Market Analysis
Market Research Future (MRFR) expects the global automotive sunroof market to hit USD 12,447.0 million at an 8.96% CAGR from 2018–2023 (forecast period).
An automotive sunroof is mounted on vehicles to enhance the appearance of the vehicle and to reduce wind noise. It is an adjustable glass panel on the automotive roof that, depending on the vehicle type, can be operated manually or automatically. Furthermore, there are different types of automotive sunroofs, such as in-built and panoramic, that provide natural light, improved ventilation, and open-air driving. Furthermore, automotive sunroofs can be fixed or sliding, opaque or transparent, and even include a visor block that blocks light from the passenger cabin.
Get free sample report @ https://www.marketresearchfuture.com/sample_request/7679
The increased demand for lightweight and impact-resistant sunroofs is anticipated to push innovations and developments in the global market by the major manufacturers. Manufacturers like Webasto Group, Inteva Products, and Inalfa Roof Systems Group B.V. are strongly investing in the R&D of automotive sunroof technologies, especially sunroof. For example, the Webasto Group recently introduced a sunroof glass using polycarbonate as a raw material to manufacture the sunroof, which improved the glass's toughness, impact resistance, and effectiveness. Manufacturers are continuing to invest in the advancement of switchable glazing, ambient lighting, and solar panels in sunroofs. As a result, such investments are expected to have an impact on demand for advanced sunroofs equipped with cutting-edge technology during the forecast period. Transparency and 3D formability can also be obtained by incorporating additional light sources and sensors in polycarbonate as opposed to glass. Because of its low cost and ease of availability, conventional technology has a very high penetration rate in developing regions. Automotive sunroof manufacturers have begun to invest in research and development activities to reduce weight and increase strength in order to improve the conventional automotive sunroof.
However, such developments are in their early stages and are expected to accelerate by the end of the assessment period with the increasing market penetration. Thus, during the forecast period, the impact of innovation and developments in sunroof technology on the automotive sunroof market is predicted to shift from moderate to high.
Nevertheless, the low penetration in entry-level vehicles and the high manufacturing cost of sunroofs raise the overall cost of a vehicle. The sunroof includes a number of expensive components, such as a rain sensor, a console controller, and unbreakable glass panels. Moreover, continuous technological advancements in sunroof systems to improve operational efficiency necessitate a large investment in research and development, which raises the cost of sunroof systems, causing the price of automobiles to rise, impeding the growth of the global automotive sunroof industry.
COVID-19 Impact on the Global Automotive Sunroof Market
Implementation of a set of rules by governments of different nations to deal with the COVID-19 crisis, such as a full shutdown of manufacturing units, is found to have an impact on the development of the global automotive sunroof industry.
Market Segmentation
The global automotive sunroof industry has been segmented into type, application, and sales channels.
By type, the global automotive sunroof market has been segmented into the inbuilt sunroof, spoiler sunroof, panoramic sunroof, pop-up sunroof, and others.
By application, the global automotive sunroof market has been segmented into SUVs, sedans, hatchbacks, and others.
By sales channel, the global automotive sunroof market has been segmented into OEM and Aftermarket.
Regional Analysis
Region-wise, the global automotive sunroof market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
During the forecast period, Europe is expected to have the largest share of the global market with 33.40%, followed by the Asia Pacific and North America with 28.36% and 28.26%. In 2017, Germany was the largest market in Europe, with a market value of USD 1,263 million. The rising demand for premium vehicles and the increasing consumer preference for comfort features have led to the increased adoption of sunroofs in passenger vehicles throughout the region, driving the growth of the automotive sunroof market in Europe.
Key Players
Numerous players active in the global automotive sunroof market are Webasto Group, Wuhu Mosentek Automobile Technology Co., Ltd, Inteva Products, Inalfa Roof Systems Group B.V., Yachiyo Industry Co. Ltd, and Magna International Inc., Aisin Seiki Co. Ltd, Wuxi Ming Fang AutoMobile Parts Industry Co., Ltd, Johnan Manufacturing Inc., and Zhejiang Wanchao Electric Co., Ltd.
Summary
The global automotive sunroof market is set to hit USD 12,447.0 million at an 8.96% CAGR from 2018–2023 (forecast period). An automotive sunroof is placed on vehicles to enhance their appearance and prevent wind noise. It is an adjustable glass panel on the roof of an automotive that can be operated manually or automatically, based on the vehicle type. Moreover, there are various kinds of automotive sunroofs, like in-built and panoramic, that provide natural light, improved ventilation, and open-air driving. Additionally, auto sunroofs can be fixed or sliding, opaque or transparent, and even include a visor block that blocks light from the passenger cabin.
Table of content
1 Executive Summary
2 Market Introduction
2.1 Definition 19
2.2 Scope Of The Study 19
2.1 List Of Assumptions 20
2.2 Market Structure 20
3 Research Methodology
3.1 Research Process 22
3.2 Primary Research 22
3.3 Secondary Research 23
3.4 Market Size Estimation 23
3.5 Forecast Model 24
4 Market Dynamics
4.1 Introduction 26
4.2 Drivers 27
4.2.1 Increase In Demand For Premium Vehicles And SUVs 27
4.2.2 Innovation And Developments In Sunroof Technology 28
4.2.3 Rise In Demand For Comfort And Convenience Features 28
Continued………
Ask for your specific company profile and country level customization on reports.
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/automotive-sunroof-market-7679
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
Contact Us:
Market Research Future
Office No. 524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com
Also Read More From MRFR:
