Nov. 06, 2024
As the global automotive market shifts towards electrification and intelligent technology, the power liftgate has become a standard feature in mid-to-high-end models and SUVs. The demand for power liftgates has steadily increased in recent years, particularly for popular models like the Toyota RAV4 from 2013 to 2018. In 2024, the global automotive parts market for power liftgates is expected to experience significant growth, presenting a valuable business opportunity for importers, traders, and automotive dealers. These stakeholders need to capitalize on this demand by providing precise and tailored product support for different vehicle models.
According to the latest report from Market Research Future, the global power liftgate market is projected to exceed USD 4.5 billion by 2024, with a compound annual growth rate (CAGR) of 7.2%. North America and Europe remain the leading markets, while the Asia-Pacific region, particularly China and India, is seeing rapid growth. Consumer demand for convenience and comfort continues to rise, making power liftgates an increasingly popular choice, especially in SUVs and crossovers.
Among these markets, the Toyota RAV4 has become a key model for power liftgate applications, due to its strong sales and customer base. Since 2013, Toyota RAV4 has increasingly adopted power liftgate designs, providing consumers with greater comfort and convenience. The 2013-2018 RAV4 models, in particular, have seen strong sales, creating a significant market for related automotive parts.
The power liftgate struts (e.g., model 09015) for the 2013-2018 Toyota RAV4 represent a growing demand primarily driven by part replacements, repairs, and the used car market. These struts are crucial to the liftgate's overall stability and operation, directly influencing its opening and closing functions and longevity. As a result, providing high-quality power liftgate struts has become an essential business area for automotive parts distributors.
Specifically, one of the key trends in the power liftgate strut market for 2024 is the demand for "personalization" and "durability." Consumers are no longer only seeking convenience but also longer-lasting, stronger, and safer components. For global auto parts suppliers, this means that offering high-quality, innovative designs for power liftgate struts will be key to capturing market share.
For example, for the Toyota RAV4 2013-2018 models, struts like the 09015 model can stand out in the market by focusing on durability. Using advanced sealing technology and high-strength materials will not only enhance product reliability but also reduce maintenance costs and extend the replacement cycle, boosting customer satisfaction.
For global auto parts importers, traders, and dealers, 2024 represents a major opportunity. According to Statista, the global auto parts market is expected to reach USD 250 billion in 2024, with power liftgate-related products making up a significant portion. Given the high demand for power liftgates in popular models like the Toyota RAV4, the distribution of liftgate struts is becoming a critical business segment for automotive dealers.
The growth of the power liftgate strut market is driven by several factors:
Increased consumer demand for high-quality, durable parts. As the age of vehicles increases, vehicle owners are replacing power liftgate components more frequently. According to research by Global Data, over 40% of vehicle owners report replacing their power liftgate components in vehicles over five years old.
The rise of the used car market. In key markets such as North America and Europe, the used car market is growing steadily. Power liftgate struts, being a commonly replaced part, are in high demand for used car repairs and maintenance. According to JATO Dynamics, the demand for power liftgate struts in the used car market has grown by over 6%.
The rise of smart power liftgates. In 2024, more automakers are introducing power liftgates with integrated smart functions, creating new growth opportunities in the market. The adoption of smart power liftgates is expected to drive demand, especially in premium SUVs and crossovers.
With the rise of electric vehicles (EVs) and intelligent cars, the design and application of power liftgates are becoming increasingly focused on smart technologies. In the future, power liftgate struts will not only need to provide basic support but also integrate more intelligent features, such as automatic sensing, remote control, and even deep integration with the vehicle’s electronic systems. Consumers' demand for smarter, more personalized features will further drive innovation in the auto parts industry.
For example, future power liftgate struts may incorporate more sensors to monitor the liftgate’s status, detect obstacles, and provide real-time feedback. These advanced features will enhance consumer experience and contribute to the overall technological evolution of the automotive parts market.
In 2024, the global power liftgate market is set for continued growth, with a particular focus on power liftgate struts for popular models like the Toyota RAV4 2013-2018. This presents an ongoing opportunity for importers, traders, and automotive dealers to meet the increasing demand for these essential components.
For the global auto parts industry, understanding market trends and catering to consumer demands for convenience, safety, and intelligent features will be key to staying competitive. Power liftgate struts, as a crucial component of this evolving market, will remain an important area of growth for parts suppliers and distributors worldwide.
