Automotive Sunroof Market 2022: Emerging Growth Rate by Global Size, Industry Share & Forecast 2030
Research Reports
Mar 10, 2022
Market Overview –
According to Market Research Future (MRFR), Automotive Sunroof Market is projected to be worth USD 39.68 billion, and register a CAGR of 10.39% during the forecast period., The market was valued at USD 21.25 billion in 2021. Increasing consumer preference for alternative fuel vehicles, such as hybrid power and solar power, influences automotive sunroof market size due to rising fuel prices.
The global automotive sunroof market is ascending continually. The market growth attributes to the rising developments of advanced and diversified technologies, creating exciting opportunities in the automotive industry. Luxury cars sales and vehicle owning capacity worldwide have been growing continually with the rising economic growth.
The growing production of customized sunroofs tracks is a major trend, creating substantial market demand. The demand for sunroof witnessed a spike over the past few years, garnering popularity, especially among youngsters. With the ever-increasing demand for innovative sunroof solutions increasing with rising automobile production, the market value is expected to escalate constantly during the years to come.
Additionally, rising developments of sunroofs with built-in solar cells that can power vehicles push market revenues. Growing technological upgrades and increasing demand for luxury cars foster market growth, bringing about customized parts designed per customer requirements. Rapid industrialization worldwide escalates the demand for sunroofs.
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Moreover, significant developments in component materials combined with increasing factory-installed sunroofs positively impact the market demand. Increasing research and development initiatives by industry players to shift production plants to advantageous locations for short-distance supply reducing the overall costs, substantiates market growth.
Global Automotive Sunroof Market – Competitive Analysis
Highly competitive, the automotive sunroof market looks fragmented with the presence of several well-established and notable players. Matured market players incorporate strategic initiatives such as acquisition, collaboration, expansion, and technology launch to gain a competitive advantage.
Key players in the global Automotive Sunroof Market are-
The key players of the global automotive sunroof Market are Webasto Group, Inalfa Roof Systems Group B.V., Inteva Products, Yachiyo Industry Co. Ltd, and Magna International Inc., Johnan Manufacturing Inc., Wuhu Mosentek Automobile Technology Co., Ltd, Aisin Seiki Co. Ltd, Wuxi Ming Fang AutoMobile Parts Industry Co., Ltd, and Zhejiang Wanchao Electric Co., Ltd.
Global Automotive Sunroof Market – Segments
The report is segmented into type, application, sales channel, and region. The type segment is bifurcated into spoiler sunroofs, inbuilt sunroofs, pop-up sunroofs, panoramic sunroofs, and others.
The application segment is sub-segmented bifurcated into Sedan, SUV, Hatchback, and others. Similarly, the sales channel segment is bifurcated into Aftermarkets and OEMs. The region segment is bifurcated into Asia Pacific, Americas, Europe, and rest-of-the-world.
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Regional Insight
Automotive sunroof industry can be geographically dissected into Europe, North America, APAC/Asia Pacific and RoW/the rest of the world.
With a 33.40% share in the global market, Europe is the current leader, followed by APAC and North America with respective shares of 28.36% and 28.26%.
In 2017, European market was led by Germany, where the value accounted to USD 1,263 million. The automotive sunroof market in the region is expanding vigorously on account of skyrocketing sales of premium vehicles combined with the rising consumer inclination towards luxury features. The sales of these vehicles are also favored by the strong financial conditions of the region, with people demanding luxury and comfort features in almost every vehicle. The demand for the smart glass technology integrated with sunroof has shot up significantly in recent years, since they have more control on key aspects such as heat and light emissions, and also help bring down the use of HVAC units for inner temperature maintenance in the vehicle.
Thanks to the mounting demand for wind deflectors in vehicles and the rising use of sunroofs in sedans, hatchbacks and SUVs, APAC has gained the second spot in the automotive sunroofs market. Many of the manufacturing firms in the region are spending massively on the development activities to bring down the weight and boost the overall strength to innovate the standard automotive sunroof.
Continue…….
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