Selbyville, Delaware, April 16, 2020 (GLOBE NEWSWIRE) -- Convertible roof system market reached a valuation of USD 1.3 million in 2018 and is estimated to accrue substantial gains while growing at an anticipated CAGR of more than 7.12 per cent over 2019-2026. Convertible roof system is gaining momentum these days owing to high consumer inclination towards novel innovations in car roof market segment.
The report offers a thorough understanding on the production volume and value of the market at the global, domestic, and company levels. The industry trends across North America, Asia Pacific, Latin America, Europe, and Rest of the World are also enveloped in detail in this report. The market analysis further encompasses information on the competitive landscape of the industry, including the robust presence of top notch players, their growth tactics, and business share in the global convertible roof system market.
Vehicles equipped with a convertible roof system possess the ability of operating with or without a roof in place. Moreover, the methodologies of retracing the roof vary from model to model, increasing the scope of expansion of convertible roof system market. A convertible roof system potentially authorizes an open-air driving experience for the customer with the ability of providing a roof when required. In recent years, it has been observed that customers are vividly opting for vehicles with a classic and sporty look, thereby driving the demand for convertible roof systems.
Convertible vehicles are equipped with innovative features like roof and door frames, head room, and others that are exclusively manufactured in both Sedan and SUVs, Hatchback, but are majorly dominated by the presence on Sedan models.
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Fundamental factors influencing the growth of convertible roof system market include increasing vehicle production and massive demand for superior quality segment vehicles – that further increase the need for convertible roof systems.
However, the increasing penetration of panoramic sunroofs in these systems across SUVs has been marked to impede the global market growth in the upcoming years.
The convertible roof system market is widely spread across various geographies such as Asia Pacific, Europe, North America, Latin America, and ROW. According to the report analysis, North America has emerged to be a lucrative growth ground for the convertible roof system market, followed by the Asia Pacific, which is touted to exhibit phenomenal gains in the upcoming years.
Considering the competitive landscape, convertible roof system industry is highly consolidated and boasts the presence of prominent leaders like Continental, Aisin Seiki, Valmet Automotive, Magna International, Webasto, and several others. These contenders engage themselves in M&As to bolster their reach across the global market.
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Worldwide convertible roof system industry is segmented on the basis of vehicle class type, electric vehicle type, body style type, material type, region, and competitive landscape.
Convertible Roof System Market Vehicle Class Type Analysis (Revenue, USD Million, 2016-2026)
- Semi-Luxury Vehicles
- Luxury Vehicles
Convertible Roof System Market Electric Vehicle Type Analysis (Revenue, USD Million, 2016-2026)
- BEV (Battery Electric Vehicle)
- FCEV (Fuel Cell Electric Vehicle)
- HEV (Hybrid Electric Vehicle)
- PHEV (Plug-In Hybrid Vehicle)
Convertible Roof System Market Body Style Type Analysis (Revenue, USD Million, 2016-2026)
- Sedan/Hatchback
- Sport Utility Vehicle (SUV)
- Others
Convertible Roof System Market Material Type Analysis (Revenue, USD Million, 2016-2026)
- PVC
- Carbon Fibre
- Others
Convertible Roof System Market Regional Analysis (Revenue, USD Million, 2016-2026)
North America
- U.S.
- Canada
Asia Pacific
- China
- India
- Japan
Europe
- UK
- Germany
Latin America
- Brazil
- Mexico
Rest of the World
Convertible Roof System Market Competitive Landscape Analysis (Revenue, USD Million, 2016-2026)
- Valmet Automotive
- Aisin Seiki
- Webasto
- Magna International
- Continental
- Standex International
- Hoerbiger
- Haartz
- Gahh Automotive
- Pininfarina
Related Report:
Automotive Sunroof Market Share & Forecast, 2019 – 2025
Automotive Sunroof Market size estimated to exhibit 10% CAGR from 2019 to 2025; as per new research report. Increasing vehicle sales along with rising preference of consumers to opt for vehicles with enhanced aesthetics and technologically advanced features are driving the automotive sunroof market. Improvements in glass technologies along with the increasing adoption of scratch resistant and toughened unbreakable glass are gaining prominence in the industry.
Technology advancements including the incorporation of sensors and components for felicitating automatic sunroof operation are positively influencing the automotive sunroof market share. Additionally, automobile OEMs are integrating advanced components, that operates the sunroofs automatically, upon the detection of rain.
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