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In-Depth Analysis of the Power Liftgate Market: Growth Opportunities, Key Trends, and Forecast 2025-2034
Power Liftgate Market Forecast
The demand for the power liftgate market is anticipated to surge in line with the increasing uptake of electric vehicles. These are motor vehicles that employ one or more electric motors to provide propulsion. Power liftgates are highly popular in electric vehicles. The growth and incorporation of technology in the automotive industry continue to advance its various components, with the power liftgate's hands-free operation feature standing out. Electric vehicles increasingly require components that function automatically, such as power liftgates. This rising need creates even more demand for power liftgates, thanks to the growing preference for electric vehicles. In fact, the International Energy Agency, an independent intergovernmental organization based in France, reports a 35% year-on-year jump in electric car sales in 2023, with sales standing 3.5 million higher compared to 2022 figures. As such, the escalating acceptance of electric vehicles augments the growth of the power liftgate market.
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What growth opportunities are expected to drive the power liftgate market's CAGR through 2034?
The market size of power liftgates has experienced swift growth in the latest years. It's projected to increase from $3.08 billion in 2024 to $3.44 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 11.7%. Factors such as consumer demand, safety issues, luxury vehicle trends, and regulatory standards have driven growth during the historical period.
The market size of the power liftgate is predicted to experience significant expansion over the following years, with a projected growth to $5.42 billion in 2029, at a compound annual growth rate (CAGR) of 12.0%. The expansion in this forecast period can be accredited to the increasing prominence of electric vehicles and smart connectivity. Key trends during the projected period include customisation trends, material and design advancements, and market broadening.
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What are the emerging trends shaping the future of the power liftgate market?
The upsurge in technological innovations within power liftgates is a critical trend emerging in the power liftgate industry. These innovative power liftgates incorporate smart or hands-free systems that operate using sensors, control systems, and several other functions, facilitating easy and convenient opening and closing. Major players are strategically focusing on creating and providing these technologically innovative power liftgates to gain more clients and broaden their reach in the industry. For instance, Brose Fahrzeugteile GmbH & Co. KG, a German automotive parts supplier, provides advanced power liftgate systems with added features such as liftgate drive, sensors, power-latching unit, a control unit, and safety against unintended shutting.
Which growth-oriented segments of the power liftgate market are leading the industry's development?
The power liftgate market covered in this report is segmented -
1) By System Type: Hands-Free, Conventional
2) By Type: Passenger Vehicle, Commercial Vehicle
3) By Material: Metal, Composite
4) By Sales Channel: OEM, After market
Subsegments:
1) By Hands-Free: Sensor-Activated Liftgates, Gesture-Activated Liftgates, Proximity Key-Activated Liftgates
2) By Conventional: Button-Operated Liftgates, Remote-Controlled Liftgates
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What regions are leading the charge in the power liftgate market?
North America was the largest region in the power liftgate market in 2024. The regions covered in the power liftgate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What companies are at the forefront of innovation in the power liftgate market?
Major companies operating in the power liftgate market include Robert Bosch GmbH, Denso Corporation, Johnson Electric Holdings Limited, Magna International Inc., ZF Friedrichshafen AG, Valeo SA, Aisin Seiki Co. Ltd., Hyundai Mobis Co. Ltd., Continental AG, TRW Automotive Holdings Corp., Parker Hannifin Corporation, NTN Corporation, Thyssenkrupp AG, Mitsuba Corporation, Delphi Technologies PLC, Adient plc, Brose Fahrzeugteile SE & Co. KG, Calsonic Kansei Corporation, Gentherm Incorporated, Kiekert AG, Faurecia SE, SWS Group Inc., Laird PLC, JTEKT Corporation, Visteon Corporation, Hitachi Automotive Systems Ltd., Sona BLW Precision Forgings Ltd., Huf Hülsbeck & Fürst GmbH & Co. KG, Gestamp Automoción S.A
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What Is Covered In The Power Liftgate Global Market Report?
•Market Size Forecast: Examine the power liftgate market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the power liftgate market for a structured understanding.
•Key Players Overview: Analyze major players in the power liftgate market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the power liftgate market.
•Segment Contributions: Evaluate how different segments drive overall growth in the power liftgate market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the power liftgate market.
•Industry Challenges: Identify potential risks and obstacles affecting the power liftgate market.
•Competitive Landscape: Review strategic developments in the power liftgate market, including expansions, agreements, and new product launches.
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