PORTLAND, Oregon, Feb. 25, 2020 /PRNewswire/ — 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 Sample Report at: 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.
For purchase inquiry at: 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.
Avenue | The Market Research Library Access
Avenue, a user-based library of global market report database, provides comprehensive reports pertaining to the world’s largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. Avenue is a premium subscription-based model that serves as an informative solution on which the world-leading companies can rely on.
Avenue is a premium subscription-based model that serves as an informative solution on which the world-leading companies can rely on.
Sign up and start using your 14-day free trial: https://www.alliedmarketresearch.com/avenueTrial
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
SOURCE Allied Market Research