Liftgate or the rear end closure of a vehicle consists of three main parts and these are the inner panel, structural panel, and the outer panel. Different loads and factors form the base for the selection of the material. The usage of composite materials are consistently increasing and one of the areas where these composite materials are being used currently is the liftgate.
Stratview Research report on Automotive Composite Liftgate Market highlights the current market trend, the advantages of using composite liftgates and also the forecasts for the market.
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Composite materials are held beneficial because they can reduce the weight from 30% to 50%, and they have the properties of strength to weight, offering smooth finish and stiffness. With the help of composite liftgate introduced, a good percentage of weight reduction has been noticed in different vehicles such as 28% in Jeep Cherokee, 10% in Renault Clio, 30% in Range Rover Evoque, and etc.
Though composite liftgates are being used in vehicle options such as hatchbacks, SUVs, and others, the main dominating segment of the current global market is the SUV.
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The composite liftgate manufacturing is done through the processes of compression molding and injection molding where the domination of injection molding is much higher globally due to reasons such as high production rate, low scrap rate, consistent part quality, and simple process.
The composite liftgate market has spread up majorly in the region of Europe, followed by Asia-Pacific. France, Germany, the USA, China, and the UK are the five countries that together have the highest share in the global automotive liftgate market.
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Plastic Omnium Group, Magna International Inc, Daikyo Nishikawa, Wuhu Hangxin Auto Interior Trim Co., Ltd are the top four manufacturing players currently in the global automotive composite liftgate market.
As per the report of Stratview Research, factors that are responsible for the success of the composite liftgate in the future market are focus on SUVs and Hatchbacks, target mass-selling vehicle models, focus on the high-growth markets such as China, USA, and France, focus on reducing overall part price, and focus on improving surface finish and design.
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Salient Features of the Report
The report on Automotive Composite Liftgate Market from Stratview Research highlights the benefits of using composite materials, the current market trend, and the future estimations. The key features of the report are:
- Strategic Segmentation
- Strategic Growth Opportunities
- Swot Analysis
- Competitive Analysis
- Key Players
- Forecast Analysis & Future Growth
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