Automotive Power Liftgate Market expected to reach around USD 5.3 billion in 2032
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Published Via 11Press : In 2022, the global automotive power liftgate market accounted for US$ 1.9 billion and is expected to reach around USD 5.3 billion in 2032. Between 2023 and 2032, this market is estimated to register a CAGR of 11.%.
Automotive Power Liftgate Market refers to the market for power-operated liftgates or tailgates used in vehicles such as cars, SUVs and light commercial vehicles. A power liftgate allows users to remotely open and close the rear liftgate of a vehicle through pressing a button instead of manually lifting and lowering. Most commonly controlled by electric motors controlled through key fob or in vehicle switches;
Automotive power liftgate sales have seen steady gains due to rising consumer interest for advanced safety features and convenience, along with rising popularity of SUVs and crossovers vehicles.
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Key Benefits
- Convenience: One of the main advantages of power liftgates is convenience. Simply by pressing a button or waving their foot, users can effortlessly open and close their rear liftgate or trunk without relying on manual lifting, making loading/unloading cargo much simpler than before.
- Safety: Power liftgates also offer improved safety over manual liftgates, since they can be closed with just the press of a button and do not force users to lean over and strain their back or cause injury when opening/closing it manually.
- Accessibility: Power liftgates can make life easier for individuals with limited mobility or disabilities by eliminating manual lifting requirements – making accessing the rear of your vehicle much simpler for these people.
- Value-added feature: Power liftgates have become an increasingly sought-after value-added feature among car buyers in particular the SUV and crossover segments, and can increase perceived vehicle values while potentially driving sales. Adding one could increase perceived vehicle values significantly as well as potential sales revenue.
- Customization: Aftermarket power liftgate systems offer consumers plenty of customization options. Aftermarket suppliers often sell power liftgate systems that can retrofit onto older vehicle models or be tailored specifically to individual preferences such as adjustable height settings or hands-free operation.
Regional Snapshot
- Automotive Power Liftgate Market has global reach, but Asia Pacific holds the greatest share in terms of market size due to the high vehicle sales across countries like China and India. Urbanization trends as well as consumer preferences for comfort and convenience features fuel demand for power liftgate systems within this region.
- North America and Europe have become key markets for Automotive Power Liftgate systems due to the rising popularity of SUVs and crossover vehicles equipped with power liftgate features, coupled with high disposable incomes and consumer preferences for advanced safety and convenience features which contributes significantly to growth of this sector.
- Further, Middle East and Africa as well as Latin America regions are predicted to experience rapid expansion of the Automotive Power Liftgate Market due to increased investments into automotive sector as well as increasing demands for vehicles with advanced features.
Drivers
- Increased Demand for SUVs and Crossovers: With SUVs and crossover vehicles becoming more prevalent across North America and Europe, their rising popularity is creating increased demand for power liftgate systems as standard or optional features in these vehicles.
- Consumer preference is shifting toward vehicles equipped with advanced safety and convenience features like power liftgates that make loading and unloading cargo simpler, making life simpler for drivers and their cargo alike.
- Aging population: With our global population continuing to age, there has been an increased need for vehicles with accessibility features like power liftgates that can assist seniors and people living with disabilities with better mobility.
- Increased disposable income: With rising disposable incomes comes increasing willingness among consumers to spend on vehicles equipped with advanced features like power liftgates.
- Technological Advancements: Advancements in technology have made implementing power liftgate systems into vehicles much simpler and cost-efficient, driving their uptake further.
- Aftermarket Demand: As consumers look to retrofit existing vehicles with these features, demand for aftermarket power liftgate systems continues to surge.
Restraints
- Automotive power liftgate systems tend to be more costly than their manual counterparts and this higher price could deter customers from purchasing cars equipped with this feature.
- Complexity: Power liftgate systems tend to be more complicated than manual versions, necessitating more maintenance and repairs which could prove more expensive in terms of upkeep costs and repairs.
- Reliability: Power liftgate systems rely on electrical and mechanical components which could fail at any moment, leading to inconvenient or expensive repairs for drivers and passengers alike. Should such an event arise, inconvenience will ensue and costs for repairs could skyrocket rapidly.
- Weight: In general, power liftgate systems tend to weigh more than their manual counterparts and this additional burden may decrease fuel economy significantly.
- Safety Concerns: Power liftgate systems pose serious safety threats if not managed or operated effectively. For instance, improper closing could leave it open during transit and endanger vehicle occupants as well as drivers on the road.
Opportunities
- Increased Demand: With rising sales of SUVs and crossovers that offer large cargo areas comes increased interest for power liftgate systems – creating an opportunity for automotive manufacturers to include these features either standard or as options in their vehicles.
- Convenience: Power liftgate systems make life simpler for drivers and passengers by making opening and closing of liftgates simple with one touch of a button, offering significant convenience that may serve as a major draw to consumers.
- Safety Features: Many power liftgate systems incorporate safety features like obstacle detection that prevent it from closing on objects or people, which is an appealing selling point to consumers who prioritize safety in vehicle purchases.
- Customization: Power liftgate systems can be tailored to the unique requirements of individual customers, meeting any specialized requirements they might have such as opening to specific heights – which might come in handy for drivers parking their car in low ceiling garages.
