Market Summary -
According to Market Research Future (MRFR) expects the automotive sunroof market 2022 to record a decent growth rate of 8.96% forecast period. the global market can reach USD 12,447.0 million, confirms MRFR. We will provide COVID-19 impact analysis with the report, offering detailed market developments following the coronavirus disease outbreak.
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.
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Top Boosters and Key Challenges
The automotive sunroof market’s growth has been significantly affected by the COVID-19 outbreak, and the situation has only worsened given the increasing spread of the pandemic. The well-established production and manufacturing units of leading companies in Wuhan, China, witnessed a sharp drop in the production level of sunroof products. Also, the consequent worldwide lockdown post the widespread SARS-CoV-2 disrupted the global supply chains and the production capacity activities, which resulted in a weakened demand from a number of automotive customers as well as manufacturers.
Since the shutting down of a majority of the manufacturing units across the globe, the automotive as well as the semiconductor industries have come to a halt, thereby slowing down the growth of the automotive sunroof market. However, despite the COVID-19 impact, the escalating demand for impact-resistant and lightweight sunroof can boost innovations by the prominent manufacturers. Manufacturers including Inteva Products, Inalfa Roof Systems Group B.V. and Webasto Group are spending considerably on extensive research and development of advanced sunroof technologies, which can help reverse the negative impact of the novel coronavirus.
The market for sport utility vehicle/SUV has been observing substantial sales, thanks to their high affordability as well as low cost of ownership, which can also benefit the market, since most of the SUVs have sunroofs. Further, manufacturers and leading brands are launching latest car models that have advanced sunroof to cater to the increasing consumer demand worldwide.
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.
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.
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