NEWARK, Del, July 28, 2022 (GLOBE NEWSWIRE) -- As per Future Market Insights’ latest industry analysis, the power liftgate market reached a US$ 2,741.9 Mn valuation in 2022, and is projected to display a strong 8.2% CAGR. Improvements in automation tech, and the rising popularity of retrofitting are expected to aid long-term developments in the industry.
While the market is expected to display a positive growth trajectory in the coming decade, prohibitive costs of configuration, and limited use in low and mid-range automobiles remain deterrents.
The automotive power liftgate is a hand-free system and can also be operated remotely. In automobiles, doors are quite different in design from one manufacturer to the next and even from one car model to another; however, the mechanism of the automotive power liftgate remains the same. Automotive power liftgates have good anti-corrosion properties, which in turn ensures the long life and proper working of back doors.
Get a Sample Copy of Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-12888
Key Takeaways
- The size of the power liftgate market is estimated to reach US$ 2,547.0 Mn by the end of 2021, with investments into automotive automation technologies being the key factors aiding developments in the industry.
- Luxury passenger cars will remain the leading end-users of power liftgates, while commercial vehicles are expected to reflect steady growth on the back of higher levels of domestic trade and ecommerce.
- Semi-automatic versions of power liftgates reflect relatively higher, albeit declining market share, owing to improvements in recent years in terms of automation technologies including AI and IoT.
- North America, followed by Europe, are lucrative markets for power liftgates, driven by strict emission regulations and the presence of leading automobile market players.
“Rising demand for reliability and comfort in driving experience and the growing value of the luxury vehicles segment around the world are key factors driving the demand for power liftgates. Manufacturers are pushing for improvements in terms of temperature and shock resistance, which will aid growth in the long-term,” said a lead FMI analyst.
Covid-19 Effect on Power Liftgate Market
Lockdown restrictions have affected production activities. Also, restrictions on trade have disrupted supply chains for raw materials and components.Concerns in terms of workforce shortage and finances will also remain important for the duration of the crisis. Changes in consumer spending behavior have impacted automotive sales, which in turn has hurt the demand for power liftgates. Recovery is likely to be gradual, owing to economic uncertainties and the largely non-essential nature of automotive components for the near future.
For any Queries Linked with the Report, Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-12888
Who is Winning?
In its new report, FMI has covered essential data on key business strategies that have been gaining traction in the power liftgate market. Market leaders have been focused largely on product development strategies, in addition to geographical expansion, especially considering the high potential of emerging economies.
Continental AG, Stabilus GmbH, Huf Hulsbeck & Furst GmbH & Co., Strattec Security Corporation, Brose Fahrzeugteile GmbH & Co., Johnson Electric Holdings Ltd., HI-LEX Corporation, VOXX Electronics Corp, Power-Packer Corporation, Magna International, Autoease Technology are some of the more prominent market players in the industry.
Power Liftgate Market: Regional Outlook
Asia Pacific is expected to contribute a considerable share throughout the forecast period, owing to the increasing disposable income of the middle class population in the region along with high living standards and increasing automobile sales. These factors are estimated to boost the demand for automotive power liftgates in the coming years. Europe also holds a prominent share of the automotive power liftgate market due to the large number of automobile manufacturers in the region.
Furthermore, North America is expected to dominate the automotive power liftgate market, owing to the increasing demand for luxury vehicles in the U.S. and Canada. Latin America, Middle East and Africa are projected to witness a surge in the demand for automobiles, owing to increasing urbanization and economic growth, which in turn will accelerate the growth of the automotive power liftgate market during the forecast period.
Click on the Below Link to Buy this Report@ https://www.futuremarketinsights.com/checkout/12888
Key Segments
Sales Channel
- OEM
- Aftermarket
Vehicle Type
- Passenger Vehicle
- Compact
- Mid-sized
- SUV
- Luxury
- Commercial Vehicle
Product Type
- Automatic
- Semi-Automatic
Region
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Europe (Germany, France, UK, Italy, Spain, Russia, BENELUX, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia & Pacific (India, Thailand, Indonesia, Malaysia, Rest of South Asia)
- Middle East & Africa (GCC Countries, Turkey, South Africa, Northern Africa, Rest of MEA)
Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-12888
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Key Developments
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
5. Global Power Lift Gate Market Demand Analysis 2015-2021 and Forecast, 2022-2030
5.1. Historical Market Volume (Mn Units) Analysis, 2015-2021
5.2. Current and Future Market Volume (Mn Units) Projections, 2022-2030
5.3. Y-o-Y Growth Trend Analysis
6. Global Power Lift Gate Market - Pricing Analysis
6.1. Regional Pricing Analysis
6.2. Global Average Pricing Analysis Benchmark
Explore wide-ranging Coverage of FMI's Automotive Market Insights
Automated People Mover Market Size: The global automated people mover market is estimated to reach US$ 2.49 Bn in 2022. Sales are projected to increase at a CAGR of 5.8% over the forecast period, reaching a valuation of US$ 4.36 Bn by 2032
Automotive Windshield Washer System Market Share: The automotive windshield washer system market to grow with a year on year growth of 5.7% in 2022 reaching a value of about US$ 19 Bn by 2022 end
Automotive Screenwash Products Market Value: Global automotive screenwash products demand is anticipated to be valued at US$ 2.05 Billion in 2022, forecast to grow at a CAGR of 2.5% to be valued at US$ 2.62 Billion from 2022 to 2032
Automotive Engineering Services Market Analysis: The automotive engineering services market is likely to strengthen its hold in the global market at a moderate CAGR of 8.6% during the forecast period
Automotive Back-up Camera Market Sales: The sales in the global automotive back-up camera market are expected to create an incremental opportunity of more than US$ 2.6 Bn by 2022, expanding at a staggering CAGR of around 8% to 9% during the forecast period 2022-2032
Automotive Steering System Market Trends: The global automotive steering system market is projected to total US$ 23.2 Bn in 2022. With sales growing at a healthy 4.6% CAGR, the market size is projected to total US$ 33.3 Bn by 2030
Automotive Window Regulator Market Forecast: Demand in the automotive window regulator market is projected to increase at a robust 4.5% CAGR between 2021 and 2031. Future Market Insights (FMI) forecasts the market value to top US$ 13.7 Bn in 2021
Automotive Display Units Market Type: The global automotive display unit market is forecasted to witness a considerable value CAGR of 8.3% during the forecast period 2022 and 2029
Automotive Brake Valve Market Demand: Global Automotive Brake Valves Market to experience year over year growth of 5.2% in 2022 and thus anticipated to reach US$ 6,551.1 by 2022 end
Automotive Gudgeon Pin Market Outlook: The Automotive Gudgeon Pin market to grow with year on year growth of 4.3% in 2022 reaching value of about US$ 3,149.4 Mn by 2022 end
About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 8-years.
Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
Report https://www.futuremarketinsights.com/reports/power-liftgate-market
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs
