The global hand-free power liftgate market is anticipated to grow at a considerable CAGR of 8.1% during the forecast period. The hands-free power liftgate is equipped with multiple sensors which offers several features, and benefits that make the hand-free power liftgate feature much more attractive and has been boosting the market. These features include:
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 – 2022-2029
- Base year- 2021
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Hand-Free Power Liftgate Market Report Segment
By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
By Type
- Fully Automatic
- Semi-Automatic
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Hand-Free Power Liftgate Market Report Segment by Region
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
- Latin America
- Middle East & Africa
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