The global Automotive Sunroof Market was predicted to hold approximately USD 21.25 billion in the year 2021 and is further anticipated to generate approximately USD 39.68 billion by the end of the year 2028. However, the global market is registered to account for a CAGR of 10.39% between the period 2021 to 2028.
The global Automotive Sunroof Market is driving due to the impact-resistant sunroof integrated with the rising investments. Another major growth driving factor is the growing demand for lightweight across the world, which is fuelling the growth of the worldwide market during the forecast period. Moreover, the global market for Automotive Sunroof has lucrative opportunities due to the high manufacturing cost of Automotive Sunroof.
However, the increasing price of automobiles and the rising cost of sunroof systems is projected to hamper the worldwide market growth for Automotive Sunroof during the review period.
Automotive Sunroof Market Segmentation
The global Automotive Sunroof Market has been classified based on application, type, and sales channel.
Based on the application segment, the current market for Automotive Sunroof has been classified into Sedan, SUV, Hatchback, and others. In terms of the sales channel segment, the global market for Automotive Sunroof has been categorized into Aftermarket and OEM.
Based on the type segment, the market for Automotive Sunroof has been segmented into the panoramic sunroof, inbuilt sunroofs, pop-up sunroofs, spoiler sunroofs, and others. In 2017, the inbuilt sunroof segment was projected to lead the global market by generating the largest market share. However, this segment is predicted to dominate the global market throughout the review period. It has been found that the popularity of the inbuilt sunroofs is growing and having more opportunities in the further coming years due to the rising technological advancements in inbuilt sunroofs like venting, press and hold operation, auto-retract system, auto-close system, and soft-touch operations.
Automotive Sunroof Market Regional Analysis
As per the Automotive Sunroof Market report, the current market has been divided into several regions such as Asia-Pacific, South America, North America, Europe, and the rest of the world.
Out of all, the European market for Automotive Sunroof is projected to acquire the largest market share of 33.40% in the assessment timeframe. In this region, countries like Germany have contributed highly to the market by generating the largest market share and market value of approximately USD 1,263 million in the year 2017. The European regional market is fuelling due to the rising preference of customers towards comfort features and growing demand for premium vehicles that are leading to increasing adoption of sunroofs in passenger vehicles across the region.
Moreover, the Asia Pacific market for Automotive Sunroof is anticipated to hold 28.36% of the market share during the forecast period. Apart from these regions, the North American regional market for Automotive Sunroof is predicted to generate a market share of 28.26% in the research period. Overall, the global Automotive Sunroof Market is expanding in all these regions due to the rising demands for SUVs and premium vehicles.
Automotive Sunroof Industry News
In March 2018, the prominent player Webasto inaugurated its roof system production unit in China. It has aimed to develop research for the solar sunroof as well as develop core technologies for the sunroof.
Automotive Sunroof Market Key Players
· Inalfa Roof Systems Group B.V
· Inteva Products
· Wuxi Ming Fang AutoMobile Parts
· Webasto Group
· Wuhu Mosentek Automobile Technology
· Magna International Inc.
· Aisin Seiki
· Yachiyo Industry Co. Ltd
· Zhejiang Wanchao Electric Co. Ltd
· Johnan Manufacturing Inc.
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