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Automotive Liftgate Market Latest Trends and Key Drivers Supporting Growth through 2024

Author : Ronak Bora | Published Date : 2019-04-12 

The report presenting a comprehensive exploration of the global Automotive Liftgate Market encloses the rate of growth of the market over the projected duration. Providing a concise synopsis, the report determines the valuation and size of the industry in the near future. It also includes the major contributing factors to the growth of the global automotive liftgate market as well as the dominating players in the market coupled with their market share.

Automotive Liftgate Market is available in two types including, metals and composites material. Composites accounts for higher market share due to its light weight property. Based on its types they are bifurcated into conventional, rail type, side loader and tuck away. Convectional gateways are most functional due to its high storage capacity and light weight. They are used in various applications such as trucks, SUV, van and minivan.

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Europe is highly flourishing region for the product, it manufacturers highest number of trucks in the world. It hosts many big truck manufacturing companies such as Mercedes, Invesco and Grebe. Its focus in on manufacturing superior quality product that are efficient, secure and environment friendly. With increasing demand and manufacturing of trucks, automotive liftgate market is simultaneously growing.

North America dominated by the U.S. produces largest number of SUV’s worldwide. SUV’s are considered light trucks in the country, they are regulated less strictly. Light trucks in the region is highly used for carrying goods and heavy commodities. Rising demand and investment on SUV’s has propelled growth of automotive liftgate market.

Growing demand for commercial vehicle has boosted automotive liftgate market in Asia Pacific. Japan and Switzerland have most efficient road transport infrastructure. Advance technology, road connectivity and infrastructure are several factors that drives demand for this region.

Transportation infrastructure investment is projected to rise at over 4% in near future, efficient connectivity and flexibility in mobilization has drove the demand. Road will remain biggest investment area in the forecast time, this is due to rise in propensity and vehicle ownership in all the countries. Urbanization, digitalization and trend towards larger fleets has surged demand for heavy vehicles therefore positively influenced automotive liftgate market.

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Various disadvantages of using truck such as expensive for long hauls and bulky commodities. It is highly affected by the climatic condition and restrictions imposed by states regarding size and weight of the cargo. Other factor hindering the growth of automotive liftgate market is road transportation. Frequent accidents, inadequate roads, heavy taxes, poor maintenance of roads and rising price of petrol and diesel.

Increasing demand for SUV’s has positively influenced automotive liftgate market. Higher ground clearance, softer ride, increasing off road capacity and higher seating position has accelerated the product demand. SUV is a combination of car, power and functionality of utility vehicle, it offers more space, comfortable seats and attractive appearance. Diverse features and various characteristics drives the demand for SUV in the automobile sector.

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Key manufacturers in automotive liftgate market are HIAB, Says Group, Pal finger, Zero, Fiat Chrysler, General Motors Company, Magna International, Plastic Omnia Group, Toyota Corporation and Honda Motor Company. HIAB expands customer service centers in Israel in 2016. Objective of expansion was to boost a brand-new installation workshop and separate customer service center. Their focus was to offer increased capacity, efficiency, and a better customer focus to service clients in a business that is growing rapidly. Customer fulfilment and expanding global footprint is the focus for the company.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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