The global power liftgate market is anticipated to grow at a significant CAGR of 8.0% during the forecast period (2022-2028).The major factor expected to drive the market growth is the rising demand for luxury and SUV-style passenger vehicles, integration of connectivity & advanced features, and growth of the improved customer convenience & comfort in vehicles. Furthermore, component suppliers are working intensively on various new technologies for vehicle exteriors with a variety of new functionalities. In addition, some insurance companies offer insurance premium discounts for vehicles equipped with advanced technologies. These are some factors that propel the growth of the global power liftgate market during the forecast period. For instance, in April 2020, Magna International Inc. won the Automotive News PACE Award 2020 for its composite space frame liftgate reinforcement solution, which is employed in Toyota Supra, as this liftgate provides 10% weight savings as compared to a steel liftgate.
A full report of Global Power Liftgate Market is available at:https://orionmarketreports.com/global-power-liftgate-market/107198/
Additionally, by sales channel segment, Original Equipment Manufacturers (OEMs) is expected to hold significant share in the market during the forecast period owing to the rising popularity of sophisticated security measures. The companies are providing a lot of facilities and advanced technologies in their cars as OEMs are focusing on long-term alliances with automobile manufacturers to enhance the quality of the material and design unique systems.
Some major players in the market include Continental AG, Magna International Inc. and Stabilus GmbH, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in 2019, Stabilus GmbH announced that the company is opening a new distribution location in Michigan which was built to provide support for the company’s retail, OE lift, and wholesale power liftgate support products. In addition, in 2019, Magna International Inc. announced the launch of a thermoplastic motorized liftgate for the 2019 Jeep Cherokee SUV from Fiat Chrysler Automobiles. The company added that the design is projected to reduce mass and capital, and tooling costs.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Product Type
- By Vehicle Type
- By Sales Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape-Continental AG, Magna International Inc., and Stabilus GmbH, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Power Liftgate Market Report by Segment
By Product Type
- Automatic
- Semi-Automatic
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
By Sales Channel
- Original Equipment Manufacturers (OEMs)
- Aftermarket
About Us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
Media Contact:
Company Name: Orion Market Reports
Contact Person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
