The global automotive sun visor market size is expected to reach around USD 10 billion by 2026 and growing at a CAGR of 3.2% during the forecast period 2019 to 2026.
Sun visors has become an important part of modern vehicles and they enhance the overall appearance of the vehicle interior. Rising in demand for stylish sun visors, consistent increase in vehicle production across the world, owing to rapid urbanization, and increase in purchasing power of consumers are likely to drive the automotive sun visor market during the forecast period.The automotive sun visor manufacturers requires to design sun visor to match the dimension required by the consumers which sustain R&D cost and pose a challenge for automotive sun visor vendors. On the other hand, volatility of the raw material prices may slow the growth of the automotive sun visor market.
The market research study on “Automotive Sun Visor Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers a detailed outlook, strategic recommendations, and insightful viewpoints on the global automotive sun visor market. The report also analyzes the key players operating in automotive sun visor market and identifies the key strategies deployed by them along with the market share of leading players.
The global automotive sun visor market is segmented as below:
Automotive Sun Visor Market By Surface Material
Automotive Sun Visor Market By Type
Automotive Sun Visor Market By Vehicle Type
Automotive Sun Visor Market By Sales Channel
Automotive Sun Visor Market By Geography
The key trends supporting the automotive sun visor market growth includes increasing demand for vehicle and passenger safety is likely to boost the demand for the automotive sun visor during the forecast period. Additionally, increasing demand for stylish sun visors, consistent growth in vehicle production across the world, owing to rapid urbanization. Some sun visors are incorporated with mirrors and light for enhanced appearance. LCD sun visor is gaining acceptance among consumers, as it not for blocks sunlight also it is able to integrate DVD playback into the vehicle.
The automotive sun visoris segmented by surface material, sales channel, vehicle type, and type.On the basis of surface material, the global automotive sun visoris segmented into vinyl andfabric. On the basis of type, the global automotive sun visor market is bifurcated into LCD sun visor, conventional type. Based on vehicle type, the global market is segmented into commercial vehicle, passenger vehicle, and electrical vehicle. On the basis of sales channel, the market is segmentedaftermarket andOEM.
Geographically, the global automotive sun visor market is segmented into North America, Europe, Asia Pacific, Latin America and The Middle East & Africa (LAMEA).
Asia Pacific is anticipated to hold more than 50% share of the global market
In terms of region, Asia Pacific dominates the automotive sun visor market owing to the presence of a prominent automotive manufacturers in China, Japan, India, and South Korea. Asia Pacific is anticipated to hold more than 50% share of the global market. Growing production of the automobile in these countries is expected to flourish the automotive sun visor market in this region. Further, blooming economies and the changing the lifestyle of the population in this region is expected to grow the demand for the automotive sun visor. Rising vehicle production across the region is expected to boost the automotive sun visor market during the forecast period
Europe is expected to second leading position in the Europe automotive sun visor market.Increasing automotive sector, growing urbanization, increasing per-capita income, and changing standard of living is likely to propel the growth of the Europe automotive sun visor market. It is estimated that the German automotive industry accounted for approximately USD 322.0 billion in 2015. The automotive industry of Germany is one of the most innovative industries with R&D investments amounting to USD 24.1 billion in 2014. Moreover, the massive R&D expenditure over new innovative technologies such as autonomous vehicles and electric vehicles the German automotive industry is likely to gain huge push in coming years.
The LAMEA automotive sun visor market is majorly driven by increasing per capita income and increasing interest of population on spending will simultaneously drive the growth of the market in LAMEA. Additionally, the increasing players in this region is likely to propel the growth of the market during the forecast period. Moreover, increase in the number of light vehicles and stringent safety norms are expected to drive the sun visor market
Some of the major players analyzed and profiles in this market includeIrvin Automotive Products, Inc., GUMOTEX, BRACE, GRIOS sro, Grupo Antolin, Atlas Holdings., KASAI KOGYO CO., LTD., HOWA TEXTILE INDUSTRY CO., LTD., KÖBO GmbH & Co KG, FOMPAK, and KB Foam Inc.
Being a nascent market, many new companies many enter in the market in near future which will increase the competitive rivalry. Continuously increasing demand for the light vehicles favored the international players to withstand in the market. Additionally, innovative approaches and introduction of technologically advanced vehicles undertaken by key players will fuel the market growth and competition in the market.
For instance- On April 2019, Atlas Holdings LLC acquired International Wire Group Holdings, Inc.. Headquartered in Camden, New York, IWG is a leading designer and manufacturer of highly-engineered copper-based wire products.IWG serves a huge range of customers, primarily in end markets such as industrial, energy, electronics and data communications, automotive and specialty vehicles, aerospace and defense, medical products and appliances.