How Is The Global Power Tailgate System Market Defined?
A power tailgate system is an automated mechanism used in vehicles to open and close the rear door (tailgate) with the press of a button or via remote control. It enhances convenience by allowing hands-free operation, which is especially useful when carrying items or loading cargo. The system often includes safety features such as sensors to prevent the tailgate from closing when obstacles are detected.
Power Tailgate System Global Market Report 2024 provides data on the global power tailgate system market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The power tailgate system market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Market Size And Growth Rate Of The Global Power Tailgate System Market Projected?
The power tailgate system market has grown steadily in recent years. It is expected to grow from $2.95 billion in 2023 to $3.20 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.6%. The growth in the historical period is driven by the increasing demand for convenience and enhanced user experience, the growing demand for smart, adaptive, and self-operating liftgates, and the rise in demand for power tailgates in both passenger and commercial vehicles. The market is projected to grow to $4.51 billion by 2028, at a CAGR of 9.0%. This growth is supported by the adoption of electric vehicles, increasing vehicle electrification, the rise of electric and hybrid vehicle adoption, a greater focus on automation, and integration of smart features. Major trends include AI integration, innovations in automobile technology, advancements in vehicle sensors, electric motor technology, and drivetrain innovation.
What Are The Primary Growth Drivers In The Power Tailgate System Market?
The rising demand for electric vehicles is expected to drive the growth of the power tailgate system market. Electric vehicles are gaining popularity due to their potential to reduce greenhouse gas emissions, lower fuel costs, and comply with environmental regulations. Power tailgate systems enhance convenience by using automated opening and closing mechanisms powered by the vehicle’s electrical system. For instance, in March 2023, the International Energy Agency reported that electric vehicle sales surpassed 10 million in 2022, reflecting a substantial increase from the previous year. Therefore, the rising demand for electric vehicles is boosting the power tailgate system market.
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What Is The Segmentation Of The Global Power Tailgate System Market?
The power tailgate system market 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
What Emerging Trends Are Shaping The Power Tailgate System Market Landscape?
Key players in the power tailgate system market are focusing on smart electric tailgate actuators to improve vehicle convenience, safety, and efficiency. These actuators enable hands-free tailgate operation, enhancing user experience while reducing energy consumption. In May 2024, China-based ZHAOWEI introduced a smart electric tailgate actuator tailored for automotive applications. Equipped with an optimized gearbox and control line design, the actuator increases torque output while minimizing noise. Its electric spindle motor facilitates smooth opening and closing, ensuring convenience and safety.
Which Region Has The Fastest Expansion In The Power Tailgate System Market?
North America was the largest region in the power tailgate system market in 2023. 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.
