New York, April 18, 2023 (GLOBE NEWSWIRE) -- Market.us predicts that the Automotive Power Liftgate Market will achieve a CAGR of 11% from 2023 to 2032, leading to a market size exceeding USD 5.3 billion by 2032, compared to its current size of USD 1.9 billion in 2022.
Automotive power liftgate refers to a feature in vehicles that allows the tailgate or trunk to be opened and closed automatically using an electric motor or hydraulic system. This feature can provide convenience and ease of use for loading and unloading loads, and can also enhance safety by preventing strain or injury from lifting heavy items. Some liftgate systems may also include sensors that detect the presence of an object or obstruction and automatically stop or reverse the opening process to prevent damage or injury. The automotive power liftgate provides a convenient and safe way to load and unload cargo and can make accessing the trunk or tailgate easier for people with limited mobility or strength.
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Key Takeaway:
- Based on type, in 2022, the automotive power liftgate market was dominated by the passenger cars segment owing to its increasing usage.
- By Propulsion type, in 2022, the Gasoline type segment dominated the largest market share.
- Based on Material type, in 2022, the automotive power liftgate market was dominated by the metal power liftgate type segment owing to its increased usage.
- By system type, the conventional type segment dominated the largest market share in system type analysis & accounted for the largest revenue share in the automotive power liftgate market in 2022.
- By sales channel, the OEM fragment dominated the largest market share.
- In 2022, Asia Pacific dominated the market with the highest share of 31.5%.
Factors affecting the growth of the Automotive Power Liftgate industry
Several factors can affect the growth of the automotive power liftgate industry, including:
- Consumer demand: Consumer demand for convenience and safety features in vehicles is a major driver of the power liftgate industry. As more consumers seek out vehicles with power liftgates, manufacturers will continue to invest in and improve these systems.
- Technological advancements: Advancements in liftgate technology, including sensors, cameras, and improved motor & hydraulic systems, can make power liftgates more reliable, efficient as well as user-friendly, leading to increased demand for these features.
- Government regulations: Government regulations and safety standards may require certain safety features, including power liftgates, in new vehicles. Compliance with these rules & regulations can drive industry growth as producers incorporate these features into their vehicles.
- Competitive market: Competition among automakers can drive innovation and investment in power liftgate technology, as manufacturers strive to differentiate their vehicles from rivals and meet consumer demands.
- Vehicle trends: The popularity of larger vehicles such as SUVs and crossovers, which often come equipped with power liftgates, can also drive industry growth as more consumers seek out these types of vehicles.
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Market Growth
The market growth of the automotive power liftgate industry is expected to be driven by factors such as increasing consumer demand for convenience and safety features, advancements in liftgate technology, government rules & regulations, and safety standards, competitive market pressures, and the popularity of larger vehicles like SUVs & crossovers. According to a few market research reports, the global automotive power liftgate market is expected to experience significant growth over the next several years, with a projected CAGR of around 11% from 2022 to 2032. This growth is driven by the increasing adoption of power liftgates in various types of vehicles, including passenger cars, commercial vehicles, and electric vehicles as well as advancements in liftgate technology and the rising demand for vehicle safety features.
Regional Analysis
Asia-pacific is estimated to be the most lucrative market in the global automotive power liftgate market, during the forecast period. Owing to the adoption of advanced safety functions and the rising demand for luxury automobiles. technological advancement in the region with a highly skilled workforce. With a CAGR of 9%, the automotive power liftgate market is expected to grow the fastest in North America. due to the high demand for vehicles with advanced safety features. The market's expansion is also influenced by consumers' increasing use of power liftgate systems in the region.
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Scope of Report
| Report Attribute | Details |
| Market Value (2022) | USD 1.9 Billion |
| Market Size (2032) | USD 5.3 Billion |
| CAGR (from 2023 to 2032) | 11% from 2023 to 2032 |
| Asia-Pacific Revenue Share | 31.5% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
Consumers are increasingly seeking out vehicles with convenience & safety features, such as power liftgates. As more consumers first prioritize these features, manufacturers are investing in and improving their liftgate systems to meet this demand. Technological advancements in liftgate systems, such as improved sensors, cameras, and motor & hydraulic systems, are making power liftgates more efficient, reliable, and also user-friendly. This is driving demand for these features and encouraging further investment and innovation in the industry. The competitive market is driving innovation and investment in liftgate technology, as manufacturers seek to differentiate their vehicles and meet consumer demands for safety and convenience features. The increasing popularity of electric vehicles is also expected to drive demand for power liftgates, as these vehicles often require new or innovative liftgate systems owing to their unique design and power requirements.