- Innovation: As automotive power liftgate markets evolve rapidly with each passing day, manufacturers have an opportunity to differentiate themselves by developing and offering cutting-edge features which improve functionality and convenience in power liftgate systems.
Challenges
- Competition: Automotive markets are highly competitive, so manufacturers must work to differentiate themselves from their rivals by constantly striving to set themselves apart from them. This can be challenging for producers of power liftgate systems as many competitors already offer this feature.
- Integration: Power liftgate systems must fit seamlessly into a vehicle's overall design and functionality, creating no disruptions between electrical or mechanical systems that might impede it, such as those found within other cars or boats. To be truly effective, integration requires working alongside all relevant car systems – electrical as well as mechanical!
- Maintenance: Power liftgate systems need regular upkeep in order to continue functioning correctly, which may present customers with extra maintenance obligations with regard to purchasing vehicles with these features. In these instances, customers might hesitate to purchase such vehicles due to any additional maintenance requirements they might face.
- Complexity: Power liftgate systems tend to be more intricate and involve additional components than their manual counterparts, leading to greater costs associated with manufacturing and installation processes.
- Reliability: Power liftgate systems must be reliable and durable due to regular usage in harsh weather conditions and regular usage by drivers and passengers, meaning if one malfunctions it could become inconvenient for driver and passengers and costly to repair; manufacturers of such liftgate systems face an ongoing challenge of assuring reliability for these products.
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Top Impacting Factors
- Vehicle Sales: Power liftgate systems' popularity correlates closely to overall vehicle sales; as SUVs, crossovers and other cargo-carrying models become more widely sold, so too does demand for power liftgate systems increase accordingly.
- Consumer Preferences and Desire for Convenience Features: Rising consumer preferences for convenience features is another driver of automotive power liftgate sales, particularly power liftgate systems which make vehicle use simpler and quicker. As consumers look for vehicles equipped with these convenient systems, automotive power liftgate sales continue to soar.
- Regulations / Safety Standards: Regulations and safety standards have a major influence on the automotive power liftgate market. Manufacturers must make sure their power liftgate systems conform with regional safety requirements that may impact design or cost decisions for systems sold therein.
- Technological Advancements: Technological advancements such as new sensors and motors are having an influence over the automotive power liftgate market growth. Such advancements improve functionality, reliability, safety and consumer appeal of power liftgate systems making them more appealing products to buyers.
- Competition: Automotive manufacturers face strong competition in today's marketplace, so differentiating themselves from their rivals is vitally important to success. When multiple power liftgate systems from different suppliers become available on the market, their availability could have an effect on market shares as well as selling prices of each system offered for sale.
Report Scope
| Report Attribute | Details |
| The market size value in 2022 | USD 1.9 Bn |
| Revenue Forecast by 2032 | USD 5.3 Bn |
| Growth Rate | CAGR Of 11% |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of the World |
| Historical Years | 2017-2022 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Short-Term Projection Year | 2028 |
| Long-Term Projected Year | 2032 |
Recent Development
- Introduction of Hands-Free Liftgate Systems: Recently, several automotive manufacturers have unveiled hands-free liftgate systems which enable drivers to open or close the liftgate without touching it directly or using key fob. Instead, sensors detect foot movement to enable greater convenience and ease-of-use for these liftgate systems.
- Integrating With Smart Home Devices: Some manufacturers are now providing power liftgate systems integrated with smart home devices like Amazon Alexa or Google Assistant for added convenience and accessibility for users. By doing so, this enables the liftgate of their vehicle to be operated from their smart device, giving added access and accessibility.
- Increased Customization Options: Some manufacturers are now providing more customization features for their power liftgate systems, including programming the liftgate to open to a specific height or opening at specific intervals. This enables drivers to tailor the liftgate exactly according to their individual needs and preferences.
Frequently Asked Question
Q: What is the current market size for the Automotive Power Liftgate Market?
A: According to a report by Market.us, the Automotive Power Liftgate Market was valued at USD 1.9 billion in 2022 and is expected to reach USD 5.3 billion by 2032, growing at a CAGR of 11% during the forecast period.
Q: What are the key segments of the Automotive Power Liftgate Market?
A: The Automotive Power Liftgate Market can be segmented based on Type (Passenger Cars, SUVs, Sedans, Commercial Vehicle, Other Cars), Based on Propulsion (Gasoline, Diesel, Electric), Based on the Material Type(Metal Power, Liftgate, Composite Power Liftgate), Based on the System Type(Conventional, Hands-Free Power Liftgate), Based on Sales Channel (OEM, Aftermarket), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
Q: Who are the key players in the Automotive Power Liftgate Market?
A: Some of the key players in the Automotive Power Liftgate Market include Aisin Corporation, Autoease Technology, Brose Fahrzeugteile SE & Co. KG, Continental AG, Hi-Lex Corporation, Huf Hulsbeck & Furst GmbH & Co., Johnson Holdings Limited, Magna International Inc., Stabilus GmbH, Tesla Inc., VOXX Electronics corp., Strattec Security Corporation, Other Key Players.
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