Automotive Power Liftgate Market

Automotive Power Liftgate Market to Derive Growth from the Partnership of Brose Fahrzeugteile GmbH & Co. KG., and Vayyar, states Fortune Business Insights™

Automotive Power Liftgate Market  | 2021 Automotive Industry Global Analysis By Covid-19 Impact On, Size, Trends, Growth, Share, Business, Key Players, Merger, Statistics, Competitive Landscape, And Regional Forecast To 2026 is latest study published by Fortune Business Insights. The Global Automotive Power Liftgate Market expected to rise at a 12.6% CAGR and reach USD 2013 million a valuation of by 2028.Automotive Power Liftgate Market Size, Share & Industry Analysis, By Type (Conventional Power Liftgate, Hands-free Power Liftgate), By Material Type (Metal power liftgate, Composite Power Liftgate), By Vehicle Type (Passenger cars, Commercial Vehicles)Others and Regional Forecast, 2021-2028 

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MajorAutomotive Power Liftgate Studied In Report:

• Faurecia SA (France)
• Johnson Electric (China)
• Magna International Inc. (Canada)
• Continental AG (Germany)
• Brose Fahrzeugteile GmbH & Co. KG.

Global Automotive Power Liftgate Market Highlights:

The growing demand for luxury vehicles is predicted to foster healthy growth of the market, mentioned in a report, titled “Automotive Power Liftgate Market Size, Share & Industry Analysis, By Type (Conventional Power Liftgate, Hands-free Power Liftgate), By Material Type (Metal power liftgate, Composite Power Liftgate), By Vehicle Type (Passenger cars, Commercial Vehicles)Others and Regional Forecast, 2019-2026” The growing technological advancements and innovation in the automobiles is expected to enable healthy growth of the market during the forecast period.

The COVID-19 pandemic has had a seismic effect on several economies across the globe. To curb the pandemic spread, the governments of several countries have ordered complete lockdown of industrial and human activities. This is expected to have a significant impact on the market in 2020. However, proactive steps by the industry leaders to revive the automotive industry will bode well for the growth of the market in the near future.

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Regional Analysis:

Geographically, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world (RoW). Asia Pacific is expected to dominate the market during the forecast period owing to the rising disposable income of individuals and increasing demand for passenger cars with advanced technology from in emerging countries such as India, China, and Japan. Europe is expected to account for the largest share during the forecast period owing to the presence of the OEMs in the region. The rising investment in the development of advanced hybrid cars is expected to stimulate the growth of the market. North America is predicted to witness steady growth in the forthcoming years owing to the surge in luxury vehicles. Heavy demand for electric vehicles in the US and Canada is predicted to bode well for the market.

The flourishing automotive industry is likely to create lucrative business opportunities for the market in the forthcoming years. The demand for electronic and sensor-based components in vehicles is expected to boost the automotive power liftgate market share during the forecast period. Similarly, the introduction of innovative power liftgates is expected to bolster the healthy growth of the market in the forthcoming years. The development of electro-mechanical components by OEMs to withstand extreme temperatures, vibrations, and shocks in vehicles is predicted to brighten the growth prospects of the market in the foreseeable future. The increasing R&D by leading players to develop compact, energy-efficient, and lightweight components is expected to bolster the healthy growth of the market. Also, the growing collaborations and partnerships among key companies is predicted to favor the growth of the market during the forecast period. For instance, in January 2019, Brose Fahrzeugteile GmbH & Co. KG., a leading automotive supplier collaborated with Vayyar, an Israeli semiconductor company. The development of 3D radar image sensors by Vayyar will help to monitor the immediate vicinity of the doors, vehicle, and cabin.

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