According to a report by The Brainy Insights, the global automatic liftgate market was valued at USD 12.1 billion in 2022 and is projected to reach USD 24.02 billion by 2032, growing at a compound annual growth rate (CAGR) of 7.1% during the forecast period from 2023 to 2032.
Market Introduction: Automatic liftgates are vehicle doors that open upward, powered by an electric motor activated through a remote control or proximity sensors. They enhance vehicle and passenger safety while providing ease of use. The increasing demand for advanced driver-assistance systems and the growing focus on intelligent transportation are significant factors driving the market’s growth.
Recent Developments:
- March 2020: Tesla introduced the Model Y’s powered liftgate, which can be operated remotely via Tesla’s mobile app, manually through a hatch-mounted button, or from the vehicle’s interior touchscreen, streamlining access to the rear cargo area.
Drivers:
- Technological Advancements: The integration of advanced technologies such as sensors, electronic components, hatch lift motors, actuators, and power liftgate kits enhances passenger comfort and convenience, thereby driving the growth of the automatic liftgate market.
Restraints:
- High Costs: The development and configuration of automatic liftgates involve assembling sensors and electronic units into a single system, leading to higher manufacturing costs. This cost factor may slow market growth, particularly among price-sensitive consumers.
Opportunities:
- Rising Demand for Luxury Vehicles: The increasing consumer preference for luxury vehicles, which often come equipped with features like automatic power liftgates and enhanced safety systems, presents significant growth opportunities for the automatic liftgate market.
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Regional Segmentation Analysis:
- Asia Pacific: In 2022, the Asia Pacific region dominated the automatic liftgate market, accounting for a 38.2% market revenue share. This dominance is attributed to the region’s position as a leading automotive producer, with countries like China, India, and Japan being major contributors. The steady growth trajectory in automotive sales, particularly in new energy vehicles, further bolsters the market in this region.
The automatic liftgate market is poised for significant growth, driven by technological advancements and the rising demand for luxury vehicles. However, high manufacturing costs may pose challenges. The Asia Pacific region currently leads the market, with substantial contributions from key automotive-producing countries.
The material type segment is divided into composite and metal. The composite segment dominated the market, with a share of around 59.1% in 2022. Composite liftgates make use of composites to build their doors. Plastic is made by polymerizing polyethylene terephthalate (PET), which can be recycled or reused after use. While it requires more electricity than metal, production costs are lower due to fewer raw materials such as steel, aluminium, and glass being needed.
The vehicle type segment is divided into commercial vehicles and passenger cars. The passenger cars segment dominated the market, with a market share of around 61.2% in 2022. The growth of the passenger car segment in the market has been driven by the increase in sales and production of passenger cars in developing countries.