Hands-Free Power Liftgate Market statistics 2022-2030:
The global hands-free power liftgate market was valued $1,127.9 million in 2020, and is projected to reach $2,355.9 million in 2030, registering a CAGR of 7.8%.
Hands-free power liftgate enables the user to open or close the vehicle’s liftgate with a simple kick movement of the foot. Hands-free power liftgate can be activated by waving foot underneath the rear bumper, between the exhaust pipe & license plate. It is equipped with a sensor to control the operation of the liftgate through movement of hands or legs.
Increase in demand for luxury vehicles, growth in need to offer improved customer convenience & comfort, and integration of connectivity & advanced features in vehicles are factors expected to contribute to the growth of this market. However, high initial cost and degradation of sensing mechanism over time is expected to hamper growth of the market. On the contrary, technological advancements and increase in adoption of electric and autonomous vehicles across the globe are expected to offer growth opportunities during the forecast period.
By Vehicle Type
Passenger Cars is projected as the most lucrative segment
The hands-free power liftgate market is segmented on the basis of vehicle type, propulsion, sales channel, and region. On the basis of vehicle type, the market is segmented into passenger cars (SUV, sedan, and others), and commercial vehicles. By propulsion, it is classified into gasoline, diesel, and electric. On the basis of sales channel, it is segmented into Original Equipment Manufacturer, and aftermarket. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some leading companies profiled in the hands-free power liftgate market report include Aisin Corporation, Autoease Technology, Brose Fahrzeugteile SE & Co. KG, Continental AG, Hi-Lex Corporation, Huf Hulsbeck & Furst GmbH & Co., Johnson Holdings Limited, Magna International Inc, Stabilus GmbH, and Woodbine Manufacturing Co. Inc. (Tommy Gate).
By Propulsion
Electric is projected as the most lucrative segment
Increase in Demand for Luxury Vehicles
Increase in purchasing power parity across the globe drives the demand for luxury vehicles. Luxury vehicles are equipped with enhanced performance capabilities, and advanced safety and technology features. Moreover, luxury vehicle manufacturers offer smart features such as remote key access, and hands-free liftgate to improve the user experience of driving a luxury vehicle. Furthermore, increase in demand for luxury vehicles is anticipated to propel growth of the global hands-free power liftgate market during the forecast period.
Increase in Adoption of Electric and Autonomous Vehicles
Rise in adoption of electric vehicle is expected to drive the demand for hands-free power liftgate. Electric vehicle manufacturers focus on providing safety and advanced features such as hands-free power liftgate system in electric vehicles. Supportive government initiates and schemes further support the adoption of electric vehicles. Moreover, development of autonomous vehicles with fully automated driving system is expected to create new opportunities in hands-free power liftgate market
By Sales Channel
Aftermarket is projected as the most lucrative segment
COVID-19 Impact Analysis
The COVID-19 crisis has created uncertainty in the market, leading to massive decline of supply chain, decrease in business confidence, and increase in panic among customer segments. Governments of different regions have announced complete lockdown and temporary shutdown of industries, thereby adversely affecting the overall production and sales. Countries across the globe have posed stringent restrictions ranging from days to months of lockdown periods. Owing to this pandemic, many businesses have been halted and are waiting for the market conditions to improve.
The impact of the COVID-19 pandemic has resulted in supply chain disruptions and shortage of microchips required for development of hands-free power liftgate. Several automobile manufacturers faced shortage of electronic components and limited inventory resulting in delayed vehicle production. Shortage of electronic components has forced manufacturers to leave out features such as hands-free power liftgate from vehicles till the microchip shortage is addressed.
By Region
North America would exhibit the highest CAGR of 9.0% during 2021-2030.
Key Benefits For Stakeholders
- This study presents the analytical depiction of the global hands-free power liftgate market analysis along with current trends and future estimations to depict imminent investment pockets.
- The overall hands-free power liftgate market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the global hands-free power liftgate market with a detailed impact analysis.
- The current hands-free power liftgate market is quantitatively analyzed from 2020 to 2030 to benchmark financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Hands-Free Power Liftgate Market Report Highlights
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Analyst Review
To enhance passenger comfort, there has been increase in focus on integration of connectivity solutions & advanced features in vehicles. The sensor based hands-free power liftgate provides benefits such as ease in handling and greater cargo flexibility. Factors such as increase in demand for luxury vehicles, growth in need to offer improved customer convenience & comfort, and integration of connectivity & advanced features in vehicles supplement growth of the hands-free power liftgate market. Technological advancements and increase in adoption of electric and autonomous vehicles across the globe are expected to offer opportunities for growth of the market.
Increase in demand for hands-free power liftgate from emerging economies along with rise in disposable income, and growth in sale of passenger vehicles is expected to supplement the market growth. Product development and geographic expansion is expected to enable leading players to enhance their offerings and strengthen their position in the market. In August 2019, Stabilus opened a new facility in North America which directly serviced complete range of Stabilus OE lift support & power liftgate related products to the customers (both retail and wholesale customers). In November 2019, Autoease technology released a new power liftgate kit for ford transit/tourneo custom that automatically opens & close the rear door through a remote control.
The global Hands-free Power Liftgate market is expected to reach $2,355.9 million in 2030
In August 2019, Stabilus opened a new facility in North America which will directly service complete range of Stabilus OE lift support & Power Liftgate related products to the customers (both retail and wholesale customers).
The sample/company profiles for global Hands-free Power Liftgate market report can be obtained on demand from the AMR website. Also, the 24*7 chat support and direct call services are provided to procure the sample report.
The adoption of hands-free power liftgate is expected to increase during the forecast period owing to development of vehicles with advanced features, rising sale of luxury vehicles, and technological advancements.
Hands-free power liftgate enables the user to open or close the vehicle’s liftgate with a simple kick movement of the foot. Hands-free power liftgate can be activated by waving foot underneath the rear bumper, between the exhaust pipe & license plate.
The company profiles of the top market players of Hands-free Power Liftgate market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the Hands-free Power Liftgate market.
The global Hands-free Power Liftgate market was valued at $1,127.9 million in 2020
Passenger cars account for a major share in the hands-free power liftgate market
The leading companies in the hands-free power liftgate market include Aisin Corporation, Autoease Technology, Brose Fahrzeugteile SE & Co. KG, Continental AG, Hi-Lex Corporation, Huf Hulsbeck & Furst GmbH & Co., Johnson Holdings Limited, Magna International Inc, Stabilus GmbH, and Woodbine Manufacturing Co. Inc
The upcoming trends in the hands-free power liftgate industry include integration of hands-free power liftgate in electric vehicles, and use in development of autonomous vehicles
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