Power Liftgate Market is Projected to Witness 9% CAGR by 2025

Pune, India, September 2019, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Power Liftgate Market.

Market Highlights

Power liftgate is designed for an opening and closing of the rear door of an automobiles. The power liftgate system includes drive unit, electronic control unit, actuator, liftgate kit, and anti-pinch strips.

The growing automotive infrastructure from countries such as China, Mexico, Thailand, and Brazil drive the growth of the power liftgate market. Furthermore, technological advancement, growing adoption of IoT and AI, along with sensors in automobiles, and increasing need to improve passenger comfort and convenience are set to drive the growth of this market.  

Drivers: Global Power Liftgate Market 

Market Research Analysis

The global power liftgate market is segmented on the basis of type, vehicle type, sales channel, and region. By type, the market is segmented as conventional and hands-free power liftgate. By vehicle type, the market is segmented as passenger car and commercial vehicle. By sales channel, the market is segmented as OEM and aftermarket.

In terms of region, the global market for the power liftgate is segmented into Europe, Asia-Pacific, North America, and the rest of the world. Asia-Pacific is estimated to hold the highest market share during the forecast period owing to growing electrical and electronics industry across the region. Moreover, increased production and sales of automobiles primarily passenger car and electric vehicles is expected to boost the demand for the power liftgate market in this region. In the Asia-Pacific region, China holds the largest share and is expected to witness the highest growth between 2019 and 2025 owing to the growing per capita disposable income, strengthing economy, large potential consumer base, and presence of major automotive brands such as Chery, BYD Auto, and Brilliance Auto.

North America is estimated to grow at a significant rate in the power liftgate market during the forecast period owing to the growing demand for luxury vehicles and the presence of key players such as Woodbine Manufacturing Co. Inc. and STRATTEC contributing to the growth of this market. The market in Canada is projected to grow at a higher CAGR due to increase in sales of premium SUVs. However, the US is expected to hold the larger share and grow at a steady pace between 2019 and 2025 owing to the growing demand for environment-friendly vehicles, advanced technology, and increasing adoption of rail liftgate in commercial vehicles such as trucks and pick up vans.

In Europe, the power liftgate market is estimated to witness considerable growth over the forecast period due to growing passenger car demand. In Europe, the UK is projected to grow at the highest rate over the forecast period due to the presence of several OEMs such as Rolls-Royce PLC, Aston Martin, and Jaguar. French companies such as Renault, PSA-Opel, and Transdev are investing heavily in autonomous vehicles, which is driving the growth of this market in France. However, Germany, the largest vehicle manufacturer in Europe, accounted for the largest market share in Europe.

Latin America and the Middle East & Africa region are the major contributors to the growth of the power liftgate market in the rest of the world. The Middle East & Africa is projected to grow at a significant rate over the forecast period owing to the growing power liftgate aftermarket service centers in UAE, Saudi Arabia, and South Africa. Whereas, the Latin America region includes Brazil, Argentina, and Mexico, which are promising markets for automotive power liftgate due to growing economy. The key drivers for market growth in Latin America are the rising sales of semi-autonomous cars and increasing purchasing power.

Access Report Details @ https://www.marketresearchfuture.com/reports/power-liftgate-market-8393

Scope of the Report

This study provides an overview of the global Power Liftgate market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the rest of the world. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Power Liftgate market by type, component, vehicle type, sales channel, and region.

• 
  By Type
  
  
  
  • Conventional Power Liftgate
  
  
  • Hands Free Power Liftgate
  
  
  
  

• 
  By Vehicle Type
  
  
  
  • Passenger Car
  
  
  • Commercial Vehicle
  
  
  
  

• 
  By Sales Channel
  
  
  
  • OEM
  
  
  • Aftermarket
  
  
  
  

• 
  By Regions
  
  
  
  • North America 
  
  
  • Asia-Pacific 
  
  
  • Europe
  
  
  • Rest of the World  
  
  
  
  

Key Players

The key players in the global power liftgate market include Faurecia SA  (France), Grupo Antolin Irausa S.A, (Spain), Huf Hülsbeck & Fürst GmbH & Co. KG. (Germany), Johnson electric (China), Magna International Inc., (Canada), Stabilus GmbH (Germany), Aisin Seiko co., ltd, (Japan), Brose Fahrzeugteile GmbH & Co. KG (Germany), Woodbine Manufacturing Co. Inc. (Tommy Gate) (US), STRATTEC (US), Robert Bosch GmbH (Germany), and Continental AG (Germany).