Global Power Liftgate Market 2022 to 2031 - Players Include Aisin, Autoease Technology, Brose Fahrzeugteile and Grupo Antolin - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 12, 2023--
The “Power Liftgate Global Market Report 2022” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global power liftgate market.
The global power liftgate market is expected to grow from $2.26 billion in 2021 to $2.49 billion in 2022 at a compound annual growth rate (CAGR) of 10.50%. The power liftgate market is expected to grow to $3.85 billion in 2026 at a compound annual growth rate (CAGR) of 11.51%.
- Aisin Corporation
- Autoease Technology
- Brose Fahrzeugteile GmbH & Co. KG
- Grupo Antolin
- Johnson Electric
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Major players in the power liftgate market are Aisin Corporation, Autoease Technology, Brose Fahrzeugteile GmbH & Co. KG, Grupo Antolin, Johnson Electric, Magna International Inc, Woodbine Manufacturing Co Inc, HI-LEX Corporation, Strattec Security Corporation, Power-Packer Corporation, Mitsuba Corporation, Igarashi Electric Works Ltd, Plastic Omnium Group, Continental AG and Tesla Inc.
The power liftgate market consists of sales of power liftgates by entities (organizations, sole traders, partnerships) that refer to a motorized hatch which opens and closes electronically. Hands-free opening and shutting can be achieved using the digital access system and/or a capacitive kick sensor incorporated into the bumper. The liftgate or trunk can also be opened or closed using the buttons on the lid or the key fob.
The main types of systems in power liftgate market are hands-free and conventional. The hands-free liftgate is a smart feature of power liftgates which allows user to open and close the liftgate of the vehicle with a simple kick of the foot. It is used in two types of vehicles namely passenger vehicle and commercial vehicle and made up of materials such as metal and composite. Power liftgate are sold through sales channel such as OEM and aftermarket.
North America was the largest region in the power liftgate market in 2021. The regions covered in the power liftgate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rise in the adoption of electric vehicles is expected to drive the demand for the power liftgate market. Electric vehicles are automotive vehicles that use one or more electric motors for propulsion. Power liftgates are highly used in electric vehicles. Increasing the use of technology in the automotive industry brings many technological changes to its components and one feature that makes the powered tailgate even more useful is the ability to open the tailgate hands-free.
The electric vehicle increasingly needs components that are auto operated such as a power liftgate, in turn, the increasing adoption of electric vehicles will create more demand for power liftgates.
For example, according to a report by the International Energy Agency (IEA), global electric car sales reached a record 3 million in 2020, a 40% increase from 2019. It is also estimated that there will be 300 million electric cars on the road by 2030, accounting for more than 60% of new car sales by then which was only 4.6% in 2020. Therefore, the increasing adoption of electric vehicles propels the growth of the power liftgate market.
Technological advancement in power liftgates is a key trend gaining popularity in the power liftgate market. Technologically advanced power liftgates include smart or hands-free power liftgates that are powered by sensors, control units, and other functions enabling hands-free opening and closing for convenient use.
Key players are keenly focused on providing these technologically advanced power liftgates to acquire more customers and penetrate the market for additional business. For instance, Brose Fahrzeugteile GmbH & Co. KG, a German automotive supplier offers advanced power liftgate drives that have additional functions such as liftgate drive, sensors, latch with power cinching unit, control unit, and anti-trap protection.
The countries covered in the power liftgate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
For more information about this report visit https://www.researchandmarkets.com/r/fonvjn
View source version on businesswire.com:https://www.businesswire.com/news/home/20230112005586/en/
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SOURCE: Research and Markets
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PUB: 01/12/2023 09:57 AM/DISC: 01/12/2023 09:58 AM