Global Power Tailgate System Market Forecast To Reach $4.51 Billion By 2028 With 9.0% Annual Growth

The Business Research Company's Power Tailgate System Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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The power tailgate system market has experienced significant growth in recent years. It is expected to increase from $2.95 billion in 2023 to $3.20 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.6%. This growth in the past period can be attributed to a heightened emphasis on improving convenience and user experience, rising demand for smart, adaptive, and self-operating liftgates, the growing need for power tailgates in both passenger cars and commercial vehicles, increasing demand within the automotive sector, and a greater focus on comfort and convenience.

What Are the Market Size Estimates for the Global Power Tailgate System Market and Its Expected Growth Rate?

The power tailgate system market is projected to experience significant growth in the coming years, reaching $4.51 billion by 2028 with a compound annual growth rate (CAGR) of 9.0%. This growth is driven by the increasing adoption of electric vehicles, greater vehicle electrification and hybridization, a rise in electric and hybrid vehicle sales, growing demand for automation, and the integration of smart technologies.

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What Are The Primary Growth Drivers Of The Power Tailgate System Market?
The growing demand for electric vehicles is anticipated to drive the expansion of the power tailgate system market in the future. Electric vehicles, which are powered either fully by electric batteries or through a combination of an internal combustion engine and an electric motor, are gaining popularity due to their ability to reduce greenhouse gas emissions, lower fuel costs, and comply with stricter environmental regulations while promoting sustainable and energy-efficient transportation. These vehicles increasingly incorporate power tailgate systems to offer greater convenience and easier trunk access, using automated opening and closing mechanisms that are powered by the vehicle's electrical system.

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Who Are The Top Market Players Contributing To The Growth Of The Power Tailgate System Market?
Key players in the power tailgate system market include Robert Bosch GmbH, Continental AG, Magna International Inc., Aisin Seiki Co. Ltd., Brose Fahrzeugteile SE & Co. KG, Johnson Electric Holdings Limited, Huf Holding GmbH & Co. Kg, Stabilus GmbH, Kiekert AG, Strattec Security Corporation, Mitsuba Corporation, Multimatic Inc., Huf Hülsbeck & Fürst GmbH & Co. KG, Tomo Corporation, Ningbo Twirl Motor Co. Ltd., Power-Packer, Igarashi Electric Works Ltd., Airplex Automotive, Calsonic Kansei Corporation, Autoease Technology Co. Ltd.

What Emerging Trends Are Affecting The Size Of The Power Tailgate System Market?
Leading companies in the power tailgate system market are concentrating on creating innovative solutions, such as smart electric tailgate actuators, to improve vehicle convenience, enhance user safety, and provide seamless hands-free access. These advancements aim to reduce energy consumption and boost overall vehicle efficiency. Smart electric tailgate actuators are sophisticated components that allow for the automatic, hands-free opening and closing of vehicle tailgates, offering greater convenience, safety, and efficiency in modern automotive systems.

How Is the Global Power Tailgate System Market Segmented?

1) By System Type: Conventional, Hands-Free Power Liftgate
2) By Component: Electric Motors, Control Modules, Sensors, Wiring Harnesses, Struts Or Shocks, Door Locks, Other Components
3) By Propulsion: Internal Combustion Engine (ICE), Electric
4) By Vehicle Type: Passenger Car, Commercial Vehicle, Heavy Vehicles
5) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket

Geographical Analysis: North America Emerges as the Power Tailgate System Market Leader

North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is The Definition And Overview Of The Power Tailgate System Market?
A power tailgate system is an automated device in vehicles that allows the rear door (tailgate) to open and close with the push of a button or via remote control. It provides added convenience by enabling hands-free operation, which is particularly beneficial when carrying items or loading cargo. The system typically includes safety features, such as sensors that detect obstacles and prevent the tailgate from closing when an obstruction is present.

The Power Tailgate System Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Power Tailgate System Market Report: Trends, Opportunities, Strategies, and More
The Power Tailgate System Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into power tailgate system market size, power tailgate system market drivers and trends, power tailgate system competitors' revenues, and power tailgate system market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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