According to a new report by Allied Market Research, titled,"Hands-free power liftgate Market by Type and Application: Global Opportunities Analysis and Industry Forecast, 2017 - 2023,"the global hands-free power liftgate market was valued at $ 1,069.06 million in 2016, and is projected to reach at $ 1,490.96 million by 2023, growing at a CAGR of 5.0% from 2017 to 2023.
At present, Asia-Pacific dominates the market, followed by North America, Europe, and LAMEA. U.S. dominated the global hands-free liftgate market in 2017, whereas India is expected to grow at a significant rate in Asia-Pacific during the forecast period
Hands-Free Power Liftgate is a back-door system, the user of the vehicle controls the liftgate/tailgate opening and closing through the key located on the dashboard or through handheld remote device. The hands-free power liftgate market is anticipated to exhibit a significant growth rate during the forecast period.
Factors such as increase in demand for sensor and electronic based components or devices in the vehicle, and a rise in spending on luxury vehicles around the globe are driving the growth of hands-free power lift gate market. In addition, need for effective automatic liftgate/tailgate in the vehicle will boost the growth of the market. However, factor such as high configuration cost and degradation of sensing mechanism is anticipated to hinder the growth of the market. Furthermore, rise in technological advancement and innovation in the field is automotive industry provides a remarkable growth opportunity for the players operating in the hands-free power liftgate market. Many automobile manufacturers are introducing the hands-free power liftgate with advancements and innovation, which in return will propel the growth of the market.
The global hands-free power liftgate market is segmented based on the type such as fully automatic, and semi-automatic. Fully automatic is sensor-based power liftgate, which can be either operated through hands/legs movement across the liftgate/tailgate or can be opened/closed through single button located on the dashboard. This facilitates features such as audible feedback, obstacle detection, liftgate strut function, drift control, and others. The growth in penetration of IOT technology and digital automation in the field of automotive industry increases the requirement of fully automatic hands-free power liftgates in the market. Sensors and electronic component add advantage to overall power liftgate mechanism.
Semi-automatic is latch-based system that does not make the use of rear camera and sensor bar for the visualization. The liftgate can be opened through the button located in the dashboard but it needs to be closed manually. The rise in boom across logistics industry and increase in expenditure on entry level luxury cars, fuels the demand in the market.
Many automobile manufacturers are introducing new range of vehicle with added feature of hands-free power liftgate. For instance, Nissan, a Japanese multinational automaker launched new Nissan Rogue with some added feature and power liftgate. This is standard on the SV and SL and allow the opening and closing of rear door with the help of some gesture or remote control without touching the car. In addition, Ford Motor Company, a multinational automaker launched a new Ford Endeavour with added set of new features which also includes hands free powerlift gate. This new model consist of hands free power liftgate with added anti-punch sensor, which will allow the user to close of open the rear door if the users hands are not free.
In 2016, semi-automatic segment dominated the hands-free power liftgate industry, in terms of revenue, due to increase in demand for luxurious vehicle. It is anticipated that hands-free power liftgate market growth will experience a remarkable growth rate.
Asia Pacific was the highest revenue contributor to the hands-free power liftgate market size in 2016, accounting for around 32.00% hands-free power liftgate market share, due to rise in adoption of sensors and electronic based system/components across the automotive sector.
According to Rahul Kumar & Sonia Mutreja, Research Analyst, Automotive & Transportation at Allied Market Research, The features of hands-free power liftgate, such as fast actuating sensing performance, high stability, and better reliability, make it suitable for personal usage in terms of safety and security.
The report features a competitive scenario of the hands-free power liftgate market analysis and provides a comprehensive analysis of the key growth strategies adopted by major players. The key players in the global market are Aisin Seiko co.ltd, Autoease Technology, Brose Fahrzeugteile GmbH & Co.KG, Faurecia SA, Grupo Antolin Irausa S.A, Huf Hlsbeck & Frst GmbH & Co. KG, Johnson electric, Magna International Inc., Stabilus GmbH, tommygate.
These players have adopted various competitive strategies such as innovation, new product development, and market expansion to boost the growth of the market.
Key Findings of the Hands-free power liftgate Market:
- The semi-automatic segment accounted for the highest share in 2016, growing at a CAGR of 4.6% from 2017 to 2023.
- Passenger cars application generated the highest revenue, accounting for $789.64 million in 2016.
- Asia pacific is expected to dominate the market, in terms of market share, during the forecast period.