Why Are Automakers Installing Power Liftgates in Economy and Mid-Segment Cars?

Since the COVID-19-induced slump of 2020, vehicle sales have started picking up again, with Organisation Internationale des Constructeurs d'Automobiles (OICA) registering 35,603,497 unit sales during January–June 2021, compared to 27,799,942 unit sales during the same period last year. Though these figures are still lower than the 38,991,568 of January–June 2019, industry experts have rejoiced by the surge in automotive sales in 2021, and they remain hopeful for an even better show next year.

As per P&S Intelligence, the growing vehicle sales will be the key factor behind the growth of the power liftgate market value from around $4 billion in 2020 in the coming years. The power liftgate is a mechanism that opens and closes the backdoor hatch of vehicles, which is why its procurement directly depends on the volume of auto production. Liftgates are not a new feature in automobiles, having being around for almost as long as vehicles with backdoors. However, the traditional technology requires people to turn the key and manually lift the hatch.

Request to Get the Sample Pages: https://www.psmarketresearch.com/market-analysis/power-liftgate-market/report-sample

Another key reason for the rising procurement of such systems by automakers is the booming demand for autonomous vehicles. With the rising incidence of road crashes, which lead to more than 1.3 million fatalities each year, as per the World Health Organization (WHO), countries are taking initiatives to develop autonomous vehicles. The idea is that since most of the road accidents are attributed to human error, taking the driving control away from people will make roads and automobiles safer. Power liftgates are prominently featured in semi-autonomous vehicles, and their usage will grow with the launch of level 4 and level 5 autonomous vehicles in 2023 and 2025, respectively.

Therefore, the fastest power liftgate market advance will be witnessed in Asia-Pacific (APAC) because it already is home to the largest auto sector on earth. Luxury vehicles produced by BMW, Mercedes–Benz, Audi, Lamborghini, and Porsche are already hugely popular among the rich and elite. Moreover, with the masses witnessing an increase in their spending power, auto sales are booming, which is encouraging manufacturers to offer such advanced technologies in their economy and mid-segment cars too.

Hence, with the booming auto sales, the demand for power liftgates will rise.

This study covers
1. Historical and the present size of the Power Liftgate Market
2. Future potential of the market through its forecast for the period 2020– 2030
3. Historical and the present size of the market segments and understand their comparative future potential
4. Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
5. Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
6. Major players operating in the market and their service offerings

Make Enquiry Before Buying the Report: https://www.psmarketresearch.com/send-enquiry?enquiry-url=power-liftgate-market

Market Segmentation by System Type

Hands-Free
Conventional
Market Segmentation by Sales Channel

OEM
Aftermarket
Market Segmentation by Vehicle Type

Passenger Vehicle
Commercial Vehicle
Market Segmentation by Region

North America Power Liftgate Market
By system type
By sales channel
By vehicle type
By country – U.S. and Canada
Europe Power Liftgate Market
By system type
By sales channel
By vehicle type
By country – Germany, France, U.K., Italy, Spain, and Rest of Europe
Asia-Pacific (APAC) Power Liftgate Market
By system type
By sales channel
By vehicle type
By country – Japan, China, India, Australia, South Korea, and Rest of APAC
Latin America (LATAM) Power Liftgate Market
By system type
By sales channel
By vehicle type
By country – Brazil, Mexico, and Rest of LATAM
Middle East and Africa (MEA) Power Liftgate Market
By system type
By sales channel
By vehicle type
By country – Saudi Arabia, South Africa, and Rest of MEA

Market Segment Analysis of Countries
Further breakdown of 16 listed countries will be provided as per below segmentation:
By system type
By sales channel
By vehicle type

P&S Intelligence
Contact: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Follow us on LinkedIn: https://www.linkedin.com/company/pnsintelligence/

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.