According to Stratistics MRC, the Global Power Liftgate Market is accounted for $3.24 billion in 2020 and is expected to reach $5.78 billion by 2028 growing at a CAGR of 7.5% during the forecast period. Rising need to improve passenger comfort & convenience, increase in the sale of e-vehicles, and growth in spending on luxury vehicles are the major factors propelling the market growth. However, lack of skilled operators, component reliability issues, and high-cost configuration for the development of power liftgate are hampering the market growth.
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By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to its rise in middle-class people with high living standards that increase automobile sales. Other factors driving the market in the region include the increasing sales of electric vehicles due to the strict emission regulations, growing need to increase customer comfort and convenience, and increasing demand for autonomous vehicles. In addition, relatively relaxed regulations in terms of industrial operations are expected to aid stronger growth for the duration of the assessment period.
Some of the key players profiled in the Power Liftgate Market include Continental AG, Ford Motor Company, General Motors Company, Honda Motor Company, Johnson Electric, Magna International Inc., Meridian Lightweight Technologies, Plastic Omnium Group, Robert Bosch GmbH, Strattec Power Access, Tesla, Toyota Motor Corporation, Trinseo S.A. and Volkswagen Group.
Types Covered:
• Hydraulic
• Electric
System Types Covered:
• Conventional
• Hands-Free Power Liftgate
Products Covered:
• Automatic
• Semi-Automatic
Vehicle Types Covered:
• Passenger Vehicle
• Commercial Vehicle
Sales Channels Covered:
• Original Equipment Manufacturer (OEM)
• Aftermarket
Applications Covered:
• Sports Utility Vehicle (SUV)
• Sedan & Hatchback
• Multi-Purpose Vehicle (MPV)
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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