Automotive Liftgate Market Report
Automotive Liftgate Market is Segmented by Vehicle Type (Hatchback, SUV, and Others), by Material Type (Metal Liftgate and Composite Liftgate), by Process Type (Stamping, Compression Molding, and Injection Molding), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Automotive Liftgate Market is Segmented by Vehicle Type (Hatchback, SUV, and Others), by Material Type (Metal Liftgate and Composite Liftgate), by Process Type (Stamping, Compression Molding, and Injection Molding), and by Region...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The liftgates are majorly used in light vehicles especially SUVs, hatchbacks, some MPVs, and some Vans. Over a period of time, the automotive industry has experienced a significant change in liftgate technology in terms of material, style, design, etc. There are different styles of liftgate modules available worldwide featuring different advantages.
The automotive industry was already under immense pressure due to weakening demand across regions. Even the high-growth markets, such as China and India, were recording a plunge in their demand for automobiles. The market conditions further exacerbated with the outburst of the Pandemic, creating a huge dent in the demand for automobiles. The market for automotive liftgates followed a similar trajectory and recorded a massive decline of -13.4% in 2020.
The long-term market outlook is high-yielding because it is backed by the industry’s buoyant nature and strong fundamentals. An expected recovery in light vehicle production coupled with an increasing share of SUVs and hatchbacks will bring back the market charm in the years to come. An incessant shift from metal liftgates to lightweight composite liftgates to achieve stringent regulations, such as CAFÉ Standards, further substantiate the market growth in the coming years. Overall, the market for automotive liftgates is estimated to recoup at a decent rate of 3.9% to reach US$ 4.3 Billion in 2026.
Based on the vehicle type, the automotive liftgate market is segmented as hatchback, SUV, and Others. Despite taking a nosedive in 2020, SUV is expected to remain the largest and the fastest-growing vehicle type in the market during the forecast period. Increased production of SUVs, especially in the Asia-Pacific region, and high demand for comfort & space in vehicles would continue to drive the segment’s growth over the next five years.
Based on the material type, the market is segmented as metal liftgate and composite liftgate. Metal liftgate is expected to remain the most dominant segment of the market during the forecast period. However, there is a continuous shift from metal to composite liftgates in the wake of several factors in which the most important is government regulations. Stringent regulations imposed by governments of many countries are putting pressure on the automakers to curb the overall vehicle weight to increase fuel efficiency or reduce emissions. Composite liftgates help the industry stakeholders to reduce the overall vehicle weight, ultimately contributing to achieving the targets to some extent.
Based on the process type, the market is segmented as stamping, compression molding, and injection molding. Stamping is expected to remain the most dominant process type in the market during the forecast period, whereas injection and compression molding are likely to be the fastest-growing manufacturing processes during the same period. Injection molding offers many benefits over competing processes, such as low part cycle time, ability to manufacture complex products, recyclability, good surface finish, lightweight, and excellent strength to weight ratio. Nissan Rogue, Peugeot 308, and BMW i3 & i8 are some of the major auto models that are using injection-molded thermoplastic composite liftgates.
In terms of regions, Asia-pacific is expected to remain the largest market for automotive liftgates during the forecast period. The region is also expected to experience the highest growth during the same period. Increasing automobile production coupled with increasing SUV production share is driving the demand for liftgates in the region. China and Japan are likely to remain the major markets in the region. India is likely to be the new growth engine of the region’s demand for automotive liftgates in the coming five years.
Europe is expected to remain the second-largest automotive liftgate market in the same period, driven by Germany, France, and Russia. Germany is likely to maintain its lead in the region’s automotive liftgate market in the coming five years. France and Russia are also likely to generate sizeable growth opportunities for the players in the coming years.
The supply chain of this market comprises raw material suppliers, compounders, liftgate manufacturers, distributors, automotive OEMs, and dealers.
The key automotive liftgate manufacturers are-
The development of lightweight composite liftgates, execution of mergers & acquisitions, and the formation of long-term contracts with OEMs are the key strategies adopted by the key players to gain a competitive edge in the market.
The following are the key players in the global automotive liftgate market.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s global automotive liftgate market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our automotive liftgate market report from the industry stakeholders, we have tried to further accentuate our research scope to the global automotive liftgate market in order to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The global automotive liftgate market is segmented into the following categories.
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Automotive liftgate is the door at the rear end of the vehicle that is mechanically raised upwards to open it during loading or unloading of goods or cargo. Liftgate is an integral part of any automotive as it allows the user to load heavy or big cargo at the rear side of the vehicle so that the other passengers can comfortably sit separately. Automotive liftgate is now available in different forms such as doors raising upwards or even swinging sideways. Usually, the metal liftgate is commonly in usage but with the increasing environmental concerns, composite liftgate is also being introduced.
Asia-Pacific is estimated to remain dominant in the automotive liftgate market in the foreseen future.
Metal is projected to remain the most dominant material type over the next five years.
Plastic Omnium, Magna International, Trinseo, General Motors, Ford Motor Company, Volkswagen Group, Toyota, Honda Motor Co., Ltd. are the leading players in the Automotive Liftgate market.
The automotive liftgate market size is expected to reach US$ 4.3 Billion in the foreseeable future.
The automotive liftgate market is expected to witness an impressive growth of 3.9% CAGR in the coming years.
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