According to a report by a market research institution, P&S Intelligence, the power liftgate market continues to grow with the advancement in automotive technologies.
Based on vehicle type, the passenger vehicle category will dominate the power liftgate market over this decade. This is mainly credited to the rising demand for luxury vehicles because of the increasing disposable income and standards of living of the middle class. Luxury cars often come with features such as advanced sensor systems, liftgate lock systems, and automatically opening & closing doors.
APAC will witness the fastest growth in the years to come, owing to the increasing disposable income, growing standards of living, and rising sales of cars. The growth in the region is also driven by the increasing demand for autonomous vehicles, a range of electronic components/devices in automobiles, and e-vehicles, because of the strict emission regulations, the necessity to increase customer comfort & convenience, and the introduction of the hands-free power liftgate technology.
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Key players in the industry have been concentrating on facility expansions and product launches to enhance their share and gain momentum. For instance, Tesla Inc. has revealed its Model Y power liftgate, which offers easier access to the vehicle's rear cargo room through remote control, mobile application, hatch-mounted button, or manually.
Due to the increasing demand for autonomous vehicles, growing implementation of hand-free liftgate technology, and increasing need to enhance passenger comfort, the power liftgate industry will continue to grow significantly in the years to come.
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