‘Automotive Liftgate Market to become US$ 5.2 billion opportunity in 2023– Stratview Research Market Report

As per the latest market intelligence report published by Stratview Research, the Automotive Liftgate Market is anticipated to reach at US$ 5.2 billion by 2023.

The research studies Automotive Liftgate Market in the trend period of 2012 to 2017 and forecasted period of 2018 to 2023 under four segments by Vehicle Type (Hatchback, SUV, and Others), by Material Type (Metal Liftgates and Composite Liftgates), by Manufacturing Process Type (Stamping, Compression Molding, and Injection Molding), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023

The study finds –
 Asia-Pacific to remain the largest automotive liftgate market during the forecast period. The region is also expected to experience the highest growth during the same period.
 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 during the same period.
 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.
 SUV to remain the growth engine of the market.

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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. 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 market.

It is estimated that approximately 638.7 million vehicles (passenger cars, LCV, and M&HCV) are likely to be produced globally during the next six years (2018-2023). This corresponds to significant growth opportunities for the market stakeholders to tap the growth potential in the coming years.
The market is segmented based on the vehicle type as Hatchback, SUV, and Others. SUV is expected to remain the growth engine of the market during the forecast period of 2018 to 2023. 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.

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Based on the material type, the market is segmented as Metal Liftgates and Composite Liftgates. 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. Stringent regulations imposed by governments of many countries are putting pressure on the automakers to curb the overall vehicle weight to increase fuel efficiency or reduce emissions. Liftgates could not escape itself from such regulations and experienced a significant change in the selection of materials over the period. The 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.

The market is segmented based on the manufacturing process type as Stamping, Injection Molding, and Compression Molding. 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 during the same period. 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 liftgate.

Based on regions, Asia-Pacific is expected to remain the largest automotive liftgate market during the forecast period. The region is also expected to experience the highest growth during the same period. Increasing automobile production coupled with increasing SUV's production share is driving the demand for liftgates in the region. China and Japan are likely to remain major markets in the region. India is likely to be the new growth engine of the region’s demand for automotive liftgates in the coming five years.
Europe is expected to remain the second largest automotive liftgate 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. France and Russia are also likely to generate sizeable growth opportunities for the players in the coming years.

North America, another sizeable market, is also likely to offer favorable growth opportunities in the coming five years. The USA is likely to remain the largest market in the region, whereas Mexico is likely to be the fastest-growing market in the region in the coming five years, driven by the opening of assembly plants of all the major automakers to fulfill the growing local demand and target exports to the USA.

Major automotive liftgate manufacturers are Toyota Motor Corporation, General Motors, Plastic Omnium, and Magna International.

Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum input to the entire value chain of BMI Prepreg. The key features of the report are -
 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.

Stratview follows a rigorous process for conducting business research from primary and secondary sources to understand the entire market ecosystem. It has several high value market reports in the chemicals and materials industry. Please refer to the following link to browse through the reports:

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