The global hands-free power liftgate market is anticipated to grow at a significant CAGR of 8.1% during the forecast period. One of the crucial factors that are fueling the market is the growing technology and its demands. Technology has been growing exponentially over the years, and in the past few years, competitiveness in the market has fuelled traction of customers. Market players in the vehicle industries, which were once given only basic features, are offering advanced features such as ADAS (Advance Driver Assistance System), sunroof, navigation, a hands-free power liftgate, and others. Hand-free power liftgate has become a very necessary and useful feature in vehicles the demand has increased and is anticipated to grow in the upcoming years. For instance, in June 2021, Tata updated its Nexon EV with several features including a hands-free tailgate.
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Due to the rapid increase of COVID-19 incidences several governments across the globe imposed lockdown which strictly restricted the vehicle production, and sales of the vehicles. As per the 2020 data of Organisation Internationale des Constructeurs d’Automobiles (OICA), the global sales of vehicles declined by more than 13% as compared to the sales in 2019. Such rapid decline of vehicle production had further caused market players of hand-free power liftgate a loss. As per the financial report of Johnson Electric Holdings Ltd., in 2020, the company’s total sales revenue decreased by more than 6% as compared to the total sales revenue in 2019. However, as the situation got normal, Johnson Electric Holdings Ltd. witnessed decent growth. As per the financial report of Johnson Electric Holdings Ltd. in 2021, total sales revenue increased by 2.8% as compared to the total sales revenue from 2020. Thus, post-pandemic the market is expected to cater “V” shaped recovery over the projected timeperiod.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Hands-free Power Liftgate Market by Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
Global Hands-free Power Liftgate Market by Type
- Fully Automatic
- Semi-Automatic
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Brose Fahrzeugteile SE & Co. KG
- Hi-Lex Corp.
- Magna International Inc.
- Stabilus GmbH
- Woodbine Manufacturing Co. Inc. (Tommy Gate)
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global hands-free power liftgate market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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