Hands-Free Power Liftgate Market Soars to $1.3 Billion in 2022, Set for Strong 6.06% CAGR Growth Through 2028

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Oct 31, 2023, 18:30 ET

DUBLIN, Oct. 31, 2023 /PRNewswire/ -- The "Hands-Free Power Liftgate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global hands-free power liftgate market has demonstrated remarkable growth, reaching a size of US$ 1.3 Billion in 2022. Projections from industry experts indicate continued expansion, with the market poised to reach US$ 1.9 Billion by 2028, exhibiting a robust compound annual growth rate (CAGR) of 6.06% during the period spanning from 2023 to 2028.

Hands-Free Power Liftgate Technology Overview:

The hands-free power liftgate is an innovative automotive technology that enables users to effortlessly open and close their vehicle's liftgate by simply waving their foot beneath the rear bumper. Equipped with a motor, electrical wiring, and a sensor, this technology detects foot motion and activates the liftgate mechanism.

Widely employed in commercial and passenger vehicles, including sports utility vehicles (SUVs) and sedans, it enhances convenience, safeguards delicate cargo, provides adjustable height functionality, and simplifies the loading and unloading of items such as adventure gear, sports equipment, and groceries.

Market Trends and Drivers:

Several key trends and factors are driving the growth of the hands-free power liftgate market:

Luxury Vehicle Demand: The global market benefits from the surging demand for luxury vehicles, with consumers exhibiting greater spending capacity. Luxury cars increasingly incorporate advanced features, including hands-free power liftgates, to enhance customer experience and comfort.
Millennial Demand for Vehicle Modifications: Millennials are driving demand for vehicle modifications aimed at improving quality and functionality, including the adoption of hands-free power liftgate systems.
Autonomous and Electric Vehicles (EVs): The market gains momentum as the autonomous and electric vehicle sectors expand, with manufacturers prioritizing safety and advanced features. Hands-free power liftgates are a valuable addition to these vehicles.
Government Policies Promoting EV Adoption: Favorable government policies promoting electric vehicle adoption in response to environmental concerns support market growth.
Advanced Technologies: Introduction of capacitive sensing and radar technologies in smart, hands-free power liftgates improves safety and collision prevention, further boosting market prospects.
Research and Development: Extensive research and development activities, along with growing demand for technologically advanced vehicle components, including sensors and electronic systems, contribute to market growth.

Key Market Segmentation:

The report offers comprehensive segmentation of the hands-free power liftgate market:

Type: Fully Automatic, Semi-Automatic
Vehicle Type: Passenger Cars, SUVs, Sedans, Others, Commercial Vehicles
Propulsion: Gasoline, Diesel, Electric
Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Region: North America, Asia-Pacific, Europe, Latin America, Middle East and Africa

Competitive Landscape:

Key players in the hands-free power liftgate market include Autoease Technology, Brose Fahrzeugteile SE & Co. KG, Continental AG, HI-LEX Corporation, Huf Hulsbeck & Furst GmbH & Co. KG, Hyundai Motor Company, Magna International Inc., Volkswagen AG (Porsche Automobil Holding SE), and Woodbine Manufacturing Co. Inc.

Key Questions Addressed in the Report:

What was the global hands-free power liftgate market size in 2022?
What is the expected CAGR for the market during 2023-2028?
What factors are driving the market's growth?
How has COVID-19 impacted the hands-free power liftgate market?
What is the market's segmentation based on type, vehicle type, propulsion, and sales channel?
Which regions are key to the hands-free power liftgate market?
Who are the leading companies in the hands-free power liftgate market?

For more information about this report visit https://www.researchandmarkets.com/r/hho8f8

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