Global Automotive Power Liftgate Market is expected to foresee high growth. North America holds the largest share!
- Himanshu Patni
- December 18, 2021
- AUTOMOTIVE, NEWS
- Automotive Power Liftgate Market, Automotive Power Liftgate Market growth, Automotive Power Liftgate Market share, Automotive Power Liftgate Market size, Automotive Power Liftgate Market trends
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Global Automotive Power Liftgate Market is expected to grow at a CAGR of around 5.8% during the forecast period 2021-2027. Electromechanical devices that control back doors in passenger cars and commercial vehicles are known as power liftgates. In the automotive industry, recent advancements in electric locks, torque cables, direct units, and touch sensors have boosted adoption rates. Long-term market prospects are likely to be boosted by the ongoing transition to electric automobiles and other autonomous and semi-autonomous technology in vehicles for user convenience. The rising global market for luxury automobiles, owing to rising consumer expenditure, is also likely to propel the industry throughout the forecast period. Consumer need for a more comfortable and reliable driving experience is projected to increase the demand for a power liftgate.
The rising population in high and low-income, dense cities will create new demand for technologically advanced vehicles with all new safety and automated features to serve customer better. The demand for luxury vehicles will also see a rise as high-income group population increases in future. All these factors will create demand for automotive power liftgate industry, as it would further add new convenience feature for the customer which is more in demand for luxury vehicles.
For a detailed analysis of the Covid-19 Impact on the market browse through – https://univdatos.com/report/automotive-power-lift-gate-market/
The COVID-19 epidemic has had a significant impact on the automotive industry. Because of government laws, continual lockdowns, and the spread of the coronavirus, most people are staying at home, and industries have been shut down for a few days due to a lack of production, staff, and manufacturing materials. As production declines, demand for the power liftgate market declines as well. China provides the raw materials utilized in the production of automobiles. However, due to the coronavirus epidemic, Chinese items were banned, and the supply chain was interrupted, resulting in market revenue losses. Following occasional halts in growth, the market is likely to gradually recover.
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For a better understanding of the market adoption of Automotive Power Liftgate, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World. North America dominated the market in 2020 and is expected to grow at a higher rate during the forecasted period. The presence of several significant automotive OEMs and automation technology providers, particularly in the United States, is projected to have an impact on the North American power liftgate industry.
Global Automotive Power Liftgate Market Segmentation
Market Insight, by System Type
Market Insight, by Vehicle Type
- Passenger Car
- Commercial Vehicle
Market Insight, by Material Type
Market Insight, by Sales Channel
Market Insight, by Region
- North America Automotive Power Liftgate Market
- United States
- Rest of North America
- Europe Automotive Power Liftgate Market
- United Kingdom
- Rest of Europe
- Asia Pacific Automotive Power Liftgate Market
- South Korea
- Rest of Asia-Pacific
- Rest of World Automotive Power Liftgate Market
Top Company Profiles
- Magna International Inc.
- Faurecia SE
- Huf Group
- Aisin Seiko co., Ltd.
- Robert Bosch GmbH
- Continental AG
- Grupo Antolin Irausa S.A.
- Brose Fahrzeugteile GmbH & Co.KG
- Johnson Electric
- Woodbine Manufacturing Co. Inc.