Automotive Sunroof Market Worth Usd 13,151.93 Million By 2030, Growing At Cagr Of 9.4%

(MENAFN- GlobeNewsWire - Nasdaq) New York, July 05, 2023 (GLOBE NEWSWIRE) -- As per the research report“Global automotive sunroof market ” published by Consegic Business Intelligence, the market was worth USD 6,536.87 Million in 2022 and is anticipated to reach over USD 13,151.93 Million by the year 2030, growing at a CAGR of 9.4 %.

An automotive sunroof is a movable panel installed in an automobile roof that slides open to uncover to allow fresh air and light to enter the automobile cabin. Automotive sunroofs are optimized to provide illumination for rear seats and offer an aesthetic appearance, in turn contributing to the automobile's luxurious appearance and ride comfort.

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The increasing utilization of automotive sunroofs in passenger cars is one of the key factors driving the market growth. Moreover, the increasing investments in automobile manufacturing facilities and rising passenger car production are key factors fostering the market demand for automotive sunroofs. For instance, according to the Germany Trade & Invest (GTAI), the total production of passenger cars in Germany reached 3.1 million in 2021, making Germany Europe's leading automobile production site. Hence, the rising production of passenger cars is driving the adoption of automotive sunroofs for offering enhanced ventilation and improved lighting within car cabins, thereby, driving the growth of the market.

Additionally, the rising application of automotive sunroofs in commercial vehicles is expected to promote potential opportunities for the growth of the automotive sunroof market. Automotive sunroofs are often installed in commercial vehicles including trucks, buses, and others for providing improved air circulation within the vehicle cabin and ensuring proper ventilation. Moreover, the ability of automotive sunroofs to offer improved ventilation, enhanced external visibility, aesthetic appeal, and enhanced driving experience are key determinants for increasing its utilization in commercial vehicles. However, the high cost associated with the deployment of automotive sunroofs is hindering the growth of the market.

Report Attributes	Report Details
Market Size By 2030	USD 13,151.93 Million
Forecast Period	2023-2030
CAGR (2023-2030)	9.4%
Base Year	2022
Study Timeline	2017-2030
Key Players	Webasto Group, CIE Automotive, Yachiyo Industry Co. Ltd, Inalfa Roof Systems Group B.V., Inteva Products, Johnan Manufacturing Inc., AISIN CORPORATION, Magna International Inc., Signature Automotive Products, and Wuhu Motiontec Automotive Technology Co. Ltd.
By Type	In-Built Sunroof, Pop-up Sunroof, Folding Sunroof, Panoramic Sunroof, and Others
By Vehicle Type	Passenger Cars, Commercial Vehicles, and Electric Vehicles
Report Coverage	Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more
By Region	North America, Europe, Asia-Pacific, Latin America, Middle East & Africa

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Automotive Sunroof Market Growth Drivers:

• Rising installation of automotive sunroof in passenger cars is driving the market growth.
• Increasing adoption of automotive sunroof in electric vehicles is spurring the market growth.

Restraints

• High cost of automotive sunroof is restraining the market growth.

Opportunities

• Rising application of automotive sunroof in commercial vehicles is expected to promote potential opportunities for market growth.

Global Automotive Sunroof Market Segmentation Details:

Based on type, the in-built sunroof segment contributed the largest shares to the market growth in 2022. The ability of in-built sunroofs to open completely and provide an enhanced aesthetic and ambient light into the car are prime aspects driving the growth of the segment. Moreover, the increasing utilization of in-built sunroofs in passenger cars is driving the growth of the in-built sunroof segment.

Based on vehicle type , the passenger car segment accounted for the maximum revenue share in the year 2022. Automotive sunroofs are primarily used in passenger cars to provide enhanced ventilation and improved lighting within car cabins. Moreover, the installation of automotive sunroofs in passenger cars also provide an alternative escape route in case of emergencies. Factors including rising disposable income, expansion of automotive manufacturing facilities, and increasing need for safety and instruction labels in cars are among the key prospects boosting the growth of the passenger car segment.

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Based on region , North American region accounted for the largest revenue share in the year 2022. Factors including the rising investments in the development of automobile manufacturing facilities and increasing automotive production are driving the growth of the automotive sunroof market in North America. Moreover, the rising government initiatives for the adoption of electric vehicles are further projected to boost the market growth in North America during the forecast period.

Recent Developments

• In June 2021, Webasto Group announced that its sliding panoramic sunroof has been adopted in the Mercedes-Benz S-Class model. The panoramic sunroof system is capable of operating through gesture and voice control.

Key Market Highlights

• Globally, automotive sunroof market is divided based on the type into in-built sunroof, pop-up sunroof, folding sunroof, panoramic sunroof, and others.
• In the context of vehicle type, the market is separated into passenger cars, commercial vehicles, and electric vehicles.
• The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
• North America and Asia-Pacific are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in automotive sunroof market.

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List of Major Global Automotive Sunroof Market Players

The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment -

. Webasto Group

. CIE Automotive

. Yachiyo Industry Co. Ltd

. Inalfa Roof Systems Group B.V.

. Inteva Products

. Johnan Manufacturing Inc.

. AISIN CORPORATION

. Magna International Inc.

. Signature Automotive Products

. Wuhu Motiontec Automotive Technology Co. Ltd.

Global Automotive Sunroof Market Segmentation:

• By Type

• In-Built Sunroof
• Pop-up Sunroof
• Folding Sunroof
• Panoramic Sunroof
• Others

• By Vehicle Type
  • Passenger Cars
  • Commercial Vehicles
  • Electric Vehicles

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Key Questions Covered in the Automotive Sunroof Market Report

• What is automotive sunroof?

- An automotive sunroof is a movable panel installed in an automobile roof that slides open to uncover to allow fresh air and light to enter the automobile cabin.

• What is the dominating segment in the automotive sunroof market by type?

- In 2022, the in-built sunroof segment accounted for the highest market share in the overall automotive sunroof market.

• Based on current market trends and future predictions, which geographical region will have the largest impact on automotive sunroof growth in the coming years?

- North America accounted for the largest revenue share in the year 2022. The increasing investments in the expansion of automobile manufacturing facilities, growing adoption of electric vehicles, and rising automotive production is driving the growth of the regional market.

• Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030?

- Asia-Pacific is anticipated to register fastest CAGR growth during the forecast period due to rapid pace of industrialization, increasing government due to rapid pace of industrialization, increasing government investments in the automotive sector, and rising automobile production.

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