The global automotive tailgate market size is expected to be worth US$ 15 bn by 2026. Over the forecast tenure from 2019 to 2026, the market is estimated to rise at a 4% compound annual growth rate (CAGR).
Automotive tailgate is the rearmost door of the vehicle, which moves upwards or downwards for the duration of loading and unloading and offers access to the vehicle boot area. Automotive tailgate are made of metal, plastic, and other polymer material and are usually found on hatchbacks, SUVs, compact SUVs, sedans, crossovers, and light pickup carrier trucks. Automotive tailgate is the closing door of the boot or passenger compartment situated at the rearmost end of the vehicle, which is either fully hydraulic operated, or power operated, or manually operated.
Rapid rise in demand for sport utility vehicles, hatchbacks, and crossover, across the globe, as a new flock of mainstream models influence consumers, supplemented with a decline in car loan rates, easy availability of finance with customized financial schemes offered by banks and car dealers, coupled with rise in per capita income of consumers are key factors driving the production and sales of vehicles. This, in turn, is boosting the demand for the automotive tailgate, which is a complex vehicle part that is used as the rearmost door in the car. These are major factors that are likely to propel the automotive tailgate market during the forecast period. Automotive tailgate greatly influences the esthetic appearance of the vehicle, as it is located at the exterior rear-end of the vehicle. For light commercial trucks, automotive tailgates safeguard the load carried on the integrated trailer. This, in turn, is anticipated to drive the automotive tailgate in the near future.
Automotive tailgate offers numerous benefits; however, the market faces a couple of limitations. The power operated tailgate consists of sensors and mechatronics component to assist in opening and closing of the vehicle, which leads to higher maintenance and replacement cost of the power operated tailgate. A traditional or manual tailgate requires human intervention and supervision for opening and closing. These factors are likely to hamper the market during the forecast period.
The global automotive tailgate market has been segmented based on tailgate type, material, vehicle type, sales channel, and region. Based on tailgate type, the global automotive tailgate market has been classified into hydraulic operated tailgate, power operated tailgate, and manual operated tailgate. In terms of tailgate type, power operated tailgate is a highly attractive segment of the market. This is majorly due to a rise in the demand for high performance, efficient, and advanced products and technology, which has prompted automakers and OEMs to develop power operated tailgates that do not require human intervention of locking and unlocking the tailgate.
Based on vehicle type, the global automotive tailgate market has been split into passenger vehicle and commercial vehicle. In terms of vehicle type, the passenger vehicle segment leads the automotive tailgate market. The segment is likely to maintain its leading position in the market during the forecast period. The utility vehicle sub-segment is anticipated to hold a major share of the passenger vehicle segment of the market during the forecast period. The utility vehicle sub-segment includes SUVs, crossovers, and MPVs. Demand for utility vehicles is rising across the globe, owing to their advantages such as driving comfort, riding height, and drivability on off-road conditions.
Based on sales channel, the global automotive tailgate market has been bifurcated into OEM and aftermarket. OEM is a highly attractive and lucrative segment of the automotive tailgate market. Expansion of the OEM segment is primarily attributed to the incorporation of the automotive tailgate as a primary component by major car manufacturers, which offers superior product quality as compared to aftermarket tailgate, which is expensive. Additionally, increasing improvements in materials have led to no or rare replacements of the automotive tailgate during its entire life cycle.
In terms of region, the global automotive tailgate market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific accounts for prominent share of the market. This is primarily due to a surge in vehicle production in China, India, and Japan. Furthermore, countries with high vehicle production around the world are from Asia Pacific, which is attributed to the higher share held by the region in the global automotive tailgate market. The region is projected to maintain its dominant position during the forecast period. Moreover, entry of premium auto manufacturers in the region is also likely to propel the automotive tailgate market in the region.
Demand for Lightweight Cars to Influence Automotive Tailgate Market
Because it requires less power to speed up a light object than a heavier, lightweight materials give considerable potential to increase the effectiveness of vehicles. A 10% decrease in car weight could lead to an enhancement in fuel efficiency by 6% to 8%. For significant car companies such as Citroen C4, Range Rover and Peugeot, companies such as the Plastic Ominum and the Magna International supply composite material tailgates. In addition, the carbon-based composite tailgate decreases the general weight of the tailgate, and consequently the demand for automotive plastic tailgates will probably boost in the era of forecasting.
High Sales of Luxury Cars to Boost Market Opportunity
Driving forces such as demand for convenience and luxury drive the automotive tailgate market strongly coupled with increasing attention to security and driverless vehicles. The manufacturers of this luxury vehicle experiment in distinct models to create an elegant appearance and feel on the rear. In the new generation of individuals because of enhanced convenience, appearance, and velocity, this is an appealing characteristic. The automotive tailgate market is expected to be highly motivated by increasing demand for luxury cars, an enhanced preferential treatment for sophisticated electronic cars and the soaring implementation of sophisticated safety features. A factor that may hamper the growth of this market is the steep cost of these systems.
However, simple access to financing with custom financing options, a decrease in the prices of car loans, and an increase in users ' incomes are expected to help increase the automotive tailgate market in the next few years.
Major players operating in the global automotive tailgate market include Magna International Inc., Robert Bosch GmbH, Plastic Omnium, SEOYON E-HWA, Rockland Manufacturing Company, Zhejiang Yuanchi Holding Group Co.,Ltd., GORDON AUTO BODY PARTS CO., LTD., Huf Hülsbeck & Fürst GmbH & Co. KG, Woodbine Manufacturing Co. Inc., and Go Industries, Inc.
The report analyzes and forecasts the automotive tailgate market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global automotive tailgate market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the automotive tailgate market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides size (in terms of volume and value) of automotive tailgate market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
The global automotive tailgate Market has been segmented as follows:
By Vehicle Type
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are:
Farm Tire Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027Read more...
Automotive Valves Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027Read more...
Automotive Battery Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027Read more...
Automotive Blind Spot Detection Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027Read more...
Automotive Steering Wheel Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027Read more...