Automotive Sunroof Market Overview:
Automotive sunroof market is projected to
grow from USD 17.9 Billion in 2023 to USD 39.5 billion by 2032, at a CAGR of
10.39%
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.
According to Market Research Future (MRFR),
the global automotive sunroof market is estimated to witness a colossal upsurge
by 2032, growing at an impressive CAGR during the forecast period (2023 –
2032). Increasing consumer preference for alternative fuel vehicles, such as
hybrid power and solar power, influences automotive sunroof market size due to
rising fuel prices.
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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Report of Automotive Sunroof Market
Global Automotive Sunroof Industry/
Innovation/ Related News:
Sep.03, 2021 ---- BASF announced the development of a new automotive panoramic roof -
Ultradur PBT, which has been jointly developed with Grupo Antolin (Spain), a
Tier I automotive supplier. The new automotive sunroof frame is made with 60%
lighter material than traditional solutions, and it is expected to replace
steel in the structural bracket of sunroof headliners. The newly developed
panorama roof would meet the increasing demand for panoramic roofs and reduce
the weight of all automotive components to minimize CO2 emissions.
Major Players:
Players leading the global automotive
sunroof market include Inalfa Roof Systems (Netherlands), Webasto (U.S.),
Inteva (U.S.), Aisin Seiki (Japan), Magna International (Canada), Nippon Sheet
Glass Co., Ltd (Japan), Yachiyo Industry Company Ltd. (Japan), Automotive
Sunroof Company (Canada), BOS (Germany), and Preh IMA Automation (PIA)
Evansville (U.S.), among others.
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 -
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.
Global Automotive Sunroof Market -
Regional Analysis
Europe dominates the global automotive
sunroof market. The largest market share is attributed to several notable
players and the rising consumer preference for installing automotive
sunroofs.
Germany holds the largest market share
followed by the U.K. and France, owing to its leading automakers and smart
technologies. The European automotive sunroof market is projected to retain its
dominance throughout the estimated period.
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.
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