Automotive Power Liftgate Market Estimated to Soar Higher During 2018 to 2028 // key player like - Strattec Security Corporation, Stabilus GmbH, Power-Packer Corporation, Mitsuba Corporation, Magna International, Johnson Electric
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Automotive power liftgate is a back-door system and the user of the vehicle controls the lift gate/tailgate opening and closing with the press of a key located on the dashboard or handheld remote. Automotive power liftgates offer intelligent anti-trap and height memory function, among other functions. The automotive power liftgate is a hand-free system and can also be operated remotely. In automobiles, doors are quite different in design from one manufacturer to the next and even from one car model to another; however, the mechanism of the automotive power liftgate remains the same. Automotive power liftgates have good anti-corrosion properties, which in turn ensures the long life and proper working of back doors.
With continuous growth in the automobile sector, the automotive power lift gate market is also pegged to register significant growth globally. Upcoming technologies and innovations in the automotive industry such as a hand-free system for the opening and closing of back doors, will drive the automotive power lift gate market. Moreover, some insurance companies offer insurance premium discount for vehicles equipped with advanced technologies. This factor is anticipated to propel the growth of the automotive power liftgate market.
Manufacturers face several challenges, owing to the presence of numerous competitors in the automotive sector. This competition further intensifies with new ideas that lead to innovative product launches. Additionally, the initial cost of these system is also high, which increases the cost of the vehicle, which can hamper the growth of the automotive power liftgate market.
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In the coming years, Original Equipment Manufacturers (OEMs) are aiming to provide advanced technology systems in vehicles, which is a prominent driver for the automotive power liftgate market. Moreover, OEMs are also focusing on forging long-term alliances with automobile manufacturers in order to enhance the quality of the material used and to design unique systems. This factor is expected to drive the automotive power liftgate market in the coming years.
Asia Pacific is expected to contribute a considerable share throughout the forecast period, owing to the increasing disposable income of the middle class population in the region along with high living standards and increasing automobile sales. These factors are estimated to boost the demand for automotive power liftgates in the coming years. Europe also holds a prominent share of the automotive power liftgate market due to the large number of automobile manufacturers in the region. Furthermore, North America is expected to dominate the automotive power liftgate market, owing to the increasing demand for luxury vehicles in the U.S. and Canada. Latin America, Middle East and Africa are projected to witness a surge in the demand for automobiles, owing to increasing urbanization and economic growth, which in turn will accelerate the growth of the automotive power liftgate market during the forecast period.
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, application, and industry.
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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