Press Release
Press Release
The global automotive power liftgate industry is being driven by the rising consumer demand for passenger vehicles. This can be attributed to the rising disposable income and improved living standards of consumers. In addition, the rapidly growing population and their transportation requirements are also supporting the demand for automotive power liftgates. Moreover, the demand for automotive power liftgates made using composite materials is surging, owing to their durable and lightweight composition. These factors are expected to positively impact the industry growth in the forecast period.
The growing focus of the leading players to develop efficient power liftgates by integrating advanced technologies is anticipated to further catalyse the industry growth in the forecast period. For instance, in August 2021, Magna International Inc. (NYSE: MGA) announced the launch of its new plant in Sunderland, England. The plant is set to produce lightweight thermoplastic liftgate modules for the third generation Nissan Qashqai using advanced manufacturing technologies, including robotic adhesive bonding cells, advanced vision systems, and ultrasonic leak testing. Furthermore, another leading automotive power liftgate manufacturer, Strattec Security Corporation (NASDAQ: STRT) received the 2019 Automotive News PACE award for its new Invis-A-Rise® Power Tailgate technology available on the Chevrolet Silverado. This mechanism offers consumers to automatically open, close, and latch the tailgate with the press of a button. Such developments are expected to positively impact the growth of the automotive power liftgate industry in the forecast period.
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The major players in the global automotive power liftgate market are Faurecia SE, Magna International Inc., Huf Group, Strattec Security Corporation, Woodbine Manufacturing, Autoease Technology, and Brose Fahrzeugteile, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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