Automotive Composite Liftgate Market - Global Trend, Forecast, Competitive Analysis, and Growth Opportunities 2019-2024

5/17, 12:53 PM (Source: GlobeNewswire)

Dublin, May 17, 2019 (GLOBE NEWSWIRE) -- The "Automotive Composite Liftgate Market by Vehicle Type, by Manufacturing Process Type, and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024" report has been added to's offering.

This report studies the composite liftgate market in the global automotive industry over the forecast period of 2019 to 2024, both in terms of value as well as units. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

Automotive Composite Liftgate Market: Highlights

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.

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.

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.

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.

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.

The supply chain of this market comprises raw material suppliers, composite compound suppliers, composite liftgate manufacturers, automotive OEMs, and dealers. Major automotive composite liftgate manufacturers are Plastic Omnium Group, Magna International Inc. and 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.

The following are the key features of the report:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis
  • Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis
  • Market trend and forecast analysis
  • Market segment trend and forecast
  • Competitive landscape and dynamics: Market share, geographical presence, product launches, etc.
  • Attractive market segments and associated growth opportunities
  • Emerging trends
  • Strategic growth opportunities for the existing and new players
  • Key success factors

The global automotive composite liftgate market is segmented into the following categories:

Automotive Composite Liftgate Market by Vehicle Type:

  • Hatchback
  • SUV
  • Others

Automotive Composite Liftgate Market by Manufacturing Process Type:

  • Compression Molding Process
  • Injection Molding Process

Companies Mentioned

  • BMW AG
  • Ford Motor Company
  • Group PSA
  • Groupe Renault
  • Magna International Inc.
  • Nissan Motor Co. Ltd.
  • Peugeot
  • Plastic Omnium Group
  • The Volvo Group
  • Trinseo S.A.

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Related Topics: Commercial Vehicles, Composites 


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