Thursday, 10 November 2022 02:33 PM
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WILMINGTON, DE / ACCESSWIRE / November 10, 2022 / Transparency Market Research Inc. - The last decade has witnessed steady rise in demand for different types of automobiles, which has led to increase in demand for products such as automotive sunroofs to improve the driving experience.
As per TMR study, the global automotive sunroof market is anticipated to advance at compound annual growth rate of 9.60% during the forecast period, starting in 2021 and ending in 2031.
Launch of new automotive sunroofs are helping leading market players in gaining an edge over other market players and in generating new revenue streams.
Furthermore, in a bid to expand their presence in global market and increase their revenue, prominent automotive sunroofs market players are signing collaborative agreements with smaller players. Leading manufacturers are also looking to increase their production capacities in a bid to meet rising consumer demand for different automobiles.
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Key Findings of Automotive Sunroof Market Study
- Rising Need for Improved Visions within Vehicles Augmenting Growth in Automotive Sunroof Market: The last few years have witnessed an increase in consumer need for improved vision inside the automobile. As a result, the demand for sunroofs among customers has risen, which has led to leading manufacturers integrating sunroofs in different types of vehicles, thereby boosting the growth in automotive sunroof market
- Increasing Demand for Advanced Automotive Sunroofs Propelling Overall Market: The automotive sunroof market globally could witness significant growth during the forecast period. Key driving factor for the growth in global market could be innovations to existing products. Sunroof products integrated with features such as advanced electric control systems and rain sensors could augment the growth in overall market, during the forecast period between 2021 and 2031
- Rising Demand for Panoramic Glass Sunroofs Could Boost Market Growth: Panoramic glass sunroofs are expected to account for the largest share in global market, during the forecast period. Factors such as rising demand for sports utility vehicles among youthful population, as well as increasing demand for different types of vehicles are expected to contribute to growth in panoramic glass segment and in turn, assist in expansion of overall automotive sunroof market
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Automotive Sunroof Market: Key Drivers
- Increasing customer preference for improved driving experience is one of the key driving factors of global automotive sunroof market
- Rising demand for vehicles, enabled with numerous advanced features is triggering the growth in overall automotive sunroof market
Automotive Sunroof Market: Regional Market Insights
- Globally, Europe emerged as the dominant region in overall automotive sunroof market, in 2020. Factors such as increased presence of leading manufacturers and high demand for luxury and premium cars in countries such as U.K. and Germany played key roles in market growth in the region
- Asia Pacific is projected to emerge as the leader in global market during the forecast period. Growing automobile manufacturing, as well as increasing demand for luxury vehicles due to rising disposable income among consumers in countries such as India and China could trigger market growth in the region
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Automotive Sunroof Market: Key Players
The global automotive sunroof market is competitive, with the presence of numerous leading players. It is expected that entry of new players will intensify the competition in overall market, during the forecast period.
Prominent market players are making huge investments in research and development activities to produce improved products that would meet customer requirements.
Some of the leading players include Inteva Products LLC, Yachiyo Industry Inc., Webasto SE, Valmet Automotive, and CIE Automotive.
The global automotive sunroof market is segmented as follows:
- Product Type
- In-Built Glass
- Panoramic Glass
- Tilt and Slide Glass
- Top-Mount Glass
- Pop-Up Glass
- Solar Glass
- Foldable Fiber
- Removable Fiber
- Material
- Glass Sunroof
- Fiber Sunroof
- Vehicle Type
- Passenger Vehicle
- Hatchback
- Sedan
- Utility Vehicle
- Light Duty Vehicle
- Medium & Heavy Duty Trucks
- Bus & Coaches
- Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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