Automotive Tailgate Market to Reach $17.17 Bn, Globally, by 2026 at 5.3% CAGR

PORTLAND, OREGON, UNITED STATES, July 11, 2023/EINPresswire.com/ -- Allied Market Research published a report, titled, "Automotive Tailgate Market by Type (Hydraulic/Manual Operated and Power Operated), Vehicle Type (Passenger Vehicle and Commercial Vehicle), and Sales Channel (Original Equipment Manufacturers (OEMs) and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global automotive tailgate industry garnered $11.49 billion in 2018, and is expected to reach $17.17 billion by 2026, growing at a CAGR of 5.3% from 2019 to 2026.

Prime determinants of growth

Surge in demand for electronic based components or devices in the vehicle and requirement for effective products in the vehicle drive the growth of the global automotive tailgate market. However, degradation of sensing mechanism and high configuration cost hinder the market growth. On the other hand, increase in expenditure on luxury vehicles across the world and technological advancements & innovations present new pathways for growth in the industry.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞: https://www.alliedmarketresearch.com/request-sample/6299

The hydraulic/manual operated segment to lead during the forecast period

Based on type, the hydraulic/manual operated segment held nearly 91% of the total share of the global automotive tailgate market in 2018, and is expected to continue to lead during the forecast period. This is due to its wide applications in older vehicles. Moreover, the power-operated segment is expected to grow at the highest CAGR of 7.4% from 2019 to 2026, owing to rise in production of autonomous vehicles and advent of electric vehicles.

The passenger vehicle segment to maintain its leadership position in terms of revenue by 2026

Based on vehicle type, the passenger vehicle segment held the highest market share of the global automotive tailgate market in 2018, contributing for more than three-fourths of the total share, and will maintain its leadership position in terms of revenue throughout the forecast period. Moreover, this segment is expected to register the fastest CAGR of 5.4% from 2019 to 2026. This is due to need for better and efficient components of tailgate to be installed in the vehicles. The research also analyzes the commercial vehicle segment.

Asia-Pacific to present lucrative opportunities, North America to follow

Based on region, Asia-Pacific contributed to the highest market share in terms of revenue, accounting for nearly two-fifths of the global drive by wire market in 2018, and is expected to maintain its lead position during the forecast period. In addition, this segment is expected to register a CAGR of 6.6% from 2019 to 2026. This is due to wide range of applications of tailgate in the region along with huge number of vehicles running in the region. However, North America accounted for nearly one-fifth of the total market share in 2018, and continue to grow throughout the forecast period.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/6299

Market players grabbing largest pie

Go Industries, Inc.
Gordon Auto Body Parts Co., Ltd.
Huf Hülsbeck & Fürst GmbH & Co. KG.
Johnson Electric Holdings Limited
Magna International Inc.
Plastic Omnium
Robert Bosch GmbH
Aisin Seiki
Autoease Technology
Woodbine Manufacturing Co. Inc

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

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Luxury Car Market is Expected to Reach $733.2 billion by 2026- https://www.alliedmarketresearch.com/luxury-car-market-A05980

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David Correa
Allied Analytics LLP
+ +1 800-792-5285
email us here

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