Global Power Liftgate Market to Reach USD 6,816.55 Million by 2031 | CAGR of 8.6%
Category : Automotive | Published Date : Nov 2024 | Type : Press Release
Power Liftgate Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Power Liftgate Market size was valued at USD 3,528.98 million in 2023 and is projected to grow at a CAGR of 8.6%, reaching USD 6,816.55 million by 2031. Power liftgates are electronically operated tailgate systems integrated with advanced sensors and actuators, offering convenience, safety, and functionality in passenger and commercial vehicles. These systems enable users to open and close the tailgate using buttons, key fobs, or gesture control, enhancing user experience and utility in accessing cargo spaces.
The report comprises the Power Liftgate Market Share, Size & Industry Analysis, based on Vehicle Type (Passenger Vehicle: Compact, Mid-Sized, SUV, Luxury; Commercial Vehicle), Type (Automatic Power Liftgate, Semi-Automatic Power Liftgate), Sales Channel (OEMs, Aftermarket), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Power Liftgate Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profiles, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
The market is driven by the rising adoption of advanced driver assistance systems (ADAS) in vehicles and the growing demand for smart, automated solutions in passenger and commercial vehicles. However, high maintenance costs of power liftgate systems may restrain market growth.
Segmental Analysis :
Based on vehicle type, the market is segmented into Passenger Vehicle (Compact, Mid-Sized, SUV, Luxury) and Commercial Vehicle.
- The passenger vehicle segment held the largest market share in 2023, attributed to the extensive adoption of power liftgates in SUVs and luxury vehicles, offering enhanced convenience and premium features.
- The commercial vehicle segment is expected to grow at the fastest rate during the forecast period, driven by the increasing adoption of liftgate systems to improve operational efficiency in logistics and last-mile delivery.
Based on type, the market is segmented into Automatic Power Liftgate and Semi-Automatic Power Liftgate.
- The automatic power liftgate segment dominated the market in 2023, accounting for 70.28% of the revenue, supported by its seamless hands-free operation and integration with advanced vehicle technologies.
- The semi-automatic power liftgate segment is projected to grow at the fastest CAGR, driven by its cost-effectiveness and ease of integration into compact and mid-sized vehicles.
Based on sales channel, the market is segmented into OEMs and Aftermarket.
- The OEMs segment accounted for the largest share in 2023, driven by the inclusion of liftgate systems as a standard feature in SUVs and luxury cars during manufacturing.
- The aftermarket segment is anticipated to grow rapidly, fueled by increasing consumer interest in retrofitting existing vehicles with advanced power liftgate systems.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
- Asia-Pacific: Accounted for the largest market share in 2023, led by China with 38.6% of the revenue, driven by rapid industrialization, urbanization, and automotive production growth.
- North America: Expected to grow significantly, supported by the high demand for SUVs and luxury vehicles equipped with power liftgates.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 6,816.55 Million |
| CAGR (2024-2031) | 8.6% |
| Vehicle Type | Passenger Vehicle (Compact, Mid-Sized, SUV, Luxury), Commercial Vehicle |
| Type | Automatic Power Liftgate, Semi-Automatic Power Liftgate |
| Sales Channel | OEMs, Aftermarket |
| By Region | North America (U.S., Canada, Mexico), Europe (Germany, UK, France, Spain, Italy, Russia, BENELUX, Rest of Europe), APAC (China, Japan, India, South Korea, Australia, ASEAN, Rest of APAC), LATAM (Brazil, Argentina, Chile, Rest of LATAM), MEA (GCC, Turkey, South Africa, Rest of MEA) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Power Liftgate Industry:
- Continental Automotive (Germany)
- Brose Fahrzeugteile GmbH & Co. KG (Germany)
- Magna International Inc. (Canada)
- Aisin Seiki Co., Ltd. (Japan)
- Kiekert AG (Germany)
- Mitsubishi Electric Corporation (Japan)
- Valeo SA (France)
- Denso Corporation (Japan)
- Hyundai Mobis Co., Ltd. (South Korea)
- Mando Corporation (South Korea)
Recent Industry Developments:
- April 2024: Buick unveiled the 2024 Enclave featuring a hands-free power liftgate activated by a simple kicking motion beneath the rear bumper, enhancing user convenience with adjustable height settings.
- September 2024: Tata Motors launched the Tata Curvv SUV, incorporating a powered tailgate for seamless and user-friendly cargo access.
