Stratview Research announces the launch of a new research report on Automotive Liftgate Market by Vehicle Type (Hatchback, SUV, and Others), by Material Type (Metal Liftgates and Composite Liftgates), by Manufacturing Process Type (Stamping, Compression Molding, and Injection Molding), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
This market report, from Stratview Research, studies the liftgate market in the global automotive industry over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The Global Automotive Liftgate Market: Highlights
The next five years for the global automotive liftgate market are going to be vigorous with sizeable growth opportunities in the entire ecosystem of the market. As per Stratview Research, the market is estimated to grow at a healthy rate over the next five years to reach an estimated value of US$ 5.2 billion in 2023. Organic growth in automobile production owing to increasing disposable income and growing urbanization, increasing share of SUVs production, and increasing demand for lightweight liftgates to reduce the overall vehicle weight for achieving stringent government regulations, such as CAFÉ Standards are major growth drivers of the global automotive liftgate market.
The author of the report cited that SUV is expected to remain the growth engine of the market during the forecast period. Increasing production of SUVs, especially in the Asia-Pacific region and high demand for comfort and space in vehicles would continue to drive the segment’s growth over the next five years.
Based on the material type, metal liftgate is projected to remain more dominant over the next five years, whereas composite liftgate is likely to witness higher growth rate in the same period. Continuous shift from metal to composites is due to several factors in which the most important one is government regulations to increase fuel efficiency or reduce emissions. Auto industry is rapidly moving towards lightweight materials, such as sheet molding compound and long-fiber reinforced thermoplastics, to make the final component light in weight without sacrificing the overall liftgate performance.
Stamping is expected to remain the most dominant manufacturing process over the next five years, whereas injection molding is likely to be the fastest-growing process. 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 which are using injection-molded thermoplastic composite liftgates.
In terms of region, Asia-Pacific is expected to remain the largest liftgate market during the forecast period. The region is also expected to experience the highest growth in the same period. Whereas, Europe is expected to remain the second largest market in the same period, driven by Germany, France, and Russia. Germany is likely to maintain its lead in the region’s market in the coming five years.
Major liftgate manufacturers are Toyota Motor Corporation, General Motors, Plastic Omnium, and Magna International. Development of lightweight composite liftgates, 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.
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 on 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:
This report studies liftgate market in the global automotive industry and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. The following are the four ways in which the market is segmented:
By Vehicle Type
By Material Type
By Manufacturing Process Type
Stratview Research has several high value market reports in the global automotive industry. Please refer to the following link to browse through our reports:
Some of our other premium reports in the automotive industry:
Automotive Airbag Yarn Market by Vehicle Type, by Airbag Type, by Coating Type, by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018 – 2023
Automotive Headlamp Reflector Market by Vehicle Type, by Light Type, by Material Type, by Manufacturing Process, by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018 – 2023
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