Press release
Automotive Liftgate Market to grow strongly by 2024 | Leading Players are Magna International, General Motors, Toyota, Honda Motor, HIAB, Says Group, Pal finger, Zero, Fiat Chrysler, Plastic Omnia
Automotive Liftgate Market
Automotive Liftgate Market is available in two types including, metals and composites material. Composites accounts for higher market share due to its light weight property. Based on its types they are bifurcated into conventional, rail type, side loader and tuck away. Convectional gateways are most functional due to its high storage capacity and light weight. They are used in various applications such as trucks, SUV, van and minivan.
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Increasing demand for SUV’s has positively influenced automotive liftgate market. Higher ground clearance, softer ride, increasing off road capacity and higher seating position has accelerated the product demand. SUV is a combination of car, power and functionality of utility vehicle, it offers more space, comfortable seats and attractive appearance. Diverse features and various characteristics drives the demand for SUV in the automobile sector.
Transportation infrastructure investment is projected to rise at over 4% in near future, efficient connectivity and flexibility in mobilization has drove the demand. Road will remain biggest investment area in the forecast time, this is due to rise in propensity and vehicle ownership in all the countries. Urbanization, digitalization and trend towards larger fleets has surged demand for heavy vehicles therefore positively influenced automotive liftgate market.
Various disadvantages of using truck such as expensive for long hauls and bulky commodities. It is highly affected by the climatic condition and restrictions imposed by states regarding size and weight of the cargo. Other factor hindering the growth of automotive liftgate market is road transportation. Frequent accidents, inadequate roads, heavy taxes, poor maintenance of roads and rising price of petrol and diesel.
Top Key Players:-
The key players of global Automotive Liftgate Market are HIAB, Says Group, Pal finger, Zero, Fiat Chrysler, General Motors Company, Magna International, Plastic Omnia Group, Toyota Corporation and Honda Motor Company.
Regional Segmentations:-
Growing demand for commercial vehicle has boosted automotive liftgate market in Asia Pacific. Japan and Switzerland have most efficient road transport infrastructure. Advance technology, road connectivity and infrastructure are several factors that drives demand for this region.
Europe is highly flourishing region for the product, it manufacturers highest number of trucks in the world. It hosts many big truck manufacturing companies such as Mercedes, Invesco and Grebe. Its focus in on manufacturing superior quality product that are efficient, secure and environment friendly. With increasing demand and manufacturing of trucks, automotive liftgate market is simultaneously growing.
North America dominated by the U.S. produces largest number of SUV’s worldwide. SUV’s are considered light trucks in the country, they are regulated less strictly. Light trucks in the region is highly used for carrying goods and heavy commodities. Rising demand and investment on SUV’s has propelled growth of automotive liftgate market.
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High usage in carrying goods & materials and providing door to door services are some of the factor that drives automotive lift gate. Trucks can carry huge amount of cargo in any form, numerous sizes and shapes of vehicle has given flexibility. Growing advantages of truck usage has uplifted its demand and consumption in different industries.
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