Global Automotive Sunroof Market Overview:
The global automotive sunroof market is ascending continually. The market growth attributes to the rising developments of advanced and diversified technologies, creating exciting opportunities in the automotive industry. Luxury cars sales and vehicle owning capacity worldwide have been growing continually with the rising economic growth.
The growing production of customized sunroofs tracks is a major trend, creating substantial market demand. The demand for sunroof witnessed a spike over the past few years, garnering popularity, especially among youngsters. With the ever-increasing demand for innovative sunroof solutions increasing with rising automobile production, the market value is expected to escalate constantly during the years to come.
According to Market Research Future (MRFR), the global automotive sunroof market is estimated to witness a colossal upsurge by 2032, growing at an impressive CAGR during the forecast period (2023 – 2032). Increasing consumer preference for alternative fuel vehicles, such as hybrid power and solar power, influences automotive sunroof market size due to rising fuel prices.
Additionally, rising developments of sunroofs with built-in solar cells that can power vehicles push market revenues. Growing technological upgrades and increasing demand for luxury cars foster market growth, bringing about customized parts designed per customer requirements. Rapid industrialization worldwide escalates the demand for sunroofs.
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Global Automotive Sunroof Industry/ Innovation/ Related News:
Sep.03, 2021 —- BASF announced the development of a new automotive panoramic roof – Ultradur PBT, which has been jointly developed with Grupo Antolin (Spain), a Tier I automotive supplier. The new automotive sunroof frame is made with 60% lighter material than traditional solutions, and it is expected to replace steel in the structural bracket of sunroof headliners. The newly developed panorama roof would meet the increasing demand for panoramic roofs and reduce the weight of all automotive components to minimize CO2 emissions.
Major Players:
Players leading the global automotive sunroof market include Inalfa Roof Systems (Netherlands), Webasto (U.S.), Inteva (U.S.), Aisin Seiki (Japan), Magna International (Canada), Nippon Sheet Glass Co., Ltd (Japan), Yachiyo Industry Company Ltd. (Japan), Automotive Sunroof Company (Canada), BOS (Germany), and Preh IMA Automation (PIA) Evansville (U.S.), among others.
Moreover, significant developments in component materials combined with increasing factory-installed sunroofs positively impact the market demand. Increasing research and development initiatives by industry players to shift production plants to advantageous locations for short-distance supply reducing the overall costs, substantiates market growth.
Global Automotive Sunroof Market – Segments
The report is segmented into type, application, sales channel, and region. The type segment is bifurcated into spoiler sunroofs, inbuilt sunroofs, pop-up sunroofs, panoramic sunroofs, and others.
The application segment is sub-segmented bifurcated into Sedan, SUV, Hatchback, and others. Similarly, the sales channel segment is bifurcated into Aftermarkets and OEMs. The region segment is bifurcated into Asia Pacific, Americas, Europe, and rest-of-the-world.
Global Automotive Sunroof Market – Regional Analysis
Europe dominates the global automotive sunroof market. The largest market share is attributed to several notable players and the rising consumer preference for installing automotive sunroofs.
Germany holds the largest market share followed by the U.K. and France, owing to its leading automakers and smart technologies. The European automotive sunroof market is projected to retain its dominance throughout the estimated period.
Global Automotive Sunroof Market – Competitive Analysis
Highly competitive, the automotive sunroof market looks fragmented with the presence of several well-established and notable players. Matured market players incorporate strategic initiatives such as acquisition, collaboration, expansion, and technology launch to gain a competitive advantage.
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