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The increase in demand for the electronic and sensor-based components within vehicles is expected to drive the automotive power liftgate market. Moreover, the rising technological advancements and innovation in the automobile industry are anticipated to generate numerous opportunities for the power liftgate manufacturers. Additionally, many automobile manufacturers are also introducing power liftgates in their vehicle models with advancements and innovation, which, in turn, is likely to boost the demand for the power liftgate. Many auto part manufacturers are undertaking technical challenges for the electro-mechanical components to withstand extreme temperatures, vibrations, and shocks for the lifetime of the car. With also making their components compact, energy-efficient, and lightweight.
Key Market Driver -
The rising demand for the luxury vehicles globally is expected to drive the market.
Key Market Restraint -
The configuration cost of the power liftgate is expected to restrain the market growth.
The rising market for luxury vehicles around the globe, owing to the increasing spending of the consumers, is also expected to drive the market over the forecast period. The growing demand for the comfort and reliable driving experience among the consumers is likely to boost the need for a power liftgate. The configuration of the power liftgate in the vehicle is expensive, and this may restrain the growth of the market over the forecast period. Majorly power liftgate is equipped only in high-end luxury cars.
The major players that are present in the global automotive power liftgate market include Faurecia SA (France), Johnson Electric (China), Magna International Inc. (Canada), Continental AG (Germany), Brose Fahrzeugteile GmbH & Co. KG., among others.
Globally, the automotive power liftgate market has been segmented based on the type, material type, vehicle type, and region. Based on the type, the further market has been segmented into the conventional power liftgate and a hands-free power liftgate. The hands-free power liftgate segment is expected to dominate the market over the forecast period. The rising adoption of the advanced technologies in the vehicles owing to the consumers' requirements is driving this segment’s growth in the market. The hands-free power liftgates are adjustable as per the required height and are also more comfortable and convenient for loading and unloading cargo.
Based on material type, further, the market has been segmented into metal power liftgate and a composite power liftgate. The metal power liftgate segment holds the largest account share of the market. The composite power liftgate segment is expected to show good growth in the market. The market for metal power liftgate is anticipated to shift to the composite power liftgate owing to the rising stringent government emission norms leading automakers to curb weight of the vehicle. As compared to metal, the composite material is lightweight and also durable.
Based on vehicle type, further, the automotive power liftgate market has been segmented into passenger cars and commercial vehicles. The passenger car segment accounts for the largest share in the automotive power liftgate market and is also expected to dominate the market over the forecast period. Increased sales and production of passenger cars in developing countries has helped to drive the passenger car segment’s growth in the market. The commercial vehicle segment is also expected to show good growth in this market over the forecast period.
Geographically, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world (RoW). Asia Pacific is also expected to dominate the market over the forecast period owing to factors such as the rising disposable income of individuals and increasing demand for passenger cars with advanced technology from the developing countries.
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Europe is also expected to show good growth in the automotive power liftgate market over the forecast period. The presence of the OEMs in this region is investing heavily in autonomous vehicles, which is driving the market’s growth in this region.
North America is also expected to show good growth in the automotive power liftgate market over the forecast period. The rising market for luxury vehicles and also increasing demand for electric vehicles is likely to propel the market’s growth in this region.
By Material Type
By Vehicle Type
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