Market Research Future (MRFR) has launched a new release on the global Power Liftgate Market Revenue. The report presents a thorough overview of the global Power Liftgate Market Revenue on the back of a detailed analysis of the market’s historical growth trajectory and leading segments. The market’s historical growth trajectory is assessed in detail in the report in order to understand the major factors underlying the market’s growth in the study period.Market Synopsis:
Market Highlights
Power liftgate is designed for an opening and closing of the rear door of an automobiles. The power liftgate system includes drive unit, electronic control unit, actuator, liftgate kit, and anti-pinch strips.
The growing automotive infrastructure from countries such as China, Mexico, Thailand, and Brazil drive the growth of the Power Liftgate Market Revenue. Furthermore, technological advancement, growing adoption of IoT and AI, along with sensors in automobiles, and increasing need to improve passenger comfort and convenience are set to drive the growth of this market.
Market Research Analysis
The global Power Liftgate Market Revenue is segmented on the basis of type, vehicle type, sales channel, and region. By type, the market is segmented as conventional and hands-free power liftgate. By vehicle type, the market is segmented as passenger car and commercial vehicle. By sales channel, the market is segmented as OEM and aftermarket.
In terms of region, the global market for the power liftgate is segmented into Europe, Asia-Pacific, North America, and the rest of the world. Asia-Pacific is estimated to hold the highest market share during the forecast period owing to growing electrical and electronics industry across the region. Moreover, increased production and sales of automobiles primarily passenger car and electric vehicles is expected
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North America is estimated to grow at a significant rate in the Power Liftgate Market Revenue during the forecast period owing to the growing demand for luxury vehicles and the presence of key players such as Woodbine Manufacturing Co. Inc. and STRATTEC contributing to the growth of this market. The market in Canada is projected to grow at a higher CAGR due to increase in sales of premium SUVs. However, the US is expected to hold the larger share and grow at a steady pace between 2019 and 2025 owing to the growing demand for environment-friendly vehicles, advanced technology, and increasing adoption of rail liftgate in commercial vehicles such as trucks and pick up vans.
In Europe, the Power Liftgate Market Revenue is estimated to witness considerable growth over the forecast period due to growing passenger car demand. In Europe, the UK is projected to grow at the highest rate over the forecast period due to the presence of several OEMs such as Rolls-Royce PLC, Aston Martin, and Jaguar. French companies such as Renault, PSA-Opel, and Transdev are investing heavily in autonomous vehicles, which is driving the growth of this market in France. However, Germany, the largest vehicle manufacturer in Europe, accounted for the largest market share in Europe.
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