LONDON--(EON: Enhanced Online News)--Technavio has announced the top five leading vendors in their recent global automotive power tailgate system market report until 2021. This research report also lists four other prominent vendors that are expected to impact the market during the forecast period.
|The global automotive power tailgate system market is predicted to grow at a CAGR of almost 12% through the forecast period, expected to grow to 91.05 million units by 2021. EMEA occupies the majority share of this market, and over 40% of the incremental growth is expected to originate from the region.|
The main factors pushing for the healthy growth of this market is the increasing need for safety, performance, stability, and comfort. Additionally, various governmental agencies are pushing for a standard deployment of advanced driver assistance systems (ADAS), use of active safety systems, anti-intrusion and anti-theft systems, and automatic emergency braking systems. Additionally, with the increasing penetration of electric vehicles, this market is set to grow at a healthy rate through the forecast period.
Competitive vendor landscape
The global automotive power tailgate system market is witnessing the dominance of a few established players that are the manufacturers and the suppliers of power operated tailgate systems and components systems. The major competition in the market is likely to intensify due to vehicle downsizing, improving fuel efficiency, and autonomous vehicles. The highest adoption for this technology is seen in Europe, North America, and Japan owing to the greater emphasis on vehicle safety, comfort, and convenient systems while purchasing a vehicle.
“HUF Group, Johnson Electric, Brose, and Mitsuba are the notable players that account for more than 40% of the global market in terms of revenue. Unlike any other industry, the automotive industry is governed by strict regulations and standards, which will increase adoption and enhance the profitability of advanced vehicle access systems,” says Siddharth Jaiswal, one of the lead analysts at Technavio for automotive electronics research.
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Top five automotive power tailgate system market vendors
Brose develops products that enhance vehicle safety, comfort, and efficiency. The company invests 8% of its annual revenue, on an average, in R&D. The company develops and manufactures various components that form an integral part of the efficient functioning of the tailgate system. The latch and the latch model developed for tailgate closure system features an integrated free-wheel crash and central locking system, which helps in reducing the overall weight of the vehicle. The company’s lift gate system is integrated into plastic and metal tubes with an optional overload clutch and friction brake.
HUF Group develops and produces electronic and mechanical key systems, steering locks, lock sets, telematics, remote control systems, and tire pressure monitoring systems for the automotive market. The company first developed and manufactured lock sets for Mercedes-Benz back in 1920. The tailgate components manufactured by the company includes tailgate components carriers, electric latches, and emblem enclosures among others.
Johnson Electric designs and manufactures control systems, motion products, and flexible interconnects. The key industries served by the company include automotive, business machines, building, automation and security, defense and aerospace, HVAC, home technologies, power equipment, and tools. As the automotive industry is shifting toward vehicle downsizing and electrification of components, automobile manufacturers must develop smart solutions for the same.
Mitsuba manufactures electrical components for four-wheeled vehicles and develops motor control and mechanism technologies for motorcycle components, nursing care equipment, and car accessories. The company manufactures electrical products for the automotive industry, which mostly includes systems and components for automobile safety and comfort. The technologies developed by the company offer convenience, comfort, enhanced vision, and drive control.
Stabilus manufactures hydraulic dampeners, gas springs, and electromechanical drives. The company’s primary segment includes automotive, POWERISE, industrial and swivel chair covering industries ranging from manufacturing systems to furniture industry. The company designs and manufactures gas springs and automatic lid motor for convenient opening and closing of the trunk lid. The POWERISE system developed by the company enables quick and fast operation of the tailgate system. The system is also enabled with anti-pinch technology to stop the closing of the tailgate in any position upon detection of any obstruction.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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