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    Automotive Composite Liftgate Market Size, Share & Forecast (2019-2024)

    Automotive Composite Liftgate Market Size, Share & Forecast (2019-2024)
    Report code - SRTI144 Published On : Nov,2018 No. of Pages: 140

    Automotive Composite Liftgate Market Size, Share, Trend, For See more...

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    Automotive Composite Liftgate Market Insights

    Liftgate is generally made of steel by auto OEMs themselves; however, with the advent of lightweight components, composites have been in limelight and have already become successful in making a remarkable presence in liftgate of vehicles. Composites play a vital role in contributing to weight reduction without compromising the strength and performance of the overall system. This is attracting tier players as well as raw material suppliers including resin, fiber, and coating suppliers, to tap the growing opportunity of composites in the automotive liftgate market.

    Composite liftgate is among the few automotive components that are experiencing staggering growth. It accounts for less than one-fifth of the overall liftgate market at present but offers huge growth potential in the coming years. 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 carbon emissions. As a result, liftgates have experienced a significant change in the selection of materials over the period.

    As per Stratview Research, the global composite liftgate market size is likely to experience excellent growth over the next five years to reach an estimated value of US$ 1,183.3 million in 2024. Increasing automotive production, increasing share of SUVs in the overall vehicle production, and increasing demand for lightweight liftgate over bulky metallic liftgate are some of the key factors driving the growth of the market. Ford Motor Company, Nissan Motor Co. Ltd., BMW AG, Groupe Renault, Group PSA, and The Volvo Group are some of the major OEMs that have switched towards composite liftgate in some of their mass-selling models.

    Automotive Composite Liftgate Market Forecast

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    Automotive Composite Liftgate Market Share Analysis

    Automotive Composite Liftgate Market Forecast

    Insights by Vehicle Type

    The market is segmented based on the vehicle type as Hatchback, SUV, and Others. Hatchback is likely to remain the most dominant segment over the next five years; however, SUV is likely to be the fastest-growing segment during the same period. Renault Clio and Megane, Peugeot 308 and 508, and BMW i3 are some key hatchback models that contain composite liftgate.

    Insights by Manufacturing Process Type

    The market is segmented based on the manufacturing process type as Injection Molding and Compression Molding. Injection molding is expected to remain the most dominant process over the next five years, whereas compression molding is likely to experience a higher growth during the same period. Sheet molding compound (SMC) and long-fiber-reinforced thermoplastic (LFRT) compounds are the major types of composites being processed for fabricating composite liftgate.

    Regional Insights

    Based on regions, Europe is expected to remain the largest market for composite liftgates during the forecast period. European OEMs such as Group PSA, Groupe Renault, and BMW AG have been the early movers in adopting composite liftgate, leading to the dominance of the region in the global market. However, Asia-Pacific is likely to be the fastest-growing region in the market, driven by China. Despite weakening economic growth of China, the country is still able to attract investments from automakers. All the major global automakers are rolling out their assembly plants in the country to serve the growing local demand as well as the export market. This is also casting a huge impact on the overall market dynamics of liftgates, as the country is gradually becoming the major market for composite liftgates.

    Automotive Composite Liftgate Market Forecast

    Key Players

    The supply chain of this market comprises raw material suppliers, composite compound suppliers, composite liftgate manufacturers, automotive OEMs, and dealers. Major automotive composite liftgate manufacturers are Plastic Omnium Group, Magna International Inc. and Trinseo S.A. Development of lightweight composite liftgates, targeting untapped vehicle models, execution of mergers & acquisitions, and formation of long-term contracts with OEMs are the key strategies adopted by the major players to gain a competitive edge in the market.

    Research Methodology

    For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of 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. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

    Market Scope & Segmentation

    Automotive Composite liftgate is the automotive door made up of composites at the rear end. This is mainly used during the loading or unloading of goods from the vehicle. These doors are available in different types such as having an opening towards up or sliding or sideways.

    Automotive Composite Liftgate is gaining popularity these days due to a number of reasons such as composite materials reducing the overall weight. Apart from weight reduction, other worth noticing properties are strength, durability, temperature resistance, and flexibility,

    Research Scope

    Trend & Forecast Period

    2013-2024

    Size in 2024

    US$ 1,183.3 million

    Forecast

    10.7% CAGR during 2019-2024

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Countries/Subregions Covered

    The USA, France, Germany, The UK, China, Japan, Brazil and Others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

    The market is segmented in the following ways:

    Automotive Composite Liftgate Market Size, Share & Forecast by Vehicle Type:

    • Hatchback
    • SUV
    • Others

    Automotive Composite Liftgate Market Size, Share & Forecast by Manufacturing Process Type:

    • Compression Molding Process
    • Injection Molding Process

    Automotive Composite Liftgate Market Size, Share & Forecast by Region:

    • North America (Country Analysis: The USA and Others)
    • Europe (Country Analysis: France, Germany, The UK, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil and Others)

    Report Features

    This report, from Stratview Research, studies the composite liftgate market in the global automotive industry over the forecast period of 2019 to 2024, both in terms of value as well as units. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.


    A bird's eye view of the Automotive Composite Liftgate Market

    What will be the size of the Automotive Composite Liftgate Market in the foreseeable years?

    Driven by a number of factors like increasing demand for lightweight liftgate over bulky metallic liftgate, the automotive composite liftgate market is projected to reach an estimated value of US$ 1,183.3 million in 2024.

    Which country/region is expected to be the fastest growing Automotive Composite Liftgate Market?

    Based on regions, Asia-Pacific is likely to be the fastest-growing region in the market, driven by China.

    Which type of manufacturing process is expected to remain dominant?

    Injection molding is expected to remain the most dominant process over the next five years.

    Who are the key players in the Automotive Composite Liftgate Market?

    Plastic Omnium Group, Magna International Inc. and Trinseo S.A. are among the key players in the automotive composite liftgate market.

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