Market Restraints
Power liftgates can be more expensive than traditional manual liftgates, which may make them less impressive to cost-conscious consumers. This can limitation for the market growth of power liftgates, particularly in price-sensitive markets. Power liftgate systems are mostly more complex than manual liftgates, which can make them more difficult and expensive to repair or replace. Power liftgate systems can be more prone to mechanical failure than manual liftgates, which can lead to safety concerns and reduce consumer confidence in these features. This can be a significant barrier to adoption, particularly in safety-conscious markets.
Market Opportunities
The adoption of power liftgates in commercial vehicles, such as delivery vans and trucks, can offer significant growth opportunities for the industry. These vehicles often require heavy lifting and cargo loading, which can benefit from the added convenience and safety of power liftgates. The aftermarket sales of power liftgates can provide significant revenue opportunities for producers and retailers. By offering power liftgate kits or retrofitting services for existing vehicles, manufacturers can reach a wider range of consumers and expand their market reach. Producers can tap into this demand by offering power liftgate features in a wider range of vehicle models and at more affordable cost points.
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Report Segmentation of the Automotive Power Liftgate Market
Type Insight
With a projected CAGR of 11%, the passenger car market is the most lucrative in the global automotive power liftgate market. Attributable to these vehicles are outfitted with further developed well-being and solace highlights. The business vehicle part incorporates trucks, transports, vans, and additionally different vehicles that are utilized for business purposes right off the bat. Power liftgate systems are needed for commercial vehicles to handle hefty loads and efficiently handle cargo.
Propulsion Insight
Based on Propulsion, the Automotive Power Liftgate market is dominated by the Gasoline segment. In the Automotive Power Liftgate Market, the Electric Segment is anticipated to grow at the fastest rate. Electric vehicles are powered by electric motors and batteries, whereas gasoline- and diesel-powered vehicles are powered by traditional internal combustion engines.
Material Type Insight
Based on material type, the automotive power liftgate market is dominated by the metal power liftgate segment, owing to its durability and strength are important factors. Liftgates made of metal can be heavy, which can hurt a car's fuel economy and overall performance. On the other hand, composite power liftgates are made of lightweight materials like plastic composites, carbon fiber, or fiberglass.
System Type Insight
The Conventional segment is the most lucrative in the global automotive power liftgate market. Pressing a button just on the key fob or inside the car causes the liftgate either open or close when using a conventional power liftgate.
Sales Channel Insight
Based on sales channels, the Automotive Power Liftgate market is dominated by the OEM segment. Power liftgates that are included in automobiles during the manufacturing process are referred to as OEM. These liftgates are normally offered by the car maker and are made to work in unison with the current systems and parts of the car. The fastest-growing sales channel segment in the anticipated time frame is the aftermarket.
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Key Market Segments
Based on Type
- Passenger Cars
- SUVs
- Sedans
- Commercial Vehicle
- Other Cars
Based on Propulsion
- Gasoline
- Diesel
- Electric
Based on the Material Type
- Metal Power Liftgate
- Composite Power Liftgate
Based on the System Type
- Conventional
- Hands-Free Power Liftgate
Based on Sales Channel
- OEM
- Aftermarket
Recent Developments of the Automotive Power Liftgate Market
- In May 2022, Johnson Electric Holdings Limited published that it has developed one new power liftgate system with a hands-free function that can open or close the liftgate without the need for physical contact.
- In October 2022, Autoease Technology published that it has launched a new power liftgate system with a smart control feature that can be operated through a mobile app or voice commands.
Key Market Players:
Listed below are some of the most prominent automotive power liftgate industry players.
- Aisin Corporation
- Autoease Technology
- Brose Fahrzeugteile SE & Co. KG
- Continental AG
- Hi-Lex Corporation
- Huf Hulsbeck & Furst GmbH & Co.
- Johnson Holdings Limited
- Magna International Inc.
- Stabilus GmbH
- Tesla Inc.
- VOXX Electronics corp.
- Strattec Security Corporation
- Other Key Players
Related Reports
- Automotive liftgate market size is projected to Reach Multimillion USD by 2029, in comparison to 2023, at unexpected CAGR during the Forecast Period 2023-2029.
- Hands free power liftgate market was valued at $1,127.9 million in 2020 and is projected to reach $2,355.9 million in 2030, registering a CAGR of 7.8%
- Smart transportation market size is expected to be worth around USD 274.1 Billion by 2032 from USD 105.4 Billion in 2022, growing at a CAGR of 10.30% during the forecast period from 2023 to 2032.
- Cold chain monitoring equipment for the transportation market projected to be USD 10.2 billion by 2026 from USD 5.3 billion in 2022 at a CAGR of 16.6% during the forecast period
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