Pune, India, Aug. 16, 2023 (GLOBE NEWSWIRE) -- The global automotive sunroof market size was valued at USD 11.17 billion in 2022 and is posied to grow from USD 12.49 billion in 2023 to USD 29.10 billion by 2030, growing at a CAGR of 12.8% during the forecast period. Fortune Business Insights™ published this information in a latest report titled, "Automotive Sunroof Market, 2023-2030."
The global automotive sunroof market research reports offer a comprehensive and insightful analysis of automotive sunroof industry. This report helps to understand the market landscape, trends, opportunities, challenges, and key players. The research employs a combination of qualitative and quantitative methodologies to present a well-rounded view, including data-driven statistics, expert opinions, and market dynamics. By examining factors such as automotive sunroof market size, growth potential, competitive analysis, consumer behavior, and emerging technologies, this reports aims to help the businesses and stakeholders with valuable insights for strategic decision-making and successful market engagement.
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The popularity of automotive sunroofs has increased tremendously in recent years as this component helps maintain an ambient temperature within a car, thereby offering a comfortable driving experience. The sunroof offers ample ventilation inside the car and comes in automated as well as manually operated versions. These aspects are predicted to accelerate the automotive sunroof market growth.
Report Scope & Segmentation
| Report Coverage | Details | |
| Forecast Period | 2023 to 2030 | |
| Forecast Period 2023 to 2030 CAGR | 12.8% | |
| 2030 Value Projection | USD 29.10 billion | |
| Base Year | 2022 | |
| Automotive Sunroof Market Share in 2022 | USD 11.17 billion | |
| Historical Data for | 2019 to 2021 | |
| No. of Pages | 180 | |
Drivers and Restraints:
Rising Installation of Sunroofs in SUVs to Improve Market Outlook
The adoption rate of Sports Utility Vehicles, or SUVs, has increased considerably in recent years, especially in developing economies, such as India and China, as these vehicles are highly versatile in power output, range, and other features. SUVs are also ideal for rough and off-road terrains. These factors have motivated automakers to include innovative features, such as sunroofs in their SUVs, which will further drive market growth.
However, high repair and maintenance costs and a decrease in fuel economy can hamper the market development.
COVID-19 Impacts:
Decreased Vehicle Production and Consumer Demand for New Vehicles During COVID-19 Restricted Market Progress
The COVID-19 pandemic had an adverse impact on the automotive industry as governments across the world had imposed lockdowns and travel restrictions. This period also created a lot of economic uncertainty, which discouraged customers from purchasing new vehicles. Many automakers were also forced to reduce their production capacity to avoid severe losses. These aspects had a negative influence on the market progress of automotive sunroof.
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Report Coverage:
The report analyzes the market in detail and highlights important areas such as competitive landscape, key vehicle classes, and prominent automotive sunroof players. It also provides insights into the latest market trends and covers top industry developments. Besides the abovementioned factors, the report covers several factors contributing to the market growth
Market Segmentation:
Rise in Luxury Vehicle Offerings to Boost Sales of Luxury Cars
By vehicle class, the market is segmented into economical, medium-priced, and luxury. The luxury segment is expected to record the highest CAGR during the forecast period as luxury carmakers are introducing several variants for their products that come with different types of sunroofs. This offers customers a wide selection to choose from.
Rapid Deployment of Infrastructure for ICE Vehicles to Boost Use of ICE Propulsion Systems
Based on propulsion type, the market is segmented into ICE and electric. The Internal Combustion Engine (ICE) segment holds the largest market share as many countries are rapidly deploying the infrastructure for ICE vehicles. These include the distribution, production, and use of traditional fossil fuels, such as diesel and gasoline, thereby making it easier for customers to purchase ICE vehicles.
Technological Innovations in Glass Sunroofs to Boost their Sales
Based on material type, the is bifurcated into glass and fabric. The glass segment held the largest market share in 2022 as sunroofs made from this material are undergoing technological advancements. These include improvements in sunroof glazing, which can decrease overhead safety issues.
High Visibility to Increase Adoption of Panoramic Sunroofs
In terms of product type, the market is segmented into panoramic sunroofs, in-built sunroofs, and others (tilt & slide, pop up, and top mounts). The panoramic sunroof segment has accounted for the largest market share as it offers high visibility to both the front and rear seat passengers.
Convenience, Ease of Use, and Great Functionality to Improve Demand for Electric Sunroofs
Based on operation type, the market is divided into electric and manual. The electric segment holds the largest market share as this type of sunroof offers great convenience and can be operated with ease by passengers. Electric sunroofs are equipped with high-end features, enabling passengers to operate them in different positions.
With respect to region, the market covers North America, Europe, Asia Pacific, and Rest of the World.
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Regional Analysis:
Asia Pacific to Dominate Global Market with Rising Demand for Premium Vehicles
The market in Asia Pacific is set to dominate the global market. This is attributed to the fact that the demand for high-end vehicles is rising at a strong rate due to notable growth in the disposable income of the regional population. Manufacturers across the region are also increasing their investments to boost their production capacity to fulfill the growing product demand.
Europe might capture the second-largest automotive sunroof market share due to rise in passenger car sales and presence of leading high-end vehicle manufacturers such as Mercedes-Benz, Audi, and BMW.
Competitive Landscape:
Key Companies to Increase Their Product Offerings to Boost Market Presence
Some of the major automotive sunroof players include CIE Automotive, Webasto Group, and Inalfa Roof Systems Group BV. These companies are focusing on expanding their product offerings by incorporating advanced technologies to expand their market presence and gain a strong competitive edge.
List of the Companies Operating in the Market:
- Webasto Group (Germany)
- CIE Automotive (Spain)
- Inteva Products LLC (U.S.)
- Inalfa Roof Systems Group BV (Netherlands)
- Valmet Automotive (Spain)
- Johnan America Inc. (U.S.)
- Yachiyo Wuhan Manufacturing Co., Ltd. (Japan)
- Magna International Inc. (Canada)
- Mitsuba Corporation (Japan)
- AISIN SEIKI Co. Ltd (Japan)
Segmentation:
Major Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Porters Five Forces Analysis
- PEST Analysis
- Technological Development
- Impact of Covid-19
- Global Automotive Sunroof Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Definitions
- Market Analysis, Insights and Forecast – By Vehicle Class
- Economical
- Medium Priced
- Luxury
- Market Analysis, Insights and Forecast – By Propulsion Type
- ICE
- Electric
- Market Analysis, Insights and Forecast – By Material Type
- Glass
- Fabric
- Market Analysis, Insights and Forecast – By Product Type
- Panoramic Sunroofs
- In-Built Sunroof
- Others (Tilt & Slide, PoP Up and Top Mount)
- Market Analysis, Insights and Forecast – By Operation Type
- Electric
- Manual
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of the world
Toc Continues…..
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KEY INDUSTRY DEVELOPMENTS:
March 2023: AISIN revealed that its panoramic sunroof was used in the EQS and EQE SUVs, the flagship models of Mercedes-Benz's Battery Electric Vehicle (BEV) brand, Mercedes-EQ. This is the first time an AISIN sunroof has been used in Mercedes-Benz's BEVs. The panoramic sunroof provides illumination for rear seats, offers quietness suitable for BEVs, and has a sophisticated appearance, enhancing the vehicles' luxurious appearance and comfort.
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