A recent report by Transparency Market Research finds that the global automotive sunroofs market is highly fragmented, with top three companies collectively holding merely 25.5% of the shares in 2015. Various multinational firms and local companies are operating in this market, with Aisin Seiki Co. Ltd. holding the maximum shares in 2015, followed by Inalfa Roof Systems Group B.V. and Inteva Products, Inc.
According to the evaluations of the report, the global automotive sunroofs market had a valuation of US$4.3 bn in 2015, and estimates it to reach US$11.4 bn by the end of 2024, expanding at a robust CAGR of 11.5% during the forecast period of 2016 to 2024.
Product innovation and development is a key strategy adopted by most leading players in the global automotive sunroofs market. Due to the dynamic business environment with several technological advancements are taking place each day, it has become essential for these players to stay agile. Acquisition is another key strategy that is being widely followed by the leading market players. In case of an acquisition, the acquirer take advantage of existing synergies while the acquired company has financial gains and immediate surge in customers.
Glass Sunroofs Dominate Demand
By material type, the report segments the global automotive sunroofs market into glass sunroof and fiber sunroof. In 2015, the segment of glass sunroofs contributed 70.53% of the demand and is expected to remain most profitable through-out the forecast period. Automotive glass sunroofs market can be further sub-segmented into tilt and slide glass, in-built, top-mount, panoramic, solar glass, and pop-up glass. In 2015, in-built glass sunroof was most profitable, serving nearly one-third of the overall demand. Fiber sunroofs market is broadly sub-segmented into foldable fiber sunroof and removable fiber sunroof.
Geographically, Europe held the most prominent share at 33.12% in 2015 in the global automotive sunroofs market, followed by Asia Pacific, and North America. Europe is projected to remain the most profitable region during the forecast period, despite losing some of the shares as compared to 2015, while Asia Pacific and North America will increment the demand in the near future.
Increasing Demand for Premium Vehicles Escalating Uptake
Across the globe, the demand for comfortable and secure systems in vehicles is escalating, with which the uptake for sunroofs in automotive vehicles has swelled significantly. With sunroofs, the air is circulated adequately within vehicles, besides offering enhanced illumination and brightness during the daytime, which as a results adds to the comfort of the passengers. Original equipment manufacturers now also offering built-in or optional sunroof systems even to the mid-segment cars, which previously was limited to only luxury or premium vehicles. In addition to that, increasing production of premium cars is another factor augmenting the demand in the global automotive sunroofs market. Premium cars such as BMW, Mercedes-Benz, and Audi among others were the first car brands to use sunroofs. Panoramic sunroofs are most commonly used in premium cars. The elegant styling, looks and competitive prices are driving the luxury cars market globally. Conversely, incidences of shattering and crushing of sunroofs worldwide and high cost of maintenance is expected to pose threats to the automotive sunroof market.
According to the author of the report, “The automotive industry has been experiencing strong demand for both hybrid and electric vehicles, which is a reflection of stringent carbon emission norms across the world. This advent of hybrid vehicles opening new opportunity for solar sunroofs as these are quite effective for this type of vehicles.” Solar sunroofs have solar photovoltaic cells, which are used for production of electricity.
The information presented in this review is based on a Transparency Market Research report, titled, “Automotive Sunroofs Market (Material - Glass Sunroof (In-Built, Tilt and Slide, Panoramic, Top-Mount, Pop-Up, and Solar Glass) and Fiber Sunroof (Foldable and Removable) - Global Industry Analysis, Trend, Size, Share and Forecast 2016 - 2024.”
Key Segments of the Global Automotive Sunroofs Market
Global Automotive Sunroofs Market, By Material Type
- Glass Sunroof
- Fiber Sunroof
Global Automotive Sunroofs Market, By Glass Sunroof Type
- In-Built Glass Sunroof
- Tilt and Slide Glass Sunroof
- Panoramic Glass Sunroof
- Top-Mount Glass Sunroof
- Pop-Up Glass Sunroof
- Solar Glass Sunroof
Global Automotive Sunroofs Market, By Fiber Sunroof Type
- Foldable Fiber Sunroof
- Removable Fiber Sunroof
Global Automotive Sunroofs Market, By Geography
- North America
- The U.S.
- Rest of North America
- The U.K.
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle-East and Africa (MEA)
- South Africa
- Rest of Middle-East and Africa
- Latin America
- Rest of Latin America
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