Power Lift Gate Market: Introduction
Power Lift Gate is an electromechanical device utilized for open and close the back door using button on the smart key or control switch on the vehicle dashboard. The Power Lift Gate system fixed in the power assembly consist of drive unit, torque cable, Touch sensor, Latch system, controller, direct unit and electric latches. Power Lift Gate has a wide range of application in the passenger and commercial vehicles owing to higher usage for carrying materials and goods. Power Lift Gate has a compact design assembly offers less installation space and low weight which is major concern of every automakers. In recent era, Power Lift Gate has manufactured with composite materials providing the low weight and good anti corrosion property, which in turn to long operational life with efficient fuel efficiency of the vehicle.
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Power Lift Gate Market: Drivers and Challenges
In recent years, Automobile manufacturers are more inclined towards, manufacturing and developing the electromechanical components for the efficient output generation. The increasing usage of electromechanical components for manufacturing vehicles are expected to drive the Power Lift Gate market positively. In recent years, the Automobile manufacturers are aiming to provide technologically advanced system for operational efficiency. Increasing usage of the technologically advanced vehicle is expected to drive the demand for Power Lift Gate.
Governments are becoming more stringent about automotive safety, performance and stability control which leads to focus on the carrier safety. Automotive safety rules and regulations are expected to create the requirement for Power Lift Gate. However, the initial cost of Power Lift Gate is high which increase the total cost of the vehicle. The Original Equipment Manufacturers (OEM’s) possess rising cost pressure owing to lower cost margin. This cost factor is estimated to affect the growth of Power Lift Gate market negatively.
In the near future, end users are concern about automotive reliability and durability of the components in which Power Lift Gate is expected to face technical issues in average operating life. Increasing technical issues are expected to hamper the Power Lift Gate market owing to low market acceptance from the end users.
Power Lift Gate Market: Segments
Power Lift Gate market can be segmented on the basis of material type, operational type, sales channel, vehicle type and region.
On the basis of material type, Power Lift Gate market can be segmented as,
- Metal Power Lift Gate
- Composite Power Lift Gate
On the basis of sales channel, Power Lift Gate market can be segmented as,
- Original Equipment Manufacturers (OEM’s)
- Aftermarket
On the basis of vehicle type, Power Lift Gate market can be segmented as,
- Passanger Car Luxury SUV’s
- Commercial Vehicle Light Commercial Vehicles (HCV) Heavy Commercial Vehicles (LCV)
Power Lift Gate Market: Regional Outlook
Automotive industry witness substantial increasing demand of Power Lift Gate in European and Asian countries such as Germany, Italy, china, India etc. owing to an upsurge in automotive vehicle production. Moreover, Asia-Pacific is expected to witness prominent contributor to the Power Lift Gate market owing to increasing automotive production and demand from the end users in the respective region. The North America region rapidly adopts the emerging trend of technologically advanced vehicle. The rapid adoption of the technologically advanced vehicle is projected to drive the demand for Power Lift Gate. Europe is anticipated to witness high technology adoption rate. This high technology adoption rate is estimated to generate the requirement for Power Lift Gate. In terms of value, Europe is projected to dominate the Power Lift Gate market. Latin America creates the stagnant demand for Power Lift Gate followed by Asia Pacific, Europe, and North America. The Middle East experienced a steady growth in automobile industry however usage of luxury vehicle is projected to maximum in the respective region. Increasing usage of luxury vehicle is expected to drive the Power Lift Gate market positively.
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Power Lift Gate Market: Key Participants
List of some of the prominent market participants in the Power Lift Gate market are as follows:
- Continental A G
- Stabilus GmbH
- Huf Hülsbeck & Fürst GmbH & Co.
- Strattec Security Corporation
- Brose Fahrzeugteile GmbH & Co.
- Woodbine Manufacturing Co. Inc
- Johnson Electric Holdings Limited