Dublin, April 25, 2023 (GLOBE NEWSWIRE) -- The "Power Liftgate Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This reportprovides strategists, marketers and senior management with the critical information they need to assess the market.
The global power liftgate market grew from $2.5 billion in 2022 to $2.78 billion in 2023 at a compound annual growth rate (CAGR) of 11.1%. The power liftgate market is expected to grow to $4.3 billion in 2027 at a CAGR of 11.5%.
Major players in the power liftgate market are Aisin Corporation, Autoease Technology, Brose Fahrzeugteile GmbH & Co. KG, Grupo Antolin, Johnson Electric, Magna International Inc., Woodbine Manufacturing Co Inc., HI-LEX Corporation, Strattec Security Corporation, Power-Packer Corporation, Mitsuba Corporation, Igarashi Electric Works Ltd., Plastic Omnium Group, Continental AG and Tesla Inc.
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The power liftgate refer to a motorized hatch which opens and closes electronically. Hands-free opening and shutting can be achieved using the digital access system and/or a capacitive kick sensor incorporated into the bumper. The liftgate or trunk can also be opened or closed using the buttons on the lid or the key fob.
The main types of systems in power liftgate market are hands-free and conventional. The hands-free liftgate is a smart feature of power liftgates which allows user to open and close the liftgate of the vehicle with a simple kick of the foot. It is used in two types of vehicles namely passenger vehicle and commercial vehicle and made up of materials such as metal and composite. Power liftgate are sold through sales channel such as OEM and aftermarket.
The power liftgate market research report is one of a series of new reports that provides power liftgate market statistics, including power liftgate industry global market size, regional shares, competitors with a power liftgate market share, detailed power liftgate market segments, market trends and opportunities, and any further data you may need to thrive in the power liftgate industry. This power liftgate market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Technological advancement in power liftgates is a key trend gaining popularity in the power liftgate market. Technologically advanced power liftgates include smart or hands-free power liftgates that are powered by sensors, control units, and other functions enabling hands-free opening and closing for convenient use. Key players are keenly focused on providing these technologically advanced power liftgates to acquire more customers and penetrate the market for additional business.
For instance, Brose Fahrzeugteile GmbH & Co. KG, a German automotive supplier offers advanced power liftgate drives that have additional functions such as liftgate drive, sensors, latch with power cinching unit, control unit, and anti-trap protection.
North America was the largest region in the power liftgate market in 2022. The regions covered in the power liftgate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the power liftgate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The rise in the adoption of electric vehicles is expected to drive the demand for the power liftgate market. Electric vehicles are automotive vehicles that use one or more electric motors for propulsion. Power liftgates are highly used in electric vehicles. Increasing the use of technology in the automotive industry brings many technological changes to its components and one feature that makes the powered tailgate even more useful is the ability to open the tailgate hands-free.
The electric vehicle increasingly needs components that are auto operated such as a power liftgate, in turn, the increasing adoption of electric vehicles will create more demand for power liftgates. For example, according to a report by the International Energy Agency (IEA), global electric car sales reached a record 3 million in 2020, a 40% increase from 2019. It is also estimated that there will be 300 million electric cars on the road by 2030, accounting for more than 60% of new car sales by then which was only 4.6% in 2020. Therefore, the increasing adoption of electric vehicles propels the growth of the power liftgate market.
The power liftgate market consists of sales of tuck-under, cantilever, and rail-lift. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $2.78 billion |
| Forecasted Market Value (USD) by 2027 | $4.3 billion |
| Compound Annual Growth Rate | 11.5% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Power Liftgate Market Characteristics
3. Power Liftgate Market Trends And Strategies
4. Power Liftgate Market - Macro Economic Scenario
4.1 COVID-19 Impact On Power Liftgate Market
4.2 Ukraine-Russia War Impact On Power Liftgate Market
4.3 Impact Of High Inflation On Power Liftgate Market
5. Power Liftgate Market Size And Growth
5.1. Global Power Liftgate Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Power Liftgate Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Power Liftgate Market Segmentation
6.1. Global Power Liftgate Market, Segmentation By System Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Hands-Free
- Conventional
6.2. Global Power Liftgate Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Passenger Vehicle
- Commercial Vehicle
6.3. Global Power Liftgate Market, Segmentation By Material, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Metal
- Composite
6.4. Global Power Liftgate Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- OEM
- Aftermarket
7. Power Liftgate Market Regional And Country Analysis
7.1. Global Power Liftgate Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Power Liftgate Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/7absjm
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