Global Automotive Liftgate Market to see Huge Growth by 2028

The global automotive liftgate market is anticipated to grow at a CAGR of 12.5% during the forecast period (2022-2028). For shutting and opening the tailgate, an automotive liftgate consists of a mechatronic assembly that includes electronic latches, carrier components, and occlusions. Growth in demand for electronic and sensor-based components in automobiles is expected to fuel the automotive liftgate market. Furthermore, automotive liftgate manufacturers are expected to benefit from increasing technological breakthroughs and innovation in the vehicle industry. Moreover, as a result of technology advancements and innovation, various automobile manufacturers are including automotive liftgates into their vehicle models,that is likely to enhance demand for the automotive liftgate.

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The expanding global market for luxury automobiles, as a result of rising consumer spending, is expected to move the market forward during the forecast period. The demand for an automotive lift is expected to rise as consumers seek a more pleasant and reliable driving experience. The cost of installing an automotive liftgate in a vehicle may limit market growth over the projection period. Automotive liftgates are often found only in high-end luxury vehicles. In the forecasted period, the rising demand for SUVs in the global market will be a major driver for the automotive liftgate industry. Due to the increased production of automobiles in the upcoming years, significant expansion of the automobile industry is supporting the growth of the automotive liftgate throughout the projection period. In addition, the government's strict restrictions for decreasing car weight have boosted demand for lightweight automotive liftgates.

Automatic liftgates are becoming the normal option with the latest introductions of SUVs. For instance, the 2019 Jeep Cherokee features a revised lightweight composite liftgate that opens with a kicking motion under the bumper for customer convenience. Additionally, all Escalade models come equipped with an automated tailgate in the 2019 Cadillac Escalade luxury SUV. The occupant can easily open and close it by kicking it under the back bumper. The need for automotive liftgates is likely to rise as the number of electric vehicles on the road increases. Manufacturers of electric vehicles place a premium on safety and innovative features such as an automatic liftgate system. For instance, in February 2022, Tesla has released a new automated electric tailgate for the Model 3, that can be upgraded at authorized Tesla service locations.

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Market Coverage

The market number available for - 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Vehicle Type
By Material Type
By Process Type
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- General Motors, Magna International Inc., Meridian Lightweight Technologies, Plastic Omnium, among others.

Key questions addressed by the report

What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?

Global Automotive Liftgate Market Report by Segment

By Vehicle Type

Hatchback
SUV
Others

By Material Type

Metal Liftgate
Composite Liftgate

By Process Type

Stamping
Compression Molding
Injection Molding

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This release was published on openPR.