Global Power Liftgate Market | Opportunities Assessment, Trends And Analysis

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Power Liftgate Market Overview:

The Power Liftgate market study gives a complete picture of the competition, including the market share and company profiles of the key competitors in the global industry. The scope of the research includes a thorough investigation of the Power Liftgate Market, as well as the reasons for variations in the industry's growth in various locations.

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Global Power Liftgate Market was valued at USD 3.75 Bn in 2021 and is expected to reach at USD 6.90 Bn by 2029 at a CAGR of 7.9 % over forecast period 2022-2029.

Market Scope:

Post completion of market engineering, which included calculations for market statistics, market size estimations, market forecasts, market breakdown, and data triangulation, thorough primary research was done to acquire information and verify and validate important numbers. To perform market estimating and forecasting for the overall market segments and sub-segments described in this research, both top-down and bottom-up methodologies, as well as multiple data triangulation methods, were widely employed throughout the whole market engineering process. Extensive qualitative and quantitative analysis is also performed on all of the figures obtained during the whole market engineering process in order to provide essential information throughout the report.

Dynamics:

A powered liftgate is a feature of an automobile that prevents the liftgate from opening or closing if the vehicle is too close to an obstruction for the liftgate to move freely. The current invention relates to automobiles with a liftgate that opens upward to provide access to the back of the car, more specifically to a car with a power-driven liftgate opening mechanism. Power liftgate sales are increasing, demand for autonomous and semi-autonomous vehicles is rising, and the automotive industry is increasingly adopting hand-free power liftgate technology, among other factors, which are propelling the market over the forecast period.

Segmentation:

The global power liftgate market is divided into four categories: sales channel, region, vehicle type, and type of system. The hands-free power liftgate held 57.54% of the market by System type in 2019 and is anticipated to maintain this dominance over the forecast period. With the aid of a power hydraulic mechanism, these liftgates are used to speed up the process of lifting heavy objects into trucks by reducing the need for human labour. The adoption of hands-free power liftgates is anticipated to rise over the forecast period because they offer a precise method of latch locking and lack any indication of proper latching on the dashboard panel.

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Key Players:

Major players in the market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top manufacturers; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, CEOs, and marketing executives. The percentage splits, market shares, growth rate, and breakdowns of the global markets are determined by using secondary sources and verified through the primary sources. The biggest players in the Power Liftgate market are as follows:


• Aisin Seiko co., ltd, (Japan)
• Brose Fahrzeugteile GmbH & Co. KG (Germany)
• 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)
• Woodbine Manufacturing Co. Inc. (Tommy Gate) (US)
• STRATTEC (US)
• Robert Bosch GmbH (Germany)
• Continental AG (Germany)
• Stabilus GmbH
• HI-LEX Corporation

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Regional Analysis:

Individual market influencing elements and changes in market laws that influence present and future market trends are also included in the geographical overview of the Power Liftgate market study. Current and future trends are examined in order to assess the entire market potential and uncover profitable trends in order to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.

COVID-19 Impact Analysis on Power Liftgate Market:

Due to a break in operations, end-user sectors where Power Liftgate are used had a decline in growth from January to May in various countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India. This resulted in a large drop in the revenues of firms operating in these industries and, as a consequence, in demand for Power Liftgate manufacturers, affecting the development of the Power Liftgate market in 2020. End-user business demand for Power Liftgate has dropped considerably as a result of lockdowns and a rise in COVID-19 incidents throughout the world.

Key Questions Answered in the Power Liftgate Market Report are:

Which segment had the largest share in the Power Liftgate market in 2021?
What is the competitive landscape of the Power Liftgate market?
Which are the key drivers aiding the Power Liftgate market growth?
Which region has the maximum share in the Power Liftgate market?
What will be the CAGR of the Power Liftgate market during the forecast period (2022-2027)?
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