 and hold a value of over USD 8.74 billion by 2030.
A hand-held remote control or pushing a key on the dashboard system are both used to open the power Liftgate, a vehicle's rear door mechanism. By pushing a key, the user may open and close the vehicle liftgate. It is built to operate safely in the event of network or power failure. An electronic control unit, a drive unit, a reactive sensor system, anti-pinch strips, and a powered liftgate actuator make up this system.
One of the prospects for the power liftgate business is the growth of innovative and sophisticated technologies in the automotive sector. Your vehicle's speed will be automatically reduced as a result of the advanced driver assistance system (ADAS) technology's aid in detecting some objects and hazardous driving circumstances. The market for power liftgates is expanding in addition to using the Internet of Things (IoT) and other cutting-edge technology to operate the vehicle.
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Regional Analysis
Asia-Pacific is predicted to gain a significant share throughout the projection period because of an increase in middle-class individuals with good living standards, which drives up automotive purchases. Europe has a significant market share due to its high number of vehicle manufacturers.
Furthermore, North America is predicted to lead the power liftgate market because of a growth in demand for environmentally friendly cars, as well as increased deployment from commercial and luxury automobiles in the United States and Canada. During the projection period, the other areas of Latin America, the Middle East, and Africa are likely to have an increase in automotive demand, which will contribute to an increase in urbanization and economic growth, as well as the expansion of the power liftgate sector.
Power Liftgate Market Overview:
The power liftgate market is a segment of the automotive industry that deals with the production and sales of power liftgates for vehicles. A power liftgate, also known as an electric tailgate or power tailgate, is a convenient and practical feature that allows the tailgate of a vehicle to be opened and closed automatically.
This market has seen significant growth in recent years due to the increasing demand for comfort and convenience features in vehicles. The integration of advanced technology and the growing demand for SUVs and crossover vehicles, which typically have larger trunks, have also driven the growth of the power liftgate market.
The market is segmented based on the type of power liftgate (swing-type or lift-type), the type of vehicle (passenger cars, SUVs, and others), and geography. Key players in the market include Toyota Motor Corporation, Honda Motor Co., Ltd., General Motors, Volkswagen AG, and others.
The power liftgate market is expected to continue its growth in the coming years, with the increasing demand for luxury and premium vehicles and the incorporation of advanced technologies such as remote control, hands-free operation, and obstacle detection. However, the market may face challenges such as high costs, which may act as a barrier for the widespread adoption of power liftgates.
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Market Segmentation
The Global Power Liftgate Market has been segmented into System Type, Vehicle Type, and Sales Channel
Based on the System Type, the market has been segmented into Conventional and Hands-Free Power Liftgate.
Based on the Vehicle Type, the market has been segmented into Passenger Cars and Commercial Vehicle.
Based on the Sales Channel, the market has been segmented into OEM and Aftermarket.
Key Players
Some of the key market players are STRATTEC, Johnson Electric, Magna International Inc, Grupo Antolin Irausa, Aisin Seiko co. ltd, Continental, Stabilus GmbH, Huf Hülsbeck & Fürst GmbH & Co. KG, Woodbine Manufacturing Co. Inc. (Tommy Gate), Robert Bosch GmbH, Brose Fahrzeugteile GmbH & Co, Faurecia SA.
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