Market Research Report
Automotive Convertible Roof System Market by Vehicle Type, Roof Type, and Geography - Forecast and Analysis 2020-2024
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||694241|
|Published||Content info||153 Pages
Delivery time: 1-2 business days
|Automotive Convertible Roof System Market by Vehicle Type, Roof Type, and Geography - Forecast and Analysis 2020-2024|
|Published: November 21, 2019||Content info: 153 Pages||
Technavio's automotive convertible roof system market analysis considers sales from both soft top and hard roof top. Our study also finds the sales of automotive convertible roof system in APAC, Europe, MEA, North America, and South America. In 2019, the soft top segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as growing demand for EVs will play a significant role in the soft top segment to maintain its market position. Also, our global automotive convertible roof system market report looks at factors such as growing demand for convertible feature in utility vehicles, power-folding convertible roof system leading to superior performance, and rising number of high-net-worth individuals. However, high cost associated with automotive convertible roof system, safety and security concerns associated with convertible roof system, and growing popularity of panoramic sunroof may hamper the growth of the automotive convertible roof system industry over the forecast period.
Utility vehicles are contributing significantly to the global demand for automotive convertible roof systems. Popular OEMs in the large SUV category are offering convertible roof as a standard or optional fitment. In addition, the growing demand for an open-air driving experience among consumers is also fostering the demand for utility vehicles. The aftermarket fitment of automotive convertible roof systems in SUVs including crossover and pickup trucks is also driving market growth. Thus, the growing demand for convertible feature in modern utility vehicles will lead to the expansion of the global automotive convertible roof system market at a CAGR of over 6% during the forecast period.
Automakers across the globe are developing and testing advanced technologies for improving the performance of convertible cars. Some of the leading OEMs are developing innovative lightweight convertible panel tops made of magnesium. These convertible roof systems give complete insulation to the occupants when the roof is closed. In addition, the deployment of lightweight convertible roof systems in convertible cars also enhances their performance and visual aesthetics. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global automotive convertible roof system market during the forecast period 2020-2024, view our report.
With the presence of several major players, the global automotive convertible roof system market is fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive convertible roof system manufacturers, that include Aisin Seiki Co. Ltd., CIE Automotive SA, Continental AG, GAHH LLC, HOERBIGER Holding AG, Magna International Inc., Pininfarina Spa, Standex International Corp., Valmet Automotive Inc., and Webasto SE.
Also, the automotive convertible roof system market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.