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Automotive Sunroof Market to Surpass Valuation of US$ 18.36 Bn by 2031: Transparency Market Research

Automotive |

Automotive Sunroof Market: Introduction

According to the report, the global automotive sunroof market is projected to surpass US$ 18.36 Bn by 2031, expanding at a CAGR of 9.60% during the forecast period. Rise in demand for premium vehicles across the globe is likely to increase the demand for automotive sunroofs. Vehicle manufacturers are more concerned about consumer preferences across the globe. On the other hand, manufacturers are using durable and high quality materials as automobile components to make vehicles more appealing. This is anticipated to boost the automotive sunroof market.

Increase in consumer trend toward luxurious vehicles, especially in the SUV segment with high performance and attractive appearance, is driving the market for automotive sunroofs. Sunroof improves the intake of fresh air as well as it appears attractive. Initially, sunroofs were installed only in premium vehicles; however, they became comparatively cheaper than earlier times due to an increase in demand and adequate availability of raw material.

Expansion of Automotive Sunroof Market

The automotive sunroof market is anticipated to expand significantly due to the rapid growth of the automobile industry around the world. The sunroof segment is witnessing an upward curve, due to increasing buying power of an individual. Moreover, emergence of an electric and hybrid electric vehicles, which is the future of automobile sector is a strong factor that is boosting the automotive sunroof market across the world.

Based on product type, in-built glass and panoramic glass segments dominated the automotive sunroof market, in terms of volume and revenue, in 2020. Rise in sale of passenger vehicles, owing to increase in buying power of consumers across the globe is likely to propel the automotive sunroof market. In terms of vehicle type, passenger vehicle and light duty vehicle segments also held a notable share of the market. They are anticipated to expand during the forecast period.

Based on material, the global automotive sunroof market has been bifurcated into glass sunroof and fiber sunroof. The glass sunroof segment dominated the global automotive sunroof market, in terms of volume and revenue, in 2020. Furthermore, composite fibers are evolving in the sunroof market because of their beneficial properties and effectiveness.

Regional Analysis of Automotive Sunroof Market

In terms of region, the global automotive sunroof market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe dominates the global market for automobile sunroofs. The robust demand for luxury and premium automobiles is a key factor driving demand in the region. The presence of major manufacturers in countries such as Germany and the U.K. has driven the region at the forefront of the global automobile sunroof market. Furthermore, Asia Pacific is expected to lead the global market. The demand for premium vehicles is increasing in emerging economies such as India and China, owing to rise in people's disposable incomes. At the same time, the region's vehicle production is booming, as automakers invest heavily in expanding their capacities.

Automotive Sunroof Market Players

Prominent players operating in the global automotive sunroof market include Aisin Seiki Co. Ltd., Inalfa Roof Systems Group B.V., Inteva Products, LLC, Yachiyo Industry Co., Webasto SE., Valmet Automotive, Magna International, Inc., and CIE Automotive.

Global Automotive Sunroof Market: Segmentation

  • Automotive Sunroof Market, by Product Type
    • In-built Glass
    • Panoramic Glass
    • Tilt and Slide Glass
    • Top-mount Glass
    • Pop-up Glass
    • Solar Glass
    • Foldable Fiber
    • Removable Fiber

Automotive Sunroof Market, by Material

  • Glass Sunroof
  • Fiber Sunroof

Automotive Sunroof Market, by Vehicle Type

  • Passenger Vehicle
    • Hatchback
    • Sedan
    • Utility Vehicle
  • Light Duty Vehicle
  • Medium & Heavy Duty Trucks
  • Bus & Coaches

Automotive Sunroof Market, by Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

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