31-May-2022 | Facts and Factors
According to Facts and Factors, the Global Automotive Power Liftgate Market was valued at USD 1,629.5 million in 2021 and is predicted to increase at a CAGR of 13.5% to USD 3,483.6 million by 2028. The study examines the market in terms of revenue in each of the major regions, which are classified into countries.
With continued growth in the automotive industry, the automotive power liftgate market is expected to increase significantly internationally. Future automotive technology and improvements, such as a hands-free system for opening and closing back doors, will boost the automotive power liftgate market. The rising demand for luxury vehicles around the world, owing to rising consumer expenditure, is also likely to drive the market over the forecast period. Moreover, some insurance firms provide insurance premium discounts for automobiles that are outfitted with innovative technologies. This aspect is expected to drive the expansion of the automotive power liftgate market. Due to the presence of several competitors in the automotive market, manufacturers confront a number of obstacles.
This competitiveness is heightened by new ideas that result in breakthrough product introductions. Original Equipment Manufacturers (OEMs) are attempting to supply modern technological systems in vehicles in the approaching years, which is a major driver for the automotive power liftgate industry. Furthermore, OEMs are focused on long-term collaborations with automotive manufacturers in order to improve material quality and build unique systems. In the next years, this aspect is projected to drive the automobile power liftgate market. However, the initial cost of these systems is substantial, which raises the cost of the car, thereby impeding the growth of the automotive power liftgate market.
Browse the full “Automotive Power Liftgate Market By Sales Channel (OEM, Aftermarket), By Vehicle Type (Passenger Vehicle, Commercial Vehicle), By Product Type (Automatic, Semi-Automatic), and By Region - Global Industry Insights, Growth, Size, Share, Comparative Analysis, Trends and Forecast Report 2022 – 2028" report at https://www.fnfresearch.com/automotive-power-liftgate-market
In terms of Vehicle Type, the passenger car segment has the biggest market share. The increased demand for passenger automobiles globally is expected to drive market growth during the forecast period. This can be attributable to the growing global population and the resulting transportation needs. Furthermore, increased disposable incomes and higher living standards are expected to contribute significantly to market growth. Furthermore, quick technical breakthroughs and increasing investments by major market players in automotive power liftgate research and development are likely to boost industry expansion. These factors are expected to have a beneficial impact on market growth throughout the forecast period.
In terms of Product Type, the Automatic power liftgate category is expected to have a sizable market share in the automotive power liftgate industry. This increase can be ascribed to the greater deployment of automotive power liftgates, which can be controlled remotely or hands-free to open and close rear doors in a variety of vehicles, as demand for passenger comfort in automobiles rises. The Automatic power liftgates make freight loading and unloading easier.
The Asia Pacific region is expected to account for a sizable portion of the automobile power liftgate business throughout the projected period. This increase can be ascribed to the region's expanding population and increased demand for passenger vehicles. Furthermore, increased disposable incomes and improving living standards are likely to contribute to market growth. The region is the primary market for several global and local car manufacturers and tier players, with automotive exterior component makers collaborating with OEMs to produce next-generation liftgates for their future automobiles. Furthermore, the presence of the region's major industry players is expected to help market growth. Meanwhile, the vehicle power liftgate sector is expected to rise as a result of increased OEM investments in the automobile industry.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 1,629.5 Million |
Projected Market Size in 2028 |
USD 3,483.6 Million |
CAGR Growth Rate |
13.5% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
Magna International, Stabilus GmbH, Continental AG, Brose Fahrzeugteile SE & Co. KG, Huf Hulsbeck & Furst GmbH & Co., Strattec Security Corporation, Johnson Electric Holdings Ltd., HI-LEX Corporation, VOXX Electronics Corp, Powder-Packer Corp, Autoease Technology, and Others |
Key Segment |
By Sales Channel, Vehicle Type, Product Type, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Some of the main competitors dominating the global automotive power liftgate market are Magna International, Stabilus GmbH, Continental AG, Brose Fahrzeugteile SE & Co. KG, Huf Hulsbeck & Furst GmbH & Co., Strattec Security Corporation, Johnson Electric Holdings Ltd., HI-LEX Corporation, VOXX Electronics Corp, Powder-Packer Corp, Autoease Technology
The global automotive power liftgate market is segmented as follows:
By Sales Channel
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
By Product Type
By Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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