Power Liftgate Market Overview
What is a Power Liftgate?
A power liftgate is a motorized hatch that opens and closes
electronically. It is typically controlled by a button on the key fob, the
dashboard, or directly on the liftgate itself. This feature is commonly found
in SUVs, minivans, and some larger sedans.
Market Research Future (MRFR) anticipates the power liftgate market 2023 to attain a valuation of more than USD 5 Billion by the year
2025. The projected market growth rate can be 9% between 2023 and 2032, which
is the review period.
Primary Boosters and Main
Barriers
Increasing uptake of sensor-based and electronic components in
vehicles has done wonders for the power liftgate market in recent years. The
surge in technological innovations and constant advancements in the automobile sector
can also offer opportunities to power liftgate manufacturers. Sensing the
opportunity, renowned automobile manufacturers are integrating innovative power
liftgates within their vehicle models, which not only boosts product demand but
can also lead to market expansion in the following years.
An increasing number of auto part manufacturers are striving
to overcome technical issues for electro-mechanical components that can bear
high vibrations, shocks and temperatures throughout the vehicle’s lifetime. They
are also working on making power liftgates more energy-efficient, lightweight
as well as compact. Apart from this, the thriving market for luxury
vehicles in line with the rising purchasing power of consumers can mean
incredible market growth for power liftgates.
Furthermore, the increasing demand for more comfortable and
safe driving experience among consumers drives the need for power liftgate. Increasing awareness among consumers
regarding better quality products and the subsequent hike in the demand for adaptive, self-controlling and smart
power liftgate triggers market growth.
Is a Power Liftgate Worth It?
Whether a power liftgate is worth it depends on your needs and
preferences. Here are some benefits and considerations:
Benefits:
- Convenience:
Easily open and close the liftgate, especially useful when your hands are
full.
- Accessibility: Great
for people with limited mobility or strength.
- Safety: Some
models have sensors to prevent the liftgate from closing on objects or
people.
Considerations:
- Cost: Adds
to the price of the vehicle.
- Maintenance: More
components that could potentially need repairs over time.
What is the Difference Between a Power Liftgate and a Hands-Free
Liftgate?
Both features offer motorized opening and closing, but the hands-free
liftgate adds an extra layer of convenience. Here's the difference:
- Power Liftgate:
Operated by pressing a button on the key fob, dashboard, or liftgate.
- Hands-Free Liftgate:
Operated by making a kicking motion under the rear bumper, which is
detected by sensors, allowing the liftgate to open without using your
hands.
What is a Car Liftgate?
A car liftgate is the rear door or hatch on vehicles like SUVs,
minivans, and hatchbacks that provides access to the cargo area. It can be
manually operated or equipped with power features for added convenience.
Leading Competitors
Robert Bosch GmbH (Germany), STRATTEC (US), Johnson Electric
(China), Grupo Antolin Irausa S.A, (Spain), Stabilus GmbH (Germany), Magna
International Inc., (Canada), Woodbine Manufacturing Co. Inc. (Tommy Gate)
(US), Aisin Seiko Co. Ltd, (Japan), Faurecia SA
(France), Continental AG (Germany), Brose Fahrzeugteile GmbH & Co.
KG (Germany), Huf Hülsbeck & Fürst GmbH & Co. KG. (Germany), are the
leading competitors specified in the report.
Market Segmentation
The market for power liftgate can be considered for type, vehicle
type and sales channel.
The types of power liftgate are conventional as well as hands-free
power liftgate. Out of these,
hands-free power liftgate can generate maximum demand in the market given the
increasing use of the latest technologies in vehicles following the surge in
consumers' needs. These types of power liftgates can be adjusted according to
the required height and are quite convenient for unloading and loading cargo,
which further boost their demand.
The vehicle types described in the report are commercial vehicle
and passenger cars. Passenger cars are
anticipated to be the top segment in the global market for power liftgate, on
account of the boost in the sales as well as production of passenger cars in emerging
countries
The types of sales channels are original equipment manufacturers
or OEM as well as aftermarket.
Regional Insight
The primary markets for power liftgate are Asia Pacific or APAC,
Europe, North America, and the Rest of The World or RoW (which covers MEA or Middle
East & Africa as well as Latin America).
Some of the prime growth boosters in the APAC market include the
increasing disposable income, and the boom in the sales of vehicles like premium,
SUV and luxury cars. The regional market is also presumed to gain at the
fastest rate between 2019 and 2025, on account of the heightened demand for
advanced power liftgates in Japan and China. Other than this, the increasing production
of premium vehicles following the high demand among customers, and the large
number of units belonging to international players in the region gives the
require boost to the power liftgate market.
The growth of the North American market will be the result of the
escalating demand or eco-friendly vehicles, rising use of rail liftgate in commercial
vehicles, and the surge in rental services for power liftgate trucks. Additionally,
some of the most well-known electric tailgate lift manufacturers are
headquartered in the region, such as Magna International Inc. and Tommy Gate,
which also adds to the market strength.
The South American and the MEA market are touted to perform
decently in the coming years, among which South America can note better growth
due to the rapid uptake of hands-free liftgates in vehicles. Countries like Argentina,
Colombia and Brazil are some of the top performers in the South American
market, courtesy rising urbanization as well as government initiatives that
push the growth of the automotive industry. On the other hand, the expanding power
liftgate aftermarket in Saudi Arabia, South Africa and the UAE leads to market
growth in MEA.
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