Power Liftgate Market To Witness Significant Growth

According to a report by a market research institution, P&S Intelligence, the power liftgate market continues to grow with the advancement in automotive technologies.

Based on system type, the hands-free category will witness the faster growth in the industry over this decade. Auto manufacturers all across the globe are integrating modern features in their vehicles to offer more convenience to customers.

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Based on vehicle type, the passenger vehicle category will dominate the power liftgate market over this decade. This is mainly credited to the rising demand for luxury vehicles because of the increasing disposable income and standards of living of the middle class. Luxury cars often come with features such as advanced sensor systems, liftgate lock systems, and automatically opening & closing doors.

APAC will witness the fastest growth in the years to come, owing to the increasing disposable income, growing standards of living, and rising sales of cars. The growth in the region is also driven by the increasing demand for autonomous vehicles, a range of electronic components/devices in automobiles, and e-vehicles, because of the strict emission regulations, the necessity to increase customer comfort & convenience, and the introduction of the hands-free power liftgate technology.

The major factors driving the growth of the industry are the increasing concern for vehicle and passenger safety and the rising need for easy driving. Due to this, manufacturers are developing advanced technology to enhance road safety and produce intelligent transportation systems, for instance, self-driving and the advanced driver-assistance systems.

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Some of the other key players in the industry are Huf Hulsbeck & Furst GmbH & Co. KG, Continental AG, Johnson Electric Holdings Ltd., VOXX Electronics Corp., Autoease Technology, Powder-Packer Corp., Strattec Security Corporation, Stabilus GmbH, Mitsuba Corporation, Magna International, HI-LEX Corporation, and HUF Group.

Due to the increasing demand for autonomous vehicles, growing implementation of hand-free liftgate technology, and increasing need to enhance passenger comfort, the power liftgate industry will continue to grow significantly in the years to come.

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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This release was published on openPR.