PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1120739
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1120739
The global automotive sunroof market was worth USD 5,929.6 million in 2021 and is expected to grow at a 15.9% CAGR over the forecast period.
A sunroof is a fixed or moveable aperture in a vehicle's roof that provides light and fresh air into the passenger cabin. As adequate ventilation is provided within the car, the interior climate improves and draughts are eliminated. They are either non-transparent or transparent panels that are manually or mechanically controlled, and there are many different varieties of sunroofs on the market based on the forms, sizes, and features that vary from car to vehicle. They enable increased brightness and lighting, as well as enhanced air circulation, which contributes to the comfort of vehicle occupants.
One of the important elements driving development is the growing practice among automakers to provide automotive sunroofs as an optional extra in the majority of passenger cars. Rising automotive manufacturing and increased sales of premium and luxury automobiles are predicted to strengthen the sector. Since Mercedes-Benz produced the first automobile sunroof in 1932, automakers have tried in more intricate ways to allow the sunshine into the cabin. Sunroofs and other roof systems are now being used by vehicle manufacturers to further differentiate their product offerings to customers.
Because automated opening and shutting enable a convenient operation, they are rapidly being used in a wide range of automobiles. Various governments, particularly in developing countries, are aggressively promoting environmentally friendly automobiles in order to meet more rigorous emission rules. Panasonic, for example, created a 180-W solar photovoltaic car roof for the Toyota Prius plug-in hybrid electric vehicle, which is predicted to boost vehicle economy by up to 10%. Panasonic introduced breakthrough technology to laminate the 3-D curved glass to fit the Prius PHEV's aesthetic design elements, allowing module placement on the car roof without compromising the sophisticated design.
The COVID-19 pandemic has hampered the industry growth sunroof market because of its influence on vehicle production, which has resulted in the ongoing closure of manufacturing sites and disruption of the supply chain in many areas of the world.
The automotive Sunroof Market is segmented on the basis of Material Type, Product Type, Vehicle Type, and Region.
The market is divided into two sections based on material type: glass and cloth. Glass held the biggest market share in 2019 and is predicted to increase at an exponential rate during the forecast period. This segment's increased use can be linked to technical developments, material breakthroughs such as improved sunroof glazing, which has decreased overhead safety issues, and glass that can reflect UV rays.
The automobile sunroof industry is classified into: integrated, panoramic, tilt & slide, top mount, and pop-up sunroofs. Because OEMs prefer providing inbuilt in their cars and extra functions such as vents, sunshade, auto closure, and others that further increase vehicle comfort levels, the inbuilt sector is projected to have the biggest market share.
The market is divided into three segments based on vehicle type: passenger automobiles, light commercial vehicles, and electric vehicles. The passenger automobile category is predicted to increase rapidly in the market. Greater development in this category can be attributable to the introduction of cost-effective solutions that would provide natural light and ventilation and increased comfort without the additional expense burden associated with sunroof installation and maintenance.
The restricted number of market participants now dominating the industry is due to increased market consolidation. Increasing product penetration through the acquisition of significant regional businesses and a renewed focus on product portfolio growth, particularly in volume-driven developing nations, has been a key component of the main market players' business strategy.
Inteva Products, for example, launched its second production plant in Romania in 2016, devoted to creating sunroof systems ASIA PACIFIC USD 504.6 Million components, allowing it to further expand its reach across Europe. Furthermore, OEMs such as Mercedes-Benz, Toyota, and Audi partnering with Tier-1 suppliers for R&D reasons is a favorable element influencing the top companies' market positions.
The scope of this report covers the market by its major segments, which include as follows: