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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Automotive Power Liftgate Market Outlook
The global automotive power liftgate market stood at a value of around USD 2.34 billion in 2023. The market is further expected to grow at a CAGR of 14% in the forecast period of 2024-2032 to attain a value of USD 7.51 billion by 2032.
Heightened Demand for Hands-free Power Liftgate to Bolster the Market Growth of the Global Automotive Power Liftgate Industry
Based on type, the hands-free power liftgate segment is predicted to hold a healthy market share in the automotive power liftgate industry. This growth can be attributed to the increased deployment of automotive power liftgates that can be controlled remotely or hands-free to open and close rear doors in a variety of vehicles, as the demand for passenger comfort in automobiles surges. The hands-free power liftgates offer the convenience of cargo loading and unloading.
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Meanwhile, the demand for composite power liftgate, based on material type, is also predicted to increase owing to its lightweight and durable nature. This is expected to contribute to the overall industry growth in the forecast period.
The Asia Pacific to Offer Lucrative Growth Opportunities to the Global Automotive Power Liftgate Industry
The Asia Pacific is estimated to occupy a considerable share of the automotive power liftgate industry in the forecast period. This growth can be attributed to the increased demand for passenger vehicles in the region, with the growing population. In addition, the rising disposable incomes and the improved living standards are also expected to contribute to the market growth. Moreover, the presence of the leading market players in the region is projected to contribute to the market growth. Meanwhile, the automotive power liftgate industry in Europe is also predicted to witness an increased growth due to the increased investments by OEMs in the automotive industry.
Automotive Power Liftgate: Market Segmentation
Automotive power liftgates are devices that enable vehicle drivers to open the rear door with the push of a button that is available on the key fob and inside the car. These are motorised hatches that can be controlled electronically and allow for hands-free usage. In addition, with the use of sensors, the tailgates can sense any obstructions in their way and close at a safe speed. Also, the gates offer height adjustments, making it easy for users to reach the closing or opening button.
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By type, the market is bifurcated into:
- Conventional Power Liftgate
- Hands-free Power Liftgate
On the basis of vehicle type, the market can be divided into:
- Hatchback
- Sports Utility Vehicle
- Sedan
- Others
Based on material type, the industry can be segmented into:
- Metal
- Composite
On the basis of sales channel, the market can be distributed into:
- OEM
- Aftermarket
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Increased Demand for Passenger Vehicles to Aid the Global Automotive Power Liftgate Industry
The heightened demand for passenger vehicles worldwide is projected to propel the market growth in the forecast period. This can be attributed to the rising global population and their subsequent transportation requirements. In addition, the rising disposable incomes and improved living standards are also projected to contribute significantly towards the market growth. Moreover, the rapid technological advancements and the growing investments by the leading market players in the research and development of automotive power liftgates are also expected to aid the industry growth. These factors are estimated to positively impact the market growth in the forecast period.
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Key Industry Players in the Global Automotive Power Liftgate Market
The report gives a detailed analysis of the following key players in the global automotive power liftgate market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Faurecia SE
- Magna International Inc.
- Huf Group
- Strattec Security Corporation
- Woodbine Manufacturing
- Autoease Technology
- Brose Fahrzeugteile
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Vehicle Type |
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| Breakup by Material Type |
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| Breakup by Sales Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global automotive power liftgate market attained a value of nearly USD 2.34 billion.
The market is projected to grow at a CAGR of 14% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 7.51 billion by 2032.
The major drivers of the industry such as the increased accessibility to demand for passenger comfort in cars, rapid urbanisation, rising disposable incomes, and the rising investments in the research and development of automotive power liftgates technology by the leading manufacturers are aiding in the market growth.
The key market trends guiding the growth of the industry include the increasing demand for passenger vehicles and the rapid technological advancements.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant types include conventional power liftgate and hands-free power liftgate.
The major vehicle types include hatchback, sports utility vehicles, and sedan, among others.
The major material types include metal and composite.
The significant sales channels include OEM and aftermarket.
The major players in the industry are Faurecia SE, Magna International Inc., Huf Group, Strattec Security Corporation, Woodbine Manufacturing, Autoease Technology, and Brose Fahrzeugteile, among others.
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