Automotive Sunroofs: Market Size. From $18. 40 billion in 2020, the global Automotive Sunroofs market is projected to reach $44. 91 billion by 2028. Based on our analysis the market is expected to grow at a CAGR of 11.
New York, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Glopbal Automotive Sunroofs Market Analysis & Trends - Industry Forecast to 2028" - https://www.reportlinker.com/p06127662/?utm_source=GNW
8% from 2020 - 2028 timeframe.
Some of the prominent trends that the market is witnessing include development of solar sunroofs for electric vehicles, growing automotive sector in emerging countries, and development of panoramic sunroof airbag systems.
Global Automotive Sunroofs Market: Market Dynamics
The sunroof in a vehicle is a preset or operable aperture in a vehicle roof that allows light and fresh air to enter within the passenger compartment. Interior climate improves and the draught is abridged as efficient ventilation within the vehicle is enabled. They give greater brightness and illumination and are joined with improved air circulation which is accountable for further growing the comfort level of vehicle occupants. Therefore, there is a rising trend among original equipment manufacturers (OEMs) to offer spoiler type or low-priced removable sunroofs as an elective feature in passenger cars in addition to premium vehicles in the automotive industry. The rising use of sunroof in cars as they have various advantages and growing demand for passenger comfort and convenience are fueling the growth of the automotive sunroofs market across the globe. Technological advancements in architecture are one of the key factors contributing to the growth of the market.
For instance, Under Union Budget 2019-2020, the government of India announced its tactics to set up R&D centers at an expenditure of USD 388.5 million to allow the automotive sector to meet global standards. Such government initiatives in diverse countries are probable to boost manufacturers in the market to increase their production during the forecast period.
On the other hand, increasing incidents of shattering & crushing of sunroofs are likely to obstruct the profit boundaries. In addition, increasing penetration of solar sunroofs in electric vehicles across the globe will further boost the automotive sunroofs market.
Impact of COVID-19 on Automotive Sunroofs
The outbreak of COVID-19 has a negative impact on the automotive sunroof market, owing to its collision on motor vehicle fabrication as there was the incessant blackout of manufacturing amenities and distraction of supply chain crosswise various parts of the world. Moreover, the COVID-19 pandemic has had a swift and severe impact on the globally integrated automotive industry. Symptoms include a disruption in Chinese parts exports, large-scale manufacturing interruptions across Europe, and the closure of assembly plants in the United States. This is placing intense pressure on an industry already coping with a downshift in global demand, and likely leading to increased merger & acquisition activity.
Glass Sunroof Segment Dominate the Market
The glass sunroof segment has a significant market share during the forecast period, due to advancements in technology, which have made it possible to manufacture various types of glasses, such as tempered glass, laminated glass, and glass that can protect from ultraviolet rays. Superior energy efficiency and effective insulation properties of glass along with low maintenance compared to traditional counterparts make it a suitable choice as sunroofs in the industry. Glass sunroofs offer the flexibility to better control natural light and enjoy natural air ventilation instead of a car’s air conditioner. Owing to such benefits, the segment will continue to dominate the market over the forecast period.
Asia Pacific Region is Leading in the Global Market Place
Asia Pacific region is anticipated to hold the largest share over the forecast period, owing to the presence of major automotive manufacturers, such as Mitsubishi, Tata Motors Limited, Hyundai-Kia, Suzuki, Lexus, and Toyota. Demand for premium vehicles in emerging economies, such as India and China, is surging in line with the rising disposable incomes of the populace. At the same time, automobile production in the region is increasing as automakers are investing aggressively to expand their production capacity.
List of the Key Players Profiled in the Market Include:
• ACS France SAS
• Yachiyo Industry Co., Ltd.
• Johnan America, Inc.
• Magna International Inc.
• Webasto Group
• Mitsuba Corporation
• Inalfa Roof Systems
• CIE Automotive S.A.
• Signature Automotive Products
• AISIN SEIKI Co., Ltd.
• Hyundai Mobis
• Inteva Products, LLC
• Saint-Gobain Sekurit
• BOS GmbH & Co. KG
• Sunny Enterprises
List of the Regions/Countries Profiled in the Market Include:
• Rest of Europe
• New Zealand
• Rest of Asia Pacific
• Saudi Arabia
• Rest of Middle East
• Rest of Latin America
Rest of the World (RoW)
• South Africa
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