A number of factors such as the burgeoning demand for autonomous vehicles and the surging adoption of electric vehicles (EVs) will support the power liftgate market growth during the forecast period (2021–2030). According to P&S Intelligence, the market generated a revenue of $3,478.3 million in 2020. A power liftgate is a backdoor mechanism through which the drivers open or close the liftgate/tailgate by clicking a key on the dashboard or a handheld remote. Nowadays, automotive power liftgates are available with anti-trap and height memory functions.
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| Power Liftgate Market Outlook |
One of the major growth drivers for the market is the escalating demand for autonomous vehicles, owing to the growing need for ease of driving and soaring concerns being raised over passenger and vehicle safety. Due to the increasing safety concerns, automakers are focusing on technological advancements to enhance road safety and also developing intelligent transportation systems, such as self-driving features and advanced driver-assistance systems (ADAS). Thus, the increasing research in autonomous technology will augment the demand for power liftgate systems in the foreseeable future.
Geographically, the Asia-Pacific (APAC) power liftgate market is expected to demonstrate the fastest growth during the forecast period. This can be ascribed to the mounting disposable income and rising living standards of the middle-class population and booming car sales in the region. Moreover, the escalating sales of EVs, owing to the enactment of stringent emission norms, burgeoning demand for autonomous vehicles, introduction of hands-free power liftgate technology, and soaring requirement for sensors and various electronic devices and components in the automobile industry will also support the market growth in APAC in the coming years.
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Thus, the rising adoption of autonomous vehicles and increasing integration of advanced technologies in the automotive industry will fuel the market growth in the foreseeable future.
