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(Transportation-News.com, February 22, 2019 )
As per the latest market intelligence report published by Stratview Research, the Automotive Composite Liftgate Market is anticipated to reach at US$ 1,183.3 million by 2024.
The research studies Automotive Composite Liftgate Market in the trend period of 2013 to 2018 and forecasted period of 2019 to 2024 under three segments by Vehicle Type (Hatchback, SUV, and Others), by Manufacturing Process Type (Compression Molding, and Injection Molding), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024
The study finds –
Europe to remain the largest market for composite liftgates, European OEMs such as Group PSA, Groupe Renault, and BMW AG have been the early movers in adopting composite liftgate, which has led to the dominance of the region in the global market.
Hatchback is likely to remain the most dominant vehicle type, Renault Clio and Megane, Peugeot 308 and 508, and BMW i3 are some key hatchback models that contain composite liftgate.
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.
Click here to read the detailed description: https://www.stratviewresearch.com/446/Automotive-Composite-Liftgate-Market.html
Go through the TOC: https://www.stratviewresearch.com/toc/446/Automotive-Composite-Liftgate-Market.html
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. Composite liftgate account 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 experienced a significant change in the selection of materials over the period.
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Stratview Research
Ritesh Gandecha
+1-313-307-4176
sales@stratviewresearch.com
Source: EmailWire.Com 
Source: EmailWire.com
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