Automotive Closure Market

Market Leader - Powered Gates Market

The powered gates market is projected to grow at a CAGR of 7.75% from 2017 to 2022, and the market size is expected to grow from USD 17.43 Billion in 2017 to USD 25.31 Billion by 2022. The market growth is primarily driven by factors such as rising consumer demand for comfort and luxury features and increasing concern toward safety and hands-free operations. Another significant factor responsible for the growth of the powered gates market is the increasing demand for electric vehicles in the near future.

Expansion is a key strategy adopted by key players in this market to gain traction in the market. For instance, Aisin Seiki. Co. Ltd (Japan) has invested more than USD 99.9 Million to expand its manufacturing operations in Seymour, US in 2016. Likewise, Magna International Inc. (Canada) has expanded its Dortec manufacturing facility to produce electronic systems and modules for automotive closure system in 2014. Mergers & acquisitions is the second most widely followed strategy. For instance, Panasonic Corporation (Japan) has merged its two wholly owned subsidiaries, Panasonic Industrial Devices Obihiro Co., Ltd. (PID Obihiro, Japan) and Panasonic Industrial Devices Taiko Co., Ltd. (PID Taiko, Japan) in 2016.

The powered gates market is dominated by a few global players and comprises several regional players. Continental AG (Germany) is a leading player in the powered gates market. The company has a strong product portfolio related to powered gates systems covering power liftgate modules, sliding door control units, power convertible roofs control units, power sunroof control units, and motor integrated power window lifter control units. The company caters to different vehicle segments including passenger cars, commercial vehicles (truck and bus), and electric vehicles. Its key clients include OEMs such as General Motors (US), Volkswagen AG (Germany), Ford Motor Company (US), and Daimler AG (Germany). The company has adopted the strategy of expansion to increase its presence in the powered gates market. For instance, Continental AG and Inmarsat PLC (UK) has decided to expand its product and service portfolio to offer Over-The-Air (OTA) updates of electronic control units across the entire vehicle in 2017.

Magna International Inc. (Canada) is identified as the second leading player in the powered gates market. The Magna closure division has a vast product portfolio in the powered gates segment as it offers complete modules for power lift gates, power sliding doors, and power deck lids. The company expects electronic closure and latching technologies to be a game-changer for the industry in the near future and eventually become the future design of closure systems. Its major customers include Aston Martin Lagonda Limited (UK), BMW (Germany), Ford Motor Company (US), General Motors (US), and Volvo Group (Sweden). The key strategy followed by the company is mergers & acquisitions to gain a competitive advantage in the powered gates market. In 2016, the company acquired the BÖCO Group of Companies (Germany), to bolster its product portfolio and engineering capabilities in key regions such as Europe and Asia Oceania. Similarly, in 2015, the company acquired the head-up display and electronics components business units of Philips & Lite-On Digital Solutions (PLDS) to expand its electronics product portfolio.

Related Reports:

Powered Gates Market for EV & ICE by Application (Powered - Window, Sunroof, Tailgate, Convertible Roof, Sliding Door, and Side Door), Component (Switch, ECU, Latch, Motor/Actuator, Relay), Type (Manual and Powered), and Region - Global Forecast to 2022

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Report Code
AT 5566
Published ON
Sep, 2017
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