Global Power Lift Market, By System Type (Conventional, Hands-Free Power Liftgate), Vehicle Type (Passenger Car, Commercial Vehicle), Sales Channel (Aftermarket, Original Equipment Manufacturers (OEM)), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Power Lift Market
The power lift market is expected to witness market growth at a rate of 5.40% in the forecast period of 2021 to 2028. Data Bridge Market Research report on power lift market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in sale of e-vehicles is escalating the growth of power lift market.
A power liftgate also called power rear liftgate system in automobiles opens and closes automatically by pressing a key which is located on the dashboard or handheld remote. This liftgate is designed for the purpose of liftgate is designed even during the event of network or power loss. The liftage system consists of drive unit, an electronic control unit, anti-pinch strips and power liftgate actuator.
The technological advancements and innovations in the automotive sector including hand-free system for the opening and closing of back doors and increasing investments in these projects act as the major factors driving the growth of the power lift market. The rise in the adoption rate of these systems in the automotive industry owning to the improvements in terms of electric latches, torque cables, direct units and touch sensors and growing shift towards electric cars and other autonomous and semi-autonomous technologies for user convenience accelerate the power lift market growth. The increasing usage of commercial vehicles for ever growing volumes of domestic trade, availability of insurance premium discount for vehicles equipped with advanced technologies and rise in demand for the system due to the novel product designs with composite designs and anti-corrosion coatings which improves fuel efficiency further influence the power lift market. Original equipment manufacturers (OEMs) aiming to provide advanced technology systems in vehicles and the limited amount of human effort required also boost the power lift market. Additionally, growing numbers of car sales, especially in developing economies, increase in disposable income and increase in demand for luxury passenger car models, change in lifestyle, rapid urbanization and expansion of automotive sector positively affect the power lift market. Furthermore, enhancement of the quality of the material used and designing of unique systems, and product launch extend profitable opportunities to the power lift market players in the forecast period of 2021 to 2028.
On the other hand, high cost associated with the installation of the systems also increasing the cost of the vehicles and strict emission and fuel efficiency norms are the factors expected to obstruct the power lift market growth. The presence of numerous competitors in the automotive sector and the rise in concerns regarding the fluctuating performance of sensors are projected to challenge the power lift market in the forecast period of 2021-2028.
This power lift market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on power lift market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Power Lift Market Scope and Market Size
The power lift market is segmented on the basis of system type, vehicle type and sales channel. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of system type, the power lift market is segmented into conventional and hands-free power liftgate.
- On the basis of vehicle type, the power lift market is segmented into passenger car and commercial vehicle.
- On the basis of sales channel, the power lift market is segmented into aftermarket and original equipment manufacturers (OEM).
Global Power Lift Market Country Level Analysis
The power lift market is analyzed and market size, volume information is provided by country, system type, vehicle type and sales channel as referenced above.
The countries covered in the globally runway lighting system market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the power lift market because of the sales of large number of luxury vehicle models especially in the United States, shift towards electric and hybrid automobiles, presence of several leading automotive OEMs and automation technology developers, innovations in advanced driver assistance systems with AI and IoT improvements and strict road safety rules in the region. Europe is expected witness the significant growth during the forecast period of 2021 to 2028 because of the stringent vehicle emission norms leads the demand for electric vehicles.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Power Lift Market Share Analysis
The power lift market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to power lift market.
The major players covered in the power lift market report are Bosch, Continental AG, Huf Hülsbeck & Fürst GmbH & Co. KG, STRATTEC, Johnson Electric Holdings Limited, HI-LEX CORPORATION, VOXX Electronics Corp., VT Corp, Autoease Technology, AISIN SEIKI Co., Ltd., Brose Fahrzeugteile SE & Co. KG, Faurecia, Grupo Antolin, Magna International Inc., woodbine Manufacturing Co. Inc., Stabilus GmbH, IGARASHI ELECTRIC WORKS Ltd. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.