Global Power Liftgate Market was valued at USD 3.23 Bn in 2019 and is expected to reach at USD 5.93 Bn by 2027 at a CAGR of 7.9 % over forecast period 2020-2027.
The report covers an in depth analysis of COVID 19 pandemic impact on Global Power Liftgate Market by region and on the key players revenue affected till April 2020 and expected short term and long term impact on the market.
Global Power Liftgate Market Dynamics;
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.
By vehicle, passenger vehicle segment is expected to dominate the global market with xx% of market share over forecast period. Various factors such as increasing purchasing power, strengthening economies are driving the demand for passenger vehicles. Thus, rise in spending on passenger vehicles around the globe is expected to drive the market growth of this segment over forecast period.
By geography, Asia Pacific dominated the global market with xx% of market share in 2019 and is expected to keep its dominance over forecast period. An increasing disposable income of the middle class population in the region along with high living standards and increasing automobile sales. Moreover, many OEMs in this region are aiming to provide advanced technology systems in vehicles, which is driving the market growth of this segment over forecast period. APAC is followed by Europe and North America.
Europe is expected to hold xx% of market share over forecast period due to the large number of automobile manufacturers in the region. Growing demand for smart, adaptive and self-controlling power liftgate, from developed economies such as France, U.K., Germany and Spain are creating lucrative opportunities for the market.
Report covers in depth analysis of key development, marketing strategies, value chain, supply chain and company profiles of market leaders, potential players and new entrants. The market is consolidated by players such as 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) and Johnson electric (China). These players accounted more than 70% of market share in 2019. These key players operating in this market are adopting various organic and inorganic growth strategies such as merger& acquisitions, collaborations, strategic alliances, expansion, joint ventures, new product launches, patent and diversification to increase regional presence and business opeartions.
The objective of the report is to present a comprehensive analysis of the Global Power Liftgate Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Power Liftgate Market dynamics, structure by analyzing the market segments and project Global Power Liftgate Market. Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Power Liftgate Market make the report investor’s guide.
Scope of Global Power Liftgate Market
Global Power Liftgate Market Segmentation by System Type
• Hands-Free Power Liftgate
Global Power Liftgate Market Segmentation by Vehicle Type
• Passenger Car
• Commercial Vehicle
• Heavy Vehicles
Global Power Liftgate Market Segmentation by Sales Channel
Global Power Liftgate Market Segmentation by Region
• North America
• MEA& Africa
• South America
Global Power Liftgate Market Major Market players
• 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)
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