Published by mark itwired
Posted on October 4, 2021
4 min readLast updated: January 31, 2026
The power liftgate market is projected to reach $2.3 billion by 2030, driven by automation and luxury vehicle demand, despite Covid-19 challenges.
As per a new report by Future Market Insights (FMI), the power liftgate market reached a US$ 2.3 billion valuation in 2019, and is projected to display a strong 8% CAGR. Improvements in automation tech, and the rising popularity of retrofitting are expected to aid long-term developments in the industry.
While the market is expected to display a positive growth trajectory in the coming decade, prohibitive costs of configuration, and limited use in low and mid-range automobiles remain deterrents.
“Rising demand for reliability and comfort in driving experience and the growing value of the luxury vehicles segment around the world are key factors driving the demand for power liftgates. Manufacturers are pushing for improvements in terms of temperature and shock resistance, which will aid growth in the long-term,” said a lead FMI analyst.
Lockdown restrictions have affected production activities. Also, restrictions on trade have disrupted supply chains for raw materials and components.Concerns in terms of workforce shortage and finances will also remain important for the duration of the crisis. Changes in consumer spending behavior have impacted automotive sales, which in turn has hurt the demand for power liftgates. Recovery is likely to be gradual, owing to economic uncertainties and the largely non-essential nature of automotive components for the near future.
In its new report, FMI has covered essential data on key business strategies that have been gaining traction in the power liftgate market. Market leaders have been focused largely on product development strategies, in addition to geographical expansion, especially considering the high potential of emerging economies.
For Information On The Research Approach Used In The Report, Ask Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-12888
Continental AG, Stabilus GmbH, Huf Hulsbeck & Furst GmbH & Co., Strattec Security Corporation, Brose Fahrzeugteile GmbH & Co., Johnson Electric Holdings Ltd., HI-LEX Corporation, VOXX Electronics Corp, Power-Packer Corporation, Magna International, Autoease Technology are some of the more prominent market players in the industry.
Future Market Insights in a recent report provides an unbiased analysis of the global power liftgate market covering historical demand from 2015 to 2019 and forecast data for 2020 to 2030. The study gives projections on the power liftgates on the basis of sales channels (OEM and aftermarket), vehicle types (passenger car and commercial vehicle), and product types (automatic and semi-automatic) in six key regions.
The automotive division of FMI offers a novel approach and innovative perspective in the analysis of the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery across the manufacturing sector and distinctive analysis about the installed base, consumables, replacement, USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders, and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.
The post Power Liftgate Market will Reach a Valuation of over US$ 2.3 Bn towards 2030-end: FMI appeared first on Market Research Blog.
The article discusses the growth of the power liftgate market, projected to reach $2.3 billion by 2030.
Advancements in automation technology and increased demand for luxury vehicles are key drivers.
Covid-19 has disrupted production and supply chains, impacting demand for power liftgates.
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