Automotive Sun Visor Market is projected to reach US$ 18.1 Bn by 2031- Transparency Market Research

A recent analysis undertaken by Transparency Market Research (TMR) forecasts that the global Automotive Sun Visor market is set to achieve a substantial valuation of US$ 18.1 billion by the culmination of 2031. This insightful report also underscores the market's promising growth prospects, predicting a commendable Compound Annual Growth Rate (CAGR) of 4% during the forecast window of 2023 to 2031.

Central to the TMR report's mission is the delivery of a thorough appraisal of the global market, featuring key players in the Automotive Sun Visor sector. Through this assessment, the report offers an easily comprehensible depiction of the market's historical and current standing, alongside an anticipated outlook regarding its size and evolving trends. Beyond this, the report imparts essential data pertaining to market volume, share, revenue, production, and sales.

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The sun visor offers several advantages including heat absorption. The sun visor absorbs the heat and protects the electronic equipment in the car, thereby maintaining the temperature in vehicle cabin by blocking the sun light. The sun visor substrate is typically made form pressboard with the attachment of metal. Some sun visors are incorporated with mirrors and light for enhanced appearance. LCD sun visor is gaining popularity among consumers, as it not only blocks sunlight but is able to integrate DVD playback into the vehicle.

The conventional type sun visor segment is estimated to expand at a significant growth rate during the forecast period. Usage of conventional sun visor is high in passenger as well as commercial vehicles. Premium vehicles are equipped with the LCD type sun visors and hence, it is a highly attractive segment and is likely to expand at a significant growth rate during the forecast period. Rising demand for SUVs and premium vehicles across the globe, owing to preference by the young generation toward premium and SUVs, increase in purchasing power, and rise in per capita income are likely to drive the market. Sun visors are employed in light commercial vehicles and heavy commercial vehicles. Rise in demand for safety for drivers and passengers in commercial vehicles is likely to drive the sun visor market during the forecast period.

The passenger vehicle segment held major share of the market, in terms of value and volume, in 2017. It is expected to maintain its dominance during the forecast period. Increase in production of passenger vehicles across the globe, owing to several factors such as strong demand for passenger vehicle from consumers, rapid urbanization, and decline in bank interest rate, are anticipated to boost the passenger vehicle segment.

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Vinyl is widely utilized as a surface cover material for the sun visor in common vehicles due to its cost-efficiency over fabric material. Premium and luxury vehicles are equipped with fabric sun visors that enhance the overall appearance of the interior of these vehicles. Continuous rise in sales of premium vehicles and SUVs is likely to boost the demand for fabric material during the forecast period.

The OEMs segment is estimated to expand during the forecast period. The OEM segment is likely to expand at CAGR of about 4% during the forecast period owing to the increase in vehicle production across the globe, especially in Asia Pacific.

Asia Pacific is expected to dominate the global automotive sun visor market owing to high volume production of vehicles in China and India. Presence of major auto manufacturers in Asia Pacific is likely to propel the demand for sun visor during the forecast period. Availability of raw material and presence of small and large manufacturers of sun visor across the region are likely to propel the automotive sun visor market during the forecast period.

The list of key players operating in the Automotive Sun Visor market includes following names:

Irvin Automotive Products, Inc.
GUMOTEX
BRACE
GRIOS sro
Grupo Antolin
Atlas Holdings
KASAI KOGYO CO., LTD.
HOWA TEXTILE INDUSTRY CO., LTD.
BURSA OTOTRIM PANEL SANAYİ VE TİCARET A.Ş
FOMPAK
Benecke -Kaliko AG
Shanghai Daimay Automotive Interior Co., Ltd.
Hayashi Telempu Corporation
IAC Group

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Some of the key aspects that the study analyzes and sheds light are:

Which regions are witnessing rise in investments in the supply chain networks?
Which countries seems to have benefitted from recent import and export policies?
Which regions have witnessed decline in consumer demand due to economic and political upheavals?
Which are some the key geographies that are likely to emerge as lucrative markets?
Which regions are expected to lose shares due to pricing pressures?
Which regions leading players are expected to expand their footprints in the near future?
What are some the sustainability trends impacting the logistics and supply chain dynamics in the Automotive Sun Visor market?
What are some of the demographic and economic environments that create new demand in developing economies?
How are changing government regulations shaping business strategies and practices?

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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