Hands-Free Power Liftgate Market Expected to reach $ 1,490.96 Million, Globally, by 2023

According to a new report by Allied Market Research, titled, Hands-free power liftgate Market by Type and Application: Global Opportunities Analysis and Industry Forecast, 2017-2023, the global hands-free power liftgate market was valued at $ 1,069.06 million in 2016, and is projected to reach at $ 1,491 million by 2023, growing at a CAGR of 5.0% from 2017 to 2023.

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Hands-Free Power Liftgate is a back-door system, the user of the vehicle controls the liftgate/tailgate opening and closing through the key located on the dashboard or through handheld remote device.

In 2016, semi-automatic segment dominated the market, in terms of revenue, due to increase in demand for luxurious vehicle.

Asia Pacific was the highest revenue contributor to the hands-free power liftgate market in 2016, accounting for around 32.00% share, due to rise in adoption of sensors and electronic based system/components across the automotive sector.

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Key Findings of the Hands-free Power Liftgate Market:
•The semi-automatic segment accounted for the highest share in 2016, growing at a CAGR of 4.6% from 2017 to 2023.
•Passenger cars application generated the highest revenue, accounting for $789.64 million in 2016.
•Asia pacific is expected to dominate the market, in terms of market share, during the forecast period.

The report features a competitive scenario of the hands-free power liftgate market and provides a comprehensive analysis of the key growth strategies adopted by major players. The key players in the global market are Aisin Seiko co.ltd, Autoease Technology, Brose Fahrzeugteile GmbH & Co.KG, Faurecia SA, Grupo Antolin Irausa S.A, Huf Hlsbeck & Frst GmbH & Co. KG, Johnson electric, Magna International Inc., Stabilus GmbH, tommygate.

These players have adopted various competitive strategies such as innovation, new product development, and market expansion to boost the growth of the market.

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

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