Global Automotive Liftgate Market is Likely to Reach $5.1 Billion in 2022 at a CAGR of 5.6%, Composites Liftgate to Experience the Highest Growth Over the Next Five Years, as per a New Report from Stratview Research
This market report, from Stratview Research, studies the liftgate market in the global automotive industry over the period 2011 to 2022. 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 GlobalLiftgate Market in the Automotive Industry: Highlights
As per Stratview Research, the globalautomotive liftgate market offersahealthy growth opportunityof 5.6% CAGRduring the forecast period of 2017 to 2022 and reach US $5,104 Million in 2022. Organic growth in the automobile production owing to increasing disposable income and growing urbanization, increase in the 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 the major growth drivers of the global automotive liftgate market.
The author of the report cited that SUVsegmentis expected to remain the growth engine of the global automotive liftgate market during the forecast period of 2017 to 2022. Large number of SUVs production and high demand for comfort & space in vehicles would continue to drive the segment over the next five years.
As per the study, metal is projected to remain the most dominant material type for manufacturing liftgates over the next five years, whereas composites based liftgate is likely to witness higher growth rate in the same period. Due to government regulations, the auto industry is rapidly moving towards lightweight materials such as sheet molding compound and long-fiber reinforced thermoplastics to make final component light in weight without sacrificing the overall liftgate performance.
Stamping is expected to remain the most dominant manufacturing process of liftgates in the global automotive industry over the next five years, whereas injection molding is expected to be the fastest growing manufacturing process in 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.
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. Increasing automobile production coupled with increasing SUV production share is driving the demand for liftgates in the region.
According to Stratview Research, major global liftgate manufacturers are Ford Motor Company, Volkswagen Group, Meridian Lightweight Technologies, Trinseo, Honda Motor Company, Toyota Motor Corporation, General Motors, Plastic Omnium, and Magna International. Developing lightweight composite liftgate, mergers & acquisitions, and forming long-term contracts with OEMs are the key strategies adopted by the key players to gain a competitive edge in the market.
Report Features
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:
Global Automotive Liftgate Market, By Vehicle Type
Global Automotive Liftgate Market, By Material Type
Global Automotive Liftgate Market, By Manufacturing Process Type
Global Automotive Liftgate Market, By Region
Stratview Research hasseveral high value market reports in the global automotive industry. Please refer to the following link to browse through our reports:
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