ID: MRFR/AM/6921-HCR | February 2021 | Region: Global | 100 pages
Power liftgate market size is expected to be greater than USD 5 Billion by 2026 with a 6% CAGR over the forecast period.
The power Liftgate is a vehicle back door system and it is operated by both a hand-held remote or by pressing a key on the dashboard system. The user can control the vehicle liftgate open and close by pressing a key. It is designed for fail-safe operation in the case of network or power loss. This system consists of an electronic control unit, a drive unit, a capacitive sensor system, anti-pinch strips, and a power liftgate actuator.
This power liftgate ensures the long life and perfect working of back doors for its anti-corrosion properties. The power liftgate market size is expected to be greater than USD 5 Billion by 2026 with a 6% CAGR over the forecast period. With the arrival of advanced technologies and innovations, the growth of the automotive power liftgate industry value is raised.
The COVID-19 pandemic has surpassingly affected the automotive manufacturing sector. Due to the government regulations, continuous lockdowns, and coronavirus spread, most of the people stay in their homes, industries are got a lock for some days due to lack of production, manpower, and manufacturing materials. By decreasing the production, the demand over the power liftgate market also decreases.
The raw materials used in the manufacture of cars are supplied by China. But due to the coronavirus pandemic, the products from China are banned and the supply chain has been disrupted which leads to revenue losses in the market. After temporary close-downs, the growth of the market increases gradually.
Growing need to improve passenger comfort and convenience
There is a need of improving passenger comfort and convenience with advanced technologies like sensors, electronic-based components like hatch lift motor, actuator, hatch lift supports, and power liftgate kit, etc., By improving these technologies, the power liftgate market growth increases.
A rise in the sale of e-Vehicles
By increasing the demand for electronic-based vehicles, the demand for the market also increases. Several applications like brake vacuum sensors for pressure measurement, clutch sensors, proximity sensors, etc increases the demand the need for sensors.
A rise in spending on Luxury Vehicle
The demand for luxury vehicles, automatic hand-free power liftgate technology drives the growth of the power liftgate market. The features of the autonomous vehicle, enhanced safety features, telematics, and more drives the market.
Due to the lack of skilled operators like sense mechanism, Component reliability issues, and high-cost configuration for the development of power liftgate may restrict the growth of the market revenue. Sensors, actuators, and other electronic units are assembled in a single unit which results in a higher price that leads to an increase in the manufacturing cost of the product. The quality of the sensing mechanism was degraded due to the irregular maintenance and poor way of handling.
The rise in advanced technology and innovation in the automotive sector is one of the opportunities for the power liftgate industry. The advanced driver assistance system (ADAS) technology helps you to detect some objects and harmful road conditions and automatically slow down the vehicle’s speed. Apart, operating the vehicle through the Internet of Things(IoT) and other advanced technologies drives the market growth of power liftgate.
Study Objectives -
The global power liftgate market research has been segmented based on the sales channel, region, vehicle type, and system type.
Based on Sales Channel
Based on the sales channel, the power liftgate market is segmented into Aftermarket and OEM. Out of these two, Aftermarket is expected to hold the highest growth over the forecast period for its growth of the e-commerce sector in developing and developed regions.
Based on Region
The power liftgate market outlook is divided into four regions like Asia-Pacific, Europe, North America, and the rest of the world. Among these regions, Asia-Pacific is expected to grow more across the country. Because this region consists mostly of the middle-class people who purchase the vehicles of power liftgate SUVs and power liftgate cars and hence increases the demand for the market.
Based on Vehicle Type
Based on vehicle type, the power liftgate market is segmented into Passenger cars and commercial vehicles. The passenger car segment holds the largest market share among these two segments. Globally, it is expected to gain moderate growth over the forecast period for its high sales of passenger cars and high demand for power liftgate SUVs.
Based on System Type
The power liftgate market for system types is segmented into Conventional and hands-free power liftgate. Out of these, the conventional segment is expected to have significant growth over the forecast period for its high usage of pickup trucks, straight trucks, van, and trailer applications.
Regional Analysis -
The power liftgate market outlook is segmented into four regions like Asia-Pacific, Europe, North America, and the rest of the world. Asia-Pacific is expected to gain a considerable share over the forecast period due to its rise in middle-class people with high living standards that increase automobile sales. Europe holds a prominent share for its large number of automobile manufacturers.
Moreover, North America is expected to dominate the power liftgate market for its increase in demand for environment-friendly vehicles, increasing deployment from commercial vehicles and, luxury vehicles in the U.S and Canada. The other regions Latin America, Middle East, and Africa are expected to gain a surge in the demand for automobiles that leads to an increase in urbanization and economic growth and then the growth of the power liftgate industry during the forecast period. Brazil, Argentina, and Colombia are the regions increasing urbanization and government issues that lead to the growth of the market.
The major leaders of the power liftgate market research are the following:
Magna International Inc. is one of the top key players in this market that launches various advanced technologies. All the players are focussing on product development and launch strategies in the automation sector.
The power liftgate market research report is segmented into the sales channel, system type, vehicle type, and region.
By Sales Channel
Aftermarket and OEM
By Vehicle Type
Passenger car and commercial vehicle
Asia-Pacific, Europe, North America, and the remaining part of the world
|Market Size||2026: USD 5 Billion|
|CAGR||6% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||System Type, Vehicle Type, Sales Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Robert Bosch GmbH (Germany), STRATTEC (US), Johnson Electric (China), Grupo Antolin Irausa S.A, (Spain), Stabilus GmbH (Germany), Magna International Inc., (Canada), Woodbine Manufacturing Co. Inc. (Tommy Gate) (US), Aisin Seiko Co. Ltd, (Japan), Faurecia SA (France), Continental AG (Germany), Brose Fahrzeugteile GmbH & Co. KG (Germany), Huf Hülsbeck & Fürst GmbH & Co. KG. (Germany)|
|Key Market Opportunities||Rise in advanced technology and innovation in the automotive sector|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Over the projected timeframe, the market expansion can take place at a rate of 9%.
The market value can be more than USD 5 Billion by 2025.
STRATTEC (US), Johnson electric (China), Magna International Inc., (Canada), Grupo Antolin Irausa S.A, (Spain), Aisin Seiko co., ltd, (Japan), Continental AG (Germany), Stabilus GmbH (Germany), Huf Hülsbeck & Fürst GmbH & Co. KG. (Germany), Woodbine Manufacturing Co. Inc. (Tommy Gate) (US), Robert Bosch GmbH (Germany), Brose Fahrzeugteile GmbH & Co. KG (Germany), Faurecia SA (France), are the leading companies in the global market.
Amplified demand for smart and self-controlling power liftgate, the latest component technology as well as automatic liftgate, and developing countries of Mexico, China, Brazil, Chile, Argentina and Saudi Arabia provide abundant opportunities for the growth of the power liftgate market.
Surging demand for environment-friendly vehicles, rising deployment of rail liftgate in commercial vehicles, and increasing power liftgate truck rental services account for the market expansion in North America.
Surging demand for environment-friendly vehicles, increasing power liftgate truck rental services, and rising deployment of rail liftgate in commercial vehicles.