Automotive Power Lift gate Market: Current Analysis and Forecast (2021-2027)
$3999 – $7577
Emphasis on System Type (Conventional and Hand-Free); Vehicle Type (Passenger Car and Commercial Vehicle); Material Type (Metal and Composite); Sales Channel (OEMs and Aftersales); and Region/Country
Global Automotive Power Liftgate Market is anticipated display a CAGR of around ~5.8% over the forecast period (2021-2027). The power Liftgate is a car back door system that can be controlled with a hand-held remote or a key on the dashboard system. By pushing a key, the user can open and close the vehicle liftgate. It is built to operate in the event of a network or power outage. An electronic control unit, a drive unit, a capacitive sensor system, anti-pinch strips, and a power liftgate actuator make up this system. Modern power liftgate designs are focused on minimizing component space and weight, which has always been a priority for automakers, particularly for luxury vehicles. Novel product designs, such as composite designs and anti-corrosion coatings, have helped to increase fuel efficiency, which has boosted adoption possibilities. Consumer desire for power liftgates has been influenced by rising worldwide disposable incomes and the resulting growth in demand for luxury passenger car models.
Insights Presented in the Report
“Amongst System Type, Conventional segment dominated the market in 2020”
Based on system type, the market is segmented into Conventional and Hand-Free. The conventional market, with its high usage in pickup trucks, straight trucks, vans, and trailer applications, is predicted to develop significantly throughout the projection period. However, the hand-free power liftgates are gaining traction as traditional power liftgates needed some human effort, newer models are largely hands-free. In low-height garages, power liftgate components that allow for hands-free access are becoming increasingly popular. Back doors can be opened with only minor human intervention, such as mild kicks under the rear bumpers.
“Amongst Vehicle Type, Passenger Car segment dominated the market in 2020.”
Based on vehicle type, the market is segmented into passenger car and commercial vehicles. The passenger car category dominates the automotive power liftgate market, and it is likely to continue to do so during the forecast period. The growth of the passenger car category in the market has been aided by increased sales and manufacturing of passenger automobiles in countries like China and India are acting as a growth factor. Over the projection period, the commercial vehicle segment is also expected to rise strongly in this market.
“Amongst Material, Metal segment dominated the market in 2020.”
Based on material type, the market is segmented in metal and composite. The metal segment is expected to grow at a higher rate during the forecasted period. The growing safety concerns while driving is one of the main factors for this growth. The market’s highest account share belongs to the metal power liftgate sector. In the market, the composite power liftgate category is predicted to rise rapidly. The market for metal power liftgates is expected to change to composite power liftgates as government pollution regulations become more rigorous, forcing automakers to reduce vehicle weight. The composite material is both lightweight and durable when compared to metal.
“Amongst Sales Channel, Aftersales segment dominated the market in 2020.”
Based on sales channel, the market is segmented in OEMs and Aftermarket. The OEM segment is expected to grow at higher rate during the forecasted period. A major factor driving demand in the near future is the rising emphasis on investments made in research and development for unique design and tech breakthroughs in automotive goods. In addition, demand for aftermarket parts will be boosted by interest in retrofitting activities.
“North America represents as the largest market.”
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, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World. During the projection period of 2021-2027, North America is expected to be the largest market. 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. The power liftgate business is going to be driven by strict road safety requirements and advances in advanced driver support systems with AI and IoT improvements. The rising demand for luxury vehicles, as well as the growing demand for electric vehicles, are expected to drive market expansion in this region. Some of the major players operating in the market includes Magna International Inc., Faurecia SE, Huf Group, Aisin Seiko co., Ltd., Robert Bosch GmbH, Continental AG, Grupo Antolin Irausa S.A., Brose Fahrzeugteile, Johnson Electric and Woodbine Manufacturing Co. Inc. etc.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional & country-level analysis of the industry
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|1.4.||Currency used in Report|
|2.1.||Research Process of the Automotive Power Liftgate Market|
|2.2.||Research Methodology of the Automotive Power Liftgate Market|
|2.5.||Main Objective of the Automotive Power Liftgate Market Study|
|5||AUTOMOTIVE POWER LIFTGATE MARKET COVID-19 IMPACT|
|6||AUTOMOTIVE POWER LIFTGATE MARKET REVENUE (USD BN), 2019-2027F|
|11.1.||NORTH AMERICA AUTOMOTIVE POWER LIFTGATE MARKET|
|11.1.3.||Rest of North America|
|11.2.||EUROPE AUTOMOTIVE POWER LIFTGATE MARKET|
|11.2.6.||Rest of Europe|
|11.3.||ASIA-PACIFIC AUTOMOTIVE POWER LIFTGATE MARKET|
|11.3.5.||Rest of Asia-Pacific|
|11.4.||REST OF WORLD AUTOMOTIVE POWER LIFTGATE|
|13||AUTOMOTIVE POWER LIFTGATE MARKET OPPORTUNITIES|
|14||AUTOMOTIVE POWER LIFTGATE MARKET TRENDS|
|15||LEGAL & REGULATORY FRAMEWORK|
|16.1.||Demand Side Analysis|
|16.2.||Supply Side Analysis|
|17||VALUE CHAIN ANALYSIS|
|18.1.1.||Company Shares, By Revenue|
|19.1.||Magna International Inc.|
|19.4.||Aisin Seiko co., Ltd.|
|19.5.||Robert Bosch GmbH|
|19.7.||Grupo Antolin Irausa S.A.|
|19.8.||Brose Fahrzeugteile GmbH & Co.KG|
|19.10.||Woodbine Manufacturing Co. Inc.|
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.
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Automotive Power Liftgate Market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Automotive Power Liftgate, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are by system type, vehicle type, material type, and sales channel. Further regional & country-level analyses were conducted to evaluate the overall adoption of the Automotive Power Liftgate Market in the global context.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size. Further, we conducted factor analysis using dependent and independent variables such as growing government incentives and demand for eco-friendly transportations etc. Historical trends and their year-on-year impact on the market size and share was analyzed. Demand and supply side scenario was also thoroughly studied.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Market, and market shares of the segments and company. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of Automotive Power Liftgate across the major markets
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Automotive Power Liftgate Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Automotive Power Liftgate market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of mode, battery type, application, and region.
The main objective of the Automotive Power Liftgate Market Study
The current & future market trends of Automotive Power Liftgate were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional & country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Automotive Power Liftgate in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include type, application, and vehicle
- Defined analysis of the regulatory framework for the Global Automotive Power Liftgate industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Automotive Power Liftgate for the major regions & countries
- Major regions studied in the report include North America (US, Canada, Rest of North America), Europe (Germany, United Kingdom, France, Italy, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), and Rest of World
- Company profiles of the Automotive Power Liftgate Market players and the growth strategies adopted by them to sustain in the fast-growing market
- Deep dive regional & country level analysis of the industry