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(I-AutoNewsWire.com, October 12, 2018 )
Stratview Research announces the launch of a new research report on Automotive Liftgate Market by Vehicle Type (Hatchback, SUV, and Others), by Material Type (Metal Liftgates and Composite Liftgates), by Manufacturing Process Type (Stamping, Compression Molding, and Injection Molding), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
The Global Automotive Liftgate Market: Highlights
The next five years for the global automotive liftgate market are going to be vigorous with sizeable growth opportunities in the entire ecosystem of the market. As per Stratview Research, the market is estimated to grow at a healthy rate over the next five years to reach an estimated value of US$ 5.2 billion in 2023. Organic growth in automobile production owing to increasing disposable income and growing urbanization, increasing share of SUVs production, and increasing demand for lightweight liftgates to reduce the overall vehicle weight for achieving stringent government regulations, such as CAFÉ Standards are major growth drivers of the global automotive liftgate market.
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The author of the report cited that SUV is expected to remain the growth engine of the market during the forecast period. Increasing production of SUVs, especially in the Asia-Pacific region and high demand for comfort and space in vehicles would continue to drive the segment’s growth over the next five years.
Major liftgate manufacturers are Toyota Motor Corporation, General Motors, Plastic Omnium, and Magna International. Development of lightweight composite liftgates, execution of mergers & acquisitions, and formation of long-term contracts with OEMs are the key strategies adopted by the major players to gain a competitive edge in the market.
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.