Press release
Top Market Shifts Transforming the Power Tailgate System Market Landscape: Key Insights
Power Tailgate System
What Is the Expected CAGR for the Power Tailgate System Market Through 2025?
The market for power tailgate systems has experienced robust growth in the past few years. The market size is expected to increase from $3.2 billion in 2024 to $3.49 billion in 2025, boasting a compound annual growth rate (CAGR) of 9.0%. The significant growth seen during the historic period can be credited to amplified emphasis on improving convenience and user interaction. The rising demand for intelligent, adaptive, and self-regulating power liftgates, the need for power tailgates in passenger and commercial vehicles, an increasing requirement in the automotive industry, and a heightened focus on comfort and convenience have all contributed to this growth.
What's the Projected Size of the Global Power Tailgate System Market by 2029?
In the forthcoming years, the market size of the power tailgate system is predicted to experience robust growth, potentially reaching $4.91 billion in 2029 with an 8.9% compound annual growth rate (CAGR). Factors driving this projected growth during this period include the increasing transition towards electric vehicles, vehicle electrification and hybridization, the surging demand for autonomous features, and the inclusion of smart elements. Significant trends forecasted for this time frame consist of the incorporation of artificial intelligence (AI), technological breakthroughs within the automotive sector, advances in vehicle sensor technology, progression in electric motor technologies, and ground-breaking drivetrain technologies.
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Top Growth Drivers in the Power Tailgate System Industry: What's Accelerating the Market?
The power tailgate system market is predicted to flourish due to the expanding appeal for electric vehicles. These electric vehicles, energized solely by electric energy stored in batteries or a blend of an internal combustion engine and an electric motor, are sought after because of their contribution to reducing greenhouse gas emissions, cutting fuel costs, and complying with tighter environmental rules, all while supporting energy-efficient and sustainable transport. Power tailgate systems, which electric vehicles utilize, offer improved convenience by automating the process of opening and closing the trunk using the vehicle's electrical system. For example, in March 2023, the French International Energy Agency reported a surge in the electric car market, with sales exceeding 10 million in 2022. Electric cars comprised 14% of all new car sales in 2022, marking a notable increase from around 9% in 2021. Hence, the escalating preference for electric vehicles propels the power tailgate system market.
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What Trends Will Shape the Power Tailgate System Market Through 2029 and Beyond?
Leading businesses in the power tailgate system market are centered around evolving groundbreaking solutions like smart electric tailgate actuators to augment vehicle comfort, heighten user safety, and aide in flawless hands-free access, while diminishing energy utilization and enhancing the overall vehicle effectiveness. These smart electric tailgate actuators are state-of-the-art elements that aid in the automatic, hands-free operation of vehicle tailgates, promising an increased level of convenience, safety, and efficiency in contemporary automobile systems. For example, ZHAOWEI, a company based in China known for producing power transmission systems and gearboxes, introduced a smart electric tailgate actuator tailored for the automotive sector in May 2024. This new-age product has been designed to improve the convenience and safety aspects of power tailgate systems in vehicles. It incorporates an improved gearbox and control line design, contributing to a boost in torque output and a reduction in noise levels during usage. The electric tailgate actuator utilizes an electric spindle motor to manipulate the opening and closing of the trunk lid spring, it also facilitates in lifting the trunk cover.
What Are the Main Segments in the Power Tailgate System Market?
The power tailgate systemmarket covered in this report is segmented -
1) By System Type: Conventional, Hands-Free Power Liftgate
2) By Component: Electric Motors, Control Modules, Sensors, Wiring Harnesses, Struts Or Shocks, Door Locks, Other Components
3) By Propulsion: Internal Combustion Engine (ICE), Electric
4) By Vehicle Type: Passenger Car, Commercial Vehicle, Heavy Vehicles
5) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Subsegments:
1) By Conventional Power Liftgate: Electric Liftgate, Hydraulic Liftgate, Pneumatic Liftgate, Manual Override Options
2) By Hands-Free Power Liftgate: Sensor-Based Systems, Kick Sensors, Remote Keyless Entry Systems, Mobile App Control Systems
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Which Top Companies are Driving Growth in the Power Tailgate System Market?
Major companies operating in the power tailgate system market are Robert Bosch GmbH, Continental AG, Magna International Inc., Aisin Seiki Co. Ltd., Brose Fahrzeugteile SE & Co. KG, Johnson Electric Holdings Limited, Huf Holding GmbH & Co. Kg, Stabilus GmbH, Kiekert AG, Strattec Security Corporation, Mitsuba Corporation, Multimatic Inc., Huf Hülsbeck & Fürst GmbH & Co. KG, Tomo Corporation, Ningbo Twirl Motor Co. Ltd., Power-Packer, Igarashi Electric Works Ltd., Airplex Automotive, Calsonic Kansei Corporation, Autoease Technology Co. Ltd.
Which Regions Will Dominate the Power Tailgate System Market Through 2029?
North America was the largest region in the power tailgate system market in 2024. Asia-Pacific is expected to be the fastest growing region in the market. The regions covered in the power tailgate system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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