Press release
Automotive Liftgate Market Globally Expected to Drive Growth through 2028
An automotive liftgate is a hydraulic device that automatically operates and assists the tailgate for opening and closing purpose. Automotive liftgate assembly is controlled by a button provided on the car’s dashboard. Also, a sensor attached at the rear bottom of the car’s bumper can be accessed using simple gestures for opening and closing the automotive liftgate. Automotive liftgate comprises of a mechatronic assembly consisting latches of electric components, carrier components, and occlusions for closing and opening of the tailgate.
Automotive Liftgate Market: Dynamics
With the growing demand for SUVs in the global market has been a prominent driver for automotive liftgate market in the forecast years. Significant growth of automobile industries is stimulating the growth of automotive liftgate over the forecast period owing to the increased production of vehicles in the coming years. Also, the government stringent regulations for reducing the weight of cars has increased the demand for the lightweight automotive liftgate. These factors will lead the automotive liftgate market towards considerable growth over the forecast period.
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Furthermore, with the increasing demand for automotive liftgate for the automotive world will take the global automotive liftgate market towards rapid growth in the forecast period. The increase in manufacturing activities in developing countries, such as India and China, will create a high opportunity for automotive liftgate across these countries over the forecast period. High prices and high shipment cost of automotive liftgate may hinder the global market for the automotive liftgate.
Automotive Liftgate Market: Segmentations
The global automotive liftgate market is segmented on the basis of material type, by vehicle type, by the manufacturing process and by region. On the basis of material type, automotive liftgate is segmented as Metal Liftgate and Composite Liftgate. Metal liftgate will remain to dominate composite liftgate in the global automobile market. Apart from metal liftgate, composite liftgate is likely to witness high growth in the forecast period. On the basis of vehicle type, automotive liftgate market is segmented as Hatchback, SUVs and other cars.
In this segmentation, SUVs will have an upper hand due to increasing demand and production is estimated in the forecast period. On the basis of the manufacturing process, global automotive liftgate is segmented as Stamping, Injection Molding and Compression Molding. Stamping will remain to dominate another process in the global automotive liftgate market. Besides, injection molding will also gain considerable growth in the forecast period. On the basis of region, the global automotive liftgate market is segmented by North America, Latin America, Europe, APEJ, and Japan.
Automotive Liftgate Market: Prominent Players
Prominent players for the global automotive liftgate market are Honda Motor Company, Toyota Corporation, General Motors Company, HIAB, Zero, Fiat Chrysler, Says Group, Pal finger, Magna International, Plastic Omnia, and other prominent players. Besides, key market players are focusing on developing countries to supply the liftgate that will help to capture significant revenue share in the global automotive liftgate market.
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Automotive Liftgate Market: Regional Overview
The global liftgate market is segmented into five regions: North America, Latin America, Europe, APEJ, and Japan. APEJ is expected to contribute vigorous growth to the global automotive liftgate market coupled with high production of SUVs production share, which is driving the liftgate market. China is the major market of APEJ market for automotive liftgate market. India will be the growth engine with ample number opportunities for automotive industry in the forecast period.
Europe is the second largest market for automotive liftgate and continues to remain a prominent region for liftgate market. Germany is a major market for automotive liftgate with a maximum number of vehicle production per year. France and Russia will also show considerable growth in the global automotive liftgate market. North America will also have a sizable market for automotive liftgate with the United States as the major contributor. Mexico, with an increasing number of automotive plants is estimated to have growth for automotive liftgate in the forecast period.
Automotive Liftgate Market: Competitive Analysis
The conflict among the existing market players is extraordinary. Therefore, to survive and succeed in such a background, makers and suppliers have to provide the product at really aggressive pricing. This competitive environment also leads to a cut in the price of the product to retain their market position, which can also negatively affect the profit margin of the manufacturers. Apart from this, the e-commerce website also increases the competitive atmosphere by offering discounts.
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The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, type, application, and end use.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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