The Global Automotive Sunroof Market Size accounted for USD 23,259 Million in 2021 and is estimated to achieve a market size of USD 50,602 Million by 2030 growing at a CAGR of 9.2% from 2022 to 2030. Rising passenger automobile sales, together with rising per capita economic and consumer expenditure on better ventilation & brighter car interiors to improve the overall driving experience will drive the automotive sunroof market growth. Furthermore, technical improvements in sunroof components enhance the automotive sunroof market value.
Automotive Sunroof Market Report Key Highlights
An automotive sunroof is a movable glass in a vehicle's roof that provides light as well as fresh air into the passenger compartment. It helps to improve overall looks, provide ventilation, & add value to a vehicle. It can be controlled manually or by power, and it can be translucent or opaque. It is currently readily accessible in a variety of shapes, dimensions, and fashions all around the world.
Global Automotive Sunroof Market Trends
Automotive Sunroof Market Report Coverage
|Market||Automotive Sunroof Market|
|Automotive Sunroof Market Size 2021||USD 23,259 Million|
|Automotive Sunroof Market Forecast 2030||USD 50,602 Million|
|Automotive Sunroof Market CAGR During 2022 - 2030||9.2%|
|Automotive Sunroof Market Analysis Period||2018 - 2030|
|Automotive Sunroof Market Base Year||2021|
|Automotive Sunroof Market Forecast Data||2022 - 2030|
|Segments Covered||By Material, By Revenue, By Operation, By Distribution Channel, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Inteva Products LLC, Webasto SE, Aisin Seiki Co., Ltd., Magna International, Inc., Inalfa Roof Systems B.V., and CIE Automotive.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
The automotive sector across the globe is undergoing rapid advancements; with the rising investment in the sector, consumers’ interest in aesthetic looks with enhanced features is shaping the manufacturer's approach towards providing the vehicle with sunroofs. According to WardsAuto, in 2017, about seven million cars and light trucks sold in the United States came with a sunroof which is high as compared to previous years. Chancing government regulations and rising demand for luxury vehicles are expected to support the growth of the global automotive sunroof market. Wide acceptance of openness in the vehicle as compared to enclosed one and the benefit of providing better ventilation is increasing demand for the sunroof. An enterprise approach towards enhancing the business through new product launches and high consumer spending capacity is expected to augment the growth of the target market.
Increasing government spending on the electric vehicle segment, and the introduction of new vehicles with advanced features are expected to impact the growth of the automotive sunroof market. . In 2021, the government of India introduced an incentive to companies making electric vehicles this scheme expected to attract investment of US$ 14 Bn in the next five years. Consumers are inclined towards the adoption of electric vehicles. Their preference for vehicles with better ventilation, better light, and soundproofing is increasing. Manufacturers operating in developing countries are focused on catering to the rising demand. Factors such as the high cost of the vehicle and complex design & manufacturing process are factors expected to hamper the growth of the global automotive sunroof market. In addition, happenings of life-threatening situations and economic instability are factors impacting vehicle demand which is expected to challenge the growth of the target market. Covid-19 has impacted the economies of various countries further lowering vehicle sales. Consumers' spending on vehicles has lowered the sale of companies. However, favorable business policies by the government, increasing investment by players and rising vehicle sales are factors expected to create new opportunities for players operating in the automotive sunroof market over the forecast period. The government of developing countries is providing 100% FDI which is attracting players across the globe. Manufacturers are shifting production sites to emerging economies due to the low price of labor and easy availability of raw materials. In addition, rising partnerships and agreements between regional and international players are expected to support the revenue transaction of the target market.
Automotive Sunroof Market Segmentation
The worldwide automotive sunroof market segmentation is based on the material, product, operation, distribution channel, and geography.
Automotive Sunroof Market By Material
According to the automotive sunroof market forecast, the glass sunroof segment held the largest market share in 2021 and is expected to grow at a stunning rate during the projected period. The segment's rise can be attributable to technological advancements, which have enabled the production of numerous types of glassware, such as laminated glass, tempered glass, as well as glass that can guard against ultraviolet rays.
Automotive Sunroof Market By Product
In terms of products, the panoramic segment held a significant market share in 2021. Several automobile manufacturers offer panoramic sunroofs to improve ventilation. For example, Hyundai introduced the Tucson model with panoramic sunroofs in 2020. To meet emission limits, industry players are lowering product mass. Inteva developed panoramic sunroofs with a 10% weight decrease in 2017. As a result, improved airflow and product upgrades with sun-protective coatings will boost category penetration.
Automotive Sunroof Market By Operation
According to the automotive sunroof industry analysis, the automatic segment is predicted to rise significantly in the market over the next few years. This is due to the growing need for simple-to-use car technologies. The gadget operates with minimum driver interference and can be used remotely or alongside any power system installed in a car. Further incorporated safety systems in sunroofs recognize an object or rain using sensors, which will mainly fuel its growth.
Automotive Sunroof Market By Distribution Channel
According to the distribution channel, the OEM segment dominates the market. This is positioned to maintain its supremacy, supported by a broad distribution network. The important aspects driving demand are the supply of safety, increased durability, and greater service with lower maintenance. Furthermore, consumer preferences for product quality, dependability, as well as cost-effective after-sales services are likely to drive demand. Another significant aspect driving the OEM automotive sunroof market rise is rising automobile production.
Automotive Sunroof Market Regional Outlook
The Middle East & Africa
Asia-Pacific Holds The Dominant Market Share For The Automotive Sunroof Market
The Asia-Pacific market is predicted to account for a significant revenue share of the global automotive sunroof market. This is primarily due to increased automobile production. The existence of a significant number of players in nations such as China and India, as well as new vehicle introductions with advanced features, are projected to promote the expansion of the automotive sunroof market. In May 2021, South Asian countries registered revenues of around 2.71 million passenger vehicles.
Automotive Sunroof Market Players
Some of the top automotive sunroof companies offered in the professional report include Inteva Products LLC, Webasto SE, Aisin Seiki Co., Ltd., Magna International, Inc., Inalfa Roof Systems B.V., and CIE Automotive.
Automotive Sunroof Market Strategies
The global automotive sunroof market is extremely competitive due to the existence of a large number of manufacturers and novel product portfolio. Furthermore, company expansion efforts such as collaborations and partnerships are projected to boost competitiveness.
Some of the key strategies in market:
The estimated value of global automotive sunroof market in 2021 was accounted to be USD 23,259 Million.
The projected CAGR automotive sunroof market during the analysis period of 2022 to 2030 is 9.2%.
The prominent players of the global automotive sunroof market are Inteva Products LLC, Webasto SE, Aisin Seiki Co., Ltd., Magna International, Inc., Inalfa Roof Systems B.V., and CIE Automotive.
Asia-Pacific held the dominating automotive sunroof during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for automotive sunroof during the analysis period of 2022 to 2030.
Increasing demand for passenger comfort, convenience, and safety features, and rising demand for compact and midsize SUVs, drives the growth of global automotive sunroof market.
Based on distribution channel, OEM segment is expected to hold the maximum share automotive sunroof market.