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The Automotive Composite Liftgate Market is likely to witness an impressive CAGR of 6.7% during the forecast period. The prime factor that is contributing to the demand for Automotive Composite Liftgate is the increasing demand for Automotive Composite Liftgate in various industries.
This report on the Automotive Composite Liftgate Market has been put together covering various companies of the industry from different geographies. The study is a perfect blend of qualitative and quantitative research highlighting vital market developments, challenges and competition that the industry might face, along with opportunities and trends available in the Automotive Composite Liftgate Market. The report intends to present a thorough analysis of the Automotive Composite Liftgate Market and provide cutting-edge market intelligence to help decision makers undertake a sound investment evaluation. Besides, the report also classifies and analyses the emerging trends along with major growth drivers.
Automotive Composite Liftgate Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges act as extrinsic factors affecting the market. The report aims at answering several key questions concerning the overall profitability in the market.
Few key players operating in the Automotive Composite Liftgate Market are-
• Magna International Inc.
• Plastic Omnium Group
• Trinseo S.A.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Automotive Composite Liftgate Market value and growth drivers over the trend period of 2019-24. According to the report -
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.
Segment Analysis:
Based on by Vehicle Type:
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.
Based on Regional:
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.
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