PUBLISHER: The Business Research Company | PRODUCT CODE: 1608813
PUBLISHER: The Business Research Company | PRODUCT CODE: 1608813
A power tailgate system is an automated feature in vehicles that allows the rear door (tailgate) to open and close with the push of a button or through remote control. This system adds convenience by enabling hands-free operation, making it especially helpful when carrying items or loading cargo. It typically includes safety features such as sensors to detect obstacles, preventing the tailgate from closing when something is in the way.
The main types of power tailgate systems are conventional power liftgates and hands-free power liftgates. A conventional power liftgate opens and closes the rear door automatically with the press of a button. Key components of these systems include electric motors, control modules, sensors, wiring harnesses, struts or shocks, and door locks. Power tailgate systems are available for vehicles with different propulsion types, including internal combustion engines (ICE) and electric vehicles. They are used across various vehicle categories such as passenger cars, commercial vehicles, and heavy vehicles and are sold through different channels, including original equipment manufacturers (OEM) and the aftermarket.
The power tailgate system research report is one of a series of new reports from The Business Research Company that provides power tailgate system market statistics, including power tailgate system industry global market size, regional shares, competitors with a power tailgate system market share, detailed power tailgate system market segments, market trends, and opportunities, and any further data you may need to thrive in the power tailgate system industry. This power tailgate system research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The power tailgate system market size has grown strongly in recent years. It will grow from $2.95 billion in 2023 to $3.20 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth during the historical period can be attributed to several factors, including an increasing focus on enhancing convenience and user experience, rising demand for smart, adaptive, and self-controlling power liftgates, growing demand for power tailgates in passenger cars and commercial vehicles, expanding demand in the automotive industry, and a heightened emphasis on comfort and convenience features in vehicles.
The power tailgate system market size is expected to see strong growth in the next few years. It will grow to $4.51 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The anticipated growth during the forecast period can be attributed to the growing adoption of electric vehicles, increased vehicle electrification and hybridization, a rise in the acceptance of electric and hybrid vehicles, escalating demand for automation, and the integration of smart features. Key trends expected during this period include the incorporation of artificial intelligence (AI), innovative technologies in automobiles, advancements in vehicle sensors, developments in electric motor technology, and breakthroughs in drivetrain technologies.
The increasing demand for electric vehicles is anticipated to drive growth in the power tailgate system market in the future. Electric vehicles are defined as automobiles that are either fully powered by electric energy stored in batteries or utilize a combination of an internal combustion engine and an electric motor. The rising interest in electric vehicles is largely due to their potential to reduce greenhouse gas emissions, lower fuel costs, and comply with stricter environmental regulations, all while promoting sustainable and energy-efficient transportation. Power tailgate systems enhance the convenience and accessibility of the trunk by employing automated opening and closing mechanisms that are powered by the vehicle's electrical system. For example, in March 2023, the International Energy Agency, a France-based intergovernmental organization, reported that the electric car market witnessed remarkable growth, with sales exceeding 10 million units in 2022. Electric vehicles accounted for 14% of all new cars sold that year, a significant increase from approximately 9% in 2021. Consequently, the growing demand for electric vehicles is propelling the expansion of the power tailgate system market.
Key companies in the power tailgate system market are focusing on creating innovative solutions, such as smart electric tailgate actuators, to enhance vehicle convenience, improve user safety, and facilitate seamless hands-free access while reducing energy consumption and increasing overall vehicle efficiency. Smart electric tailgate actuators are sophisticated components that allow for the automatic, hands-free opening and closing of vehicle tailgates, thereby providing enhanced convenience, safety, and efficiency in modern automotive systems. For instance, in May 2024, ZHAOWEI, a Chinese manufacturer of power transmission systems and gearboxes, introduced a smart electric tailgate actuator tailored for the automotive industry. This innovative product aims to improve the convenience and safety features of power tailgate systems in vehicles. The actuator is designed with an optimized gearbox and control line, which enhances torque output while minimizing noise during operation. It utilizes an electric spindle motor to operate the trunk lid spring and assist in opening the trunk cover.
In August 2022, MinebeaMitsumi Inc., a Japan-based automotive firm, acquired Honda Lock Mfg. Co Ltd. for an undisclosed sum. This acquisition strengthens MinebeaMitsumi's market position, expands its product range, and leverages technological advancements in the automotive components sector. Honda Lock Mfg. Co., Ltd. is a Japan-based company specializing in the production of sensors, mirror systems, entry systems, and security systems, including power tailgate systems.
Major companies operating in the power tailgate system market are 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 Hulsbeck & Furst 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.
North America was the largest region in the power tailgate system market in 2023. Asia-Pacific is expected to be the fastest growing region in the market. The regions covered in the power tailgate system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the power tailgate system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The power tailgate system market consists of sales of smart power tailgate systems and conventional power tailgate systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Power Tailgate System Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on power tailgate system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for power tailgate system ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The power tailgate system market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.