The Automotive Liftgate Market to experience an impressive growth to reach US$ 5.2 billion during 2018-2023

Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Automotive Liftgate Market, answers all the important questions.

Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Automotive Liftgate Market

The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2018-2023.

The important questions the report answers are:
1. What will be the market growth rate in the near future?
2. What are the major developments in the market wrt regulations, acquisitions and innovations?
3. What are the growth drivers as well as the constraints?
4. What are the regional growth hotspots?
5. What are the segmental growth forecasts?

These questions and many more, big and small, are all discussed in the report in great detail.


The strategic Market dissection

The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.

Dissection by
1. Vehicle Type (Passenger Car, Light-Duty Commercial Vehicle, Medium- and Heavy-Duty Commercial Vehicle)
2. Material Type (Metal Liftgates, Composite Liftgates)
3. Process Type (Stamping, Compression Molding, Injection Molding)
4. Region (North America, Europe, Asia-Pacific and RoW)

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The Growth Prognosis & its Drivers

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 Key players

The top players are Toyota Motor Corporation, General Motors, Plastic Omnium, and Magna International.

The undisputed Dominance of the Asia-Pacific

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.

Emerging Trends: 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.

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.

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