PUBLISHER: The Business Research Company | PRODUCT CODE: 1248982
PUBLISHER: The Business Research Company | PRODUCT CODE: 1248982
“Power Liftgate Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on power liftgate market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for power liftgate? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The power liftgate market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Companies Mentioned: Aisin Corporation; Autoease Technology; Brose Fahrzeugteile GmbH & Co. KG; Grupo Antolin; Johnson Electric
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Major players in the power liftgate market are: Aisin Corporation, Autoease Technology, Brose Fahrzeugteile GmbH & Co. KG, Grupo Antolin, Johnson Electric, Magna International Inc., Woodbine Manufacturing Co Inc., HI-LEX Corporation, Strattec Security Corporation, Power-Packer Corporation, Mitsuba Corporation, Igarashi Electric Works Ltd., Plastic Omnium Group, Continental AG and Tesla Inc.,
The global power liftgate market grew from $2.5 billion in 2022 to $2.78 billion in 2023 at a compound annual growth rate (CAGR) of 11.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The power liftgate market is expected to grow to $4.3 billion in 2027 at a CAGR of 11.5%.
The power liftgate market consists of sales of tuck-under, cantilever, and rail-lift. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The power liftgate refer to a motorized hatch which opens and closes electronically. Hands-free opening and shutting can be achieved using the digital access system and/or a capacitive kick sensor incorporated into the bumper. The liftgate or trunk can also be opened or closed using the buttons on the lid or the key fob.
North America was the largest region in the power liftgate market in 2022. The regions covered in the power liftgate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of systems in power liftgate market are hands-free and conventional. The hands-free liftgate is a smart feature of power liftgates which allows user to open and close the liftgate of the vehicle with a simple kick of the foot. It is used in two types of vehicles namely passenger vehicle and commercial vehicle and made up of materials such as metal and composite. Power liftgate are sold through sales channel such as OEM and aftermarket.
The rise in the adoption of electric vehicles is expected to drive the demand for the power liftgate market. Electric vehicles are automotive vehicles that use one or more electric motors for propulsion. Power liftgates are highly used in electric vehicles. Increasing the use of technology in the automotive industry brings many technological changes to its components and one feature that makes the powered tailgate even more useful is the ability to open the tailgate hands-free. The electric vehicle increasingly needs components that are auto operated such as a power liftgate, in turn, the increasing adoption of electric vehicles will create more demand for power liftgates. For example, according to a report by the International Energy Agency (IEA), global electric car sales reached a record 3 million in 2020, a 40% increase from 2019. It is also estimated that there will be 300 million electric cars on the road by 2030, accounting for more than 60% of new car sales by then which was only 4.6% in 2020. Therefore, the increasing adoption of electric vehicles propels the growth of the power liftgate market.
Technological advancement in power liftgates is a key trend gaining popularity in the power liftgate market. Technologically advanced power liftgates include smart or hands-free power liftgates that are powered by sensors, control units, and other functions enabling hands-free opening and closing for convenient use. Key players are keenly focused on providing these technologically advanced power liftgates to acquire more customers and penetrate the market for additional business. For instance, Brose Fahrzeugteile GmbH & Co. KG, a German automotive supplier offers advanced power liftgate drives that have additional functions such as liftgate drive, sensors, latch with power cinching unit, control unit, and anti-trap protection.
In April 2021, one of the world's largest Tier One automotive suppliers, AISIN Seiki Co Ltd., and its subsidiary AISIN AW Co Ltd merged their business operations to establish AISIN Corporation. The merger enhances the company's commitment to delivering the next generation of mobility and offering an enhanced customer experience with current products and future technologies. The new entity, AISIN Corporation is a Japanese corporation that develops and produces components and systems including tailgate systems for the automotive industry.
The countries covered in the power liftgate market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The power liftgate market research report is one of a series of new reports from The Business Research Company that provides power liftgate market statistics, including power liftgate industry global market size, regional shares, competitors with a power liftgate market share, detailed power liftgate market segments, market trends and opportunities, and any further data you may need to thrive in the power liftgate industry. This power liftgate market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.