Automotive Liftgate Market is Likely to be a US$ 5.2 Billion opportunity in 2023
This market report, from Stratview Research, studies the liftgate market in the global automotive industry over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The Global Automotive Liftgate Market: Highlights
The next five years for the global automotive liftgate market are going to be vigorous with sizeable growth opportunities in the entire ecosystem of the market. As per Stratview Research, the market is estimated to grow at a healthy rate over the next five years to reach an estimated value of US$ 5.2 billion in 2023. Organic growth in automobile production owing to increasing disposable income and growing urbanization, increasing share of SUVs production, and increasing demand for lightweight liftgates to reduce the overall vehicle weight for achieving stringent government regulations, such as CAFÉ Standards are major growth drivers of the global automotive liftgate market.
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The author of the report cited that SUV is expected to remain the growth engine of the market during the forecast period. Increasing production of SUVs, especially in the Asia-Pacific region and high demand for comfort and space in vehicles would continue to drive the segment’s growth over the next five years.
Based on the material type, metal liftgate is projected to remain more dominant over the next five years, whereas composite liftgate is likely to witness higher growth rate in the same period. Continuous shift from metal to composites is due to several factors in which the most important one is government regulations to increase fuel efficiency or reduce emissions. Auto industry is rapidly moving towards lightweight materials, such as sheet molding compound and long-fiber reinforced thermoplastics, to make the final component light in weight without sacrificing the overall liftgate performance.
Stamping is expected to remain the most dominant manufacturing process over the next five years, whereas injection molding is likely to be the fastest-growing process. Injection molding offers many benefits over competing processes, such as low part cycle time, ability to manufacture complex products, recyclability, good surface finish, lightweight, and excellent strength to weight ratio. Nissan Rogue, Peugeot 308, and BMW i3 & i8 are some of the major auto models which are using injection-molded thermoplastic composite liftgates.
In terms of region, Asia-Pacific is expected to remain the largest liftgate market during the forecast period. The region is also expected to experience the highest growth in the same period. Whereas, Europe is expected to remain the second largest market in the same period, driven by Germany, France, and Russia. Germany is likely to maintain its lead in the region’s market in the coming five years.
Major liftgate manufacturers are Toyota Motor Corporation, General Motors, Plastic Omnium, and Magna International. Development of lightweight composite liftgates, execution of mergers & acquisitions, and formation of long-term contracts with OEMs are the key strategies adopted by the major players to gain a competitive edge in the market.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors
The global automotive liftgate market is segmented into the following categories.
By Vehicle Type
• Hatchback (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• SUV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Material Type
• Metal Liftgates (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Composite Liftgates (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Manufacturing Process Type
• Stamping (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Compression Molding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Injection Molding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, Spain, the UK, Russia, Czech Republic, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)
About Stratview Research
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.
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