Global Power Liftgate Market Price 2024, Forecast To 2033
23 Feb, 2024
The power liftgate market has demonstrated rapid growth, rising from $2.8 billion in 2023 to $3.14 billion in 2024, with a 12.3% CAGR. This growth is attributed to consumer demand and safety concerns. Moving forward, the market is forecasted to reach $4.88 billion in 2028, with an 11.7% CAGR, fueled by the rise of electric vehicles and smart connectivity.
Global Power Liftgate Market Key Driver
The power liftgate market is poised for growth with the increasing adoption of electric vehicles. Electric vehicle sales nearly doubled in 2021, representing almost 9% of total sales. As the automotive industry witnesses a surge in electric vehicle adoption, the demand for power liftgates is expected to rise, driving market growth.
Get A Free Sample Of The Global Power Liftgate Market ReportGlobal Power Liftgate Market Segments
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, Aftermarket
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the power liftgate market in 2023. The regions covered in the power liftgate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Power Liftgate Industry Players
Aisin Corporation; Autoease Technology; Brose Fahrzeugteile GmbH & Co. KG; Grupo Antolin Pvt. Ltd.; Johnson Electric Pvt. Ltd.; Anthony Liftgates Inc.; Maxon Lift Corp.; Dhollandia; Waltco Lift Corp.; Tommy Gate; Thieman Tailgates Inc.; Leyman Manufacturing Corporation; Palfinger AG; Eaglelift Inc.; Anteo Tail lifts Ltd.; Zepro Tail lift Pvt. Ltd.; Interlift Engineers; Bär Cargolift; Ricon Corp.; Ross & Bonnyman Ltd.; Sörensen Hydraulik GmbH; Tieman Industries Pty. Ltd.; Venco Venturo Industries LLC; Woodbine Manufacturing Company; Zequip; Cargotec Oyj; Del Liftgates Inc.; Maxilift Inc.; Periyar Hydraulic Equipments; Rishita Engineers
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Power Liftgate Market Overview
The power liftgate refer to a motorized hatch which opens and closes electronically. Hands-free opening and shutting can be achieved using the digital access system and/or a capacitive kick sensor incorporated into the bumper. The liftgate or trunk can also be opened or closed using the buttons on the lid or the key fob.
Power Liftgate Global Market Report 2023 provides data on the global power liftgate market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The power liftgate market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.