Press release
Global Automotive Sunroof Market Poised for Remarkable Growth, Set to Exceed $18 Billion by 2031
The automotive sunroof market, valued at US$ 6.70 billion in 2020, is anticipated to witness a robust CAGR of 9.60% from 2021 to 2031, ultimately surpassing the value of US$ 18.36 billion by the end of 2031. This projection is underpinned by various factors, including the resurgence of high-volume car manufacturing in regions like China post the COVID-19 crisis and the escalating demand for automotive sunroofs, particularly from the younger generation.For Customization of this Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=17465&utm_source=Openpr&utm_campaign=Amit
Driving Forces Behind Market Growth
The surge in demand for premium vehicles and SUVs is a significant driver for the automotive sunroof market. The millennial and Generation Z population's inclination towards these vehicles, fueled by stable monetary conditions, increased per capita income, and declining bank financing costs, is steering the market's trajectory. To ensure sustained growth, major OEMs are advised to proactively inform car buyers about sunroof systems for premium vehicles and SUVs, especially in case of functional issues.
Post-Pandemic Resilience and Data-Driven Decision-Making
The automotive industry, having weathered the challenges posed by the COVID-19 pandemic, is now on a trajectory of healthy growth. Automakers are embracing data-driven decision-making to navigate new post-pandemic norms, adjusting supply chain planning, operations, and inventory management. This adaptability is crucial as global supply chains undergo significant overhauls, revealing vulnerabilities in countries and companies relying heavily on a limited number of trading partners.
Ensuring Business Sustainability
Manufacturers are maintaining balanced relationships with suppliers and ecosystem partners to mitigate the high development cost of sunroofs. Sunroof-enabled vehicles, though associated with luxury, face challenges such as high manufacturing costs and expensive maintenance. However, the market is witnessing innovations in sunroof materials, UV-reflective or tinted lenses, and advanced features like rain sensors, contributing to market expansion.
Materials and Product Innovation Driving Market Dynamics
The automotive sunroof market is witnessing a shift towards composite fibers, which offer beneficial properties and effectiveness. Glass sunroofs currently dominate the market, but composite fibers are gaining traction. In terms of product types, in-built glass and panoramic glass segments lead the market, driven by the rise in sales of passenger vehicles globally.
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SUVs and Luxury Cars as Market Catalysts
The consumer trend towards luxurious vehicles, especially in the SUV segment, is a key driver for the automotive sunroof market. Sunroofs enhance the driving experience by allowing fresh air intake and improving aesthetics. Initially exclusive to premium vehicles, sunroofs have become more accessible, contributing to increased demand.
Automotive Sunroof Market: Competition Landscape
Key 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.
CIE Automotive
Market Segmentation
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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