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Automotive Sunroof Market
The key factors that drive the market growth are innovation in glass technology and rise in demand for safety, comfort, and convenience features.
WILMINGTON, DE, UNITED STATES, November 29, 2024 /EINPresswire / -- Allied Market Research published a new report, titled, " The Global Automotive Sunroof Market Size Reach USD 13.64 Billion by 2030 Growing at 9.3% CAGR." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global automotive sunroof market size was $5,753.53 million in 2020, and is projected to reach $13,647.66 million by 2030, growing at a CAGR of 9.3% from 2021 to 2030.
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Surge in demand for safety, convenience, and comfort features and advancements in glass technology have boosted the growth of the global automotive sunroof market. However, low penetration of power sunroof in low segment vehicles and high integration & maintenance costs hinder the market growth. On the contrary, surge in penetration of solar sunroofs in electric vehicles and increase in sales of vehicles would open new opportunities in the future.
The global automotive sunroof market is segmented on the basis of material type, vehicle type, and region. Based on the material type, the market is categorized into glass & fabric material. The glass segment is further classified into tilt & slide sunroof, panoramic sunroof, pop-up sunroof, and solar sunroof. Based on the vehicle type, the market is categorized into gasoline-powered vehicle & electric-powered vehicle. The gasoline-powered vehicle segment is sub-segmented into hatchback, sedan and sport utility vehicle (SUV). The electric-powered vehicles are further classified into battery electric vehicle (BEV), hybrid electric vehicle (HEV), and plug-in hybrid vehicle (PHEV). Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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By material type, the fabric segment is estimated to portray the highest CAGR of 13.4% during the forecast period. This is due to improvements in various materials and rise in sale of automotive vehicles coupled with developments in material technology. However, the glass segment held the largest share in 2020, accounting for more than four-fifths of the global automotive sunroof market, due to surge in demand for safety, comfort, and aesthetic features.
By vehicle type, the gasoline powered vehicle segment held the largest share in 2020, contributing to around three-fourths of the global automotive sunroof market. This is owing to surge in presence of fuel-based vehicles. However, the electric powered vehicle segment is projected to manifest the highest CAGR of 11.6% during the forecast period, as rise in demand for electric vehicles and need for advanced featured vehicles.
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By region, the market across Asia-Pacific, followed by North America, is expected to showcase the highest CAGR of 11.1% during the forecast period, due to rapid development toward automotive sunroofs and surge in sales of such vehicles in the region. However, the market across Europe held the largest share in 2020, accounting for more than one-third of the global automotive sunroof market.
The key players operating in the global automotive sunroof market are Aisin Corporation, Automotive Sunroof-Customcraft (ASC) Inc., BOS Group, CIE Automotive, Inalfa Roof Systems Group B.V., Inteva Products, Magna International Inc., Johnan America, Inc., Webasto Group, and Yachiyo Industry Co., Ltd.
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Covid-19 scenario:
● The Covid-19 pandemic resulted in closures of businesses, disruption of the supply chain, and factory outputs.
● The restrictions on cross-border import & export hampered the manufacturing of automotives and their sales.
● The nation-wide lockdown and isolation of people living in high-risk areas reduced the demand for automotive sunroofs.
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