High Growth & Smooth Sailing of Automotive Composite Liftgate Market, a US$ 1,183.3 million Opportunity

The Cutting-Edge Stratview Insights:

Stratview Research prognosticates the market to grow at a healthy CAGR over the next five years and expects the market to cross over of US$ 1,183.3 million mark by 2024.

The estimates are a result of market analysis over a period of 2013–18, Stratview Research goes to the depth of the issues shaping the market and estimates the most probable future growth rate for the Automotive Composite Liftgate Market during the period 2019–24.

Identifying the Factors & Avenues of Growth

Tending to the most frequent questions and problems that consume the psyches of business visionaries and leaders, the new report of “Stratview Research” on the Automotive Composite Liftgate Market responds to all the significant inquiries.

Liftgate is generally made of steel by auto OEMs themselves; however, with the advent of lightweight components, composites have been in limelight and have already become successful in making a remarkable presence in liftgate of vehicles. Composites play a vital role in contributing to weight reduction without compromising the strength and performance of the overall system. This is attracting tier players as well as raw material suppliers including resin, fiber, and coating suppliers, to tap the growing opportunity of composites in the automotive liftgate market.

Composite liftgate is among the few automotive components that are experiencing staggering growth. It accounts for less than one-fifth of the overall liftgate market at present but offers huge growth potential in the coming years. Stringent regulations imposed by governments of many countries are putting pressure on the automakers to curb the overall vehicle weight to increase fuel efficiency or reduce carbon emissions. As a result, liftgates have experienced a significant change in the selection of materials over the period.

As per Stratview Research, the global composite liftgate market is likely to experience excellent growth over the next five years to reach an estimated value of US$ 1,183.3 million in 2024. Increasing automotive production, increasing share of SUVs in the overall vehicle production, and increasing demand for lightweight liftgate over bulky metallic liftgate are some of the key factors driving the growth of the market. Ford Motor Company, Nissan Motor Co. Ltd., BMW AG, Groupe Renault, Group PSA, and The Volvo Group are some of the major OEMs that have switched towards composite liftgate in some of their mass-selling models.

Unravelling the Critical Segments

The true picture of the market shall not emerge till the time the market is analyzed from various point of views. Each vantage point gives a better understanding of the market.

It would mean a lot understand with clarity that the market has various parts and insights on them might be critical to many players.

The market of Automotive Composite Liftgate has been divided into categories such as by Vehicle Type, Manufacturing Process Type, by Region. Insights on each segment can be of critical importance to any player.

Each segmented view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.

The answers to the prominent questions which are evinced out of above slicing of the market are:

● Which are the best performing segments of the market?

● Which is the most dominant region?

● Which material is the most promising?

● Who are the movers and shakers of the market?

● What are the regional growth hotspots?

● What are the segmental growth forecasts?

To get the feel of how our best in class, cutting-edge market research report feels, request a sample: https://www.stratviewresearch.com/Request-Sample/446/Automotive-Composite-Liftgate-Market.html

Magna International Inc. at the Helm

The top 5 players are Magna International Inc., Plastic Omnium Group, Trinseo S.A.

Development of lightweight composite liftgates, targeting untapped vehicle models, 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.

Emerging Trends:

Hatchback to Remain the Dominant Segment

The market is segmented based on the vehicle type as Hatchback, SUV, and Others. Hatchback is likely to remain the most dominant segment over the next five years; however, SUV is likely to be the fastest-growing segment during the same period. Renault Clio and Megane, Peugeot 308 and 508, and BMW i3 are some key hatchback models that contain composite liftgate.

Injection molding to remain the most dominant process

The market is segmented based on the manufacturing process type as Injection Molding and Compression Molding. Injection molding is expected to remain the most dominant process over the next five years, whereas compression molding is likely to experience a higher growth during the same period. Sheet molding compound (SMC) and long-fiber-reinforced thermoplastic (LFRT) compounds are the major types of composites being processed for fabricating composite liftgate.

Europe to be the Largest Market

Based on regions, Europe is expected to remain the largest market for composite liftgates during the forecast period. European OEMs such as Group PSA, Groupe Renault, and BMW AG have been the early movers in adopting composite liftgate, leading to the dominance of the region in the global market. However, Asia-Pacific is likely to be the fastest-growing region in the market, driven by China. Despite weakening economic growth of China, the country is still able to attract investments from automakers. All the major global automakers are rolling out their assembly plants in the country to serve the growing local demand as well as the export market. This is also casting a huge impact on the overall market dynamics of liftgates, as the country is gradually becoming the major market for composite liftgates.

Subscribe to the Stratview advantage and Advance Your Business.

The insights delivered in our report helps business take bold decisions and make smarter moves. It is the emerging trends that have to be understood well in advance for the firms to take an informed decision. We can help you by giving you the market scenario and its growth hotspots. The decision still rests with you.

Click Here for Other Reports from Stratview Research in the Automotive & Transportation Industry: https://www.stratviewresearch.com/market-reports/Automotive-Transportation.html