The global automotive sunroof market is anticipated to grow at a CAGR of around 9.5% during the forecast period 2021 to 2028 and to reach around US$ 38.3 Bn by 2028.
|Market||Automotive Sunroof Market|
|Analysis Period||2017 - 2028|
|Forecast Data||2021 - 2028|
|Segments Covered||By Material, By Product, By Operation, By Distribution Channel and By Region|
|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|
|Customization Scope||10 hrs of free customization and expert consultation|
Automotive sector across the globe is undergoing rapid advancements; with the rising investment in the sector, consumer’s interest towards aesthetic looks with enhanced features is shaping the manufacturers approach towards providing 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 is expected to support the growth of global automotive sunroof market. Wide acceptance of openness in the vehicle as compared to enclosed one and benefit of providing better ventilation is increasing demand for sunroof. Enterprise approach towards enhancing the business through new product launches and high consumer spending capacity is expected to augment the growth of target market.
In 2021, Mahindra, a global automotive manufacturer launched Mahindra “XUV 700.” The vehicle is equipped with skyroof that would be the segment's largest skyroof measuring 1360 mm in length and 870 mm in width. This product launch is expected to help company enhance its business and increase the customer base.
In 2021, Kia Corporation, a global vehicle manufacturing company launched its new product “Kia Seltos.” The vehicle is expected to equip with be panoramic sunroof providing the care a new and better look. The product launch is expected to help company enhance the product offering and increase the revenue share.
Increasing government spending on electric vehicle segment, introduction of new vehicles with advanced features is expected to impact the growth of automotive sunroof market. . In 2021, the government of India introduced the incentive to companies making electric vehicles this scheme is expected to attract investment of US$ 14 Bn in the next five years. Consumers are inclining towards the adoption of electric vehicles. Their preference for vehicle with better ventilation, better light and soundproof is increasing. Manufacturers operating in developing countries are focused on catering the rising demand. Factors such as high cost of vehicle and complex design & manufacturing process are factors expected to hamper the growth of global automotive sunroof market. In addition, happenings of life threatening situations and economic instability are factors impacting vehicle demand this is expected to challenge the growth of the target market. Covid-19 has impacted the economies of various countries further lowering vehicle sale. Consumers spending on vehicles have lowered down the sale of companies. However, favorable business policies by the government, increasing investment by players and rising vehicle sale are factors expected to create new opportunities for players operating in the automotive sunroof market over the forecast period. Government of developing countries is providing 100% FDI which is attracting players across the globe. Manufacturers are shifting the production site to emerging economies due to low price labor and easy availability of raw material. In addition, rising partnership and agreements between regional and international players is expected to support the revenue transaction of the target market.
Segment Analysis by Region
The market in Asia Pacific is expected to account for major revenue share in the global automotive sunroof market due to rising production of vehicles.
Presence of large number of players operating in the countries such as China and India and new vehicle launches with advance features is expected to support the automotive sunroof market growth. In May 2021, South Asian countries recorded sale of around 2.71 million passenger cars.
The global automotive sunroof market is highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Automotive Sunroof Market Segment Analysis, 2020
The global automotive sunroof market is segment into material, product, operation, and distribution channel. The material segment is divided into glass and fabric. Among material the fabric segment is expected to account for major revenue share in the global automotive sunroof market.
The product segment is bifurcated into panoramic, built-in, top mount/spoiler, pop-up, and folding. Among product the panoramic segment is expected to witness faster growth in the target market. Players operating in 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.
Market by Material:
Market by Product:
Market by Operation:
Market by Distribution Channel:
Market by Region
The global automotive sunroof market in 2028 is expected to be above US$ 38.3 Bn.
The CAGR of the global automotive sunroof market from 2021-2028 is above 9.5%.
Flourishing automotive sector across the globe, increasing consumer spending capacity, and rising preference of aesthetic looks in vehicles is expected to increasing demand for sunroof further expected to drive the growth of global automotive sunroof market.
In product the panoramic segment is growing at faster pace.
In the global market the Asia Pacific region is expected to grow faster.
Some of the players considered in the report scope are Inteva Products LLC, Webasto SE, Aisin Seiki Co., Ltd., Magna International, Inc., Inalfa Roof Systems B.V., and CIE Automotive.
The North America is expected to account for significant revenue share in the global market.