Press release
Rapidly Growing Power Liftgate Market: Expected to Reach $5.42 billion by 2029, Driven by Electric Vehicles and Smart Connectivity Trends
Power Liftgate Market
What Is The Projected Market Size Of The Global Power Liftgate Market And Its Growth Rate?
• The global power liftgate market size, which was $3.08 billion in 2024, is predicted to increase to $3.44 billion in 2025, reflecting a compound annual growth rate (CAGR) of 11.7%.
• Factors contributing to this growth include consumer demand, safety concerns, luxury vehicle trends, and regulatory standards.
• By 2029, the market is projected to be worth $5.42 billion, growing at a CAGR of 12.0%.
• The adoption of electric vehicles and the rise of smart connectivity are expected to drive this anticipated growth.
What Is Driving The Growth In The Power Liftgate Market?
The rise in the adoption of electric vehicles (EVs) is a significant factor driving the growth of the power liftgate market. Power liftgates are increasingly being used in EVs as more auto operated components are needed. The electric vehicle market experienced a 35% increase in sales from 2022 to 2023, according to the International Energy Agency. This increase has consequently led to a rise in demand for power liftgates, propelling market growth.
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Who Are the Key Players Driving Power Liftgate Market Growth?
The following companies are major players in the power liftgate market:
• Robert Bosch GmbH
• Denso Corporation
• Johnson Electric Holdings Limited
• Magna International Inc.
• ZF Friedrichshafen AG
• Valeo SA
• Aisin Seiki Co. Ltd.
• Many more
What Are The Key Trends In The Power Liftgate Market?
Key trends in the power liftgate market include:
• Customization trends
• Innovations in material and design
• Market expansion
What Are The Segments Of The Global Power Liftgate Market?
The power liftgate market can be segmented into:
1) System Type: Hands-Free, Conventional
2) Type: Passenger Vehicle, Commercial Vehicle
3) Material: Metal, Composite
4) Sales Channel: OEM, Aftermarket
Which Region Leads The Power Liftgate Market?
North America was the largest region in the power liftgate market in 2024. However, the market spans several geographical regions, including Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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What Is Covered In The Power Liftgate Market Global Market Report?
- Market Size Analysis: Analyze the Power Liftgate Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Power Liftgate Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Power Liftgate Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Power Liftgate Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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