Press release
Automotive Roof System Market Report 2024: Strategies And Recent Developments | Webasto SE, Magna International Inc., Valmet Automotive Inc., Inteva Products LLC, Covestro AG
Automotive Roof System Market Characteristics
The Business Research Company offers in-depth market insights through Automotive Roof System Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The automotive roof system market size has grown strongly in recent years. It will grow from $31.34 billion in 2023 to $33.83 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to consumer demand for panoramic sunroofs, integration of advanced materials, regulatory standards for vehicle safety, consumer preference for convertible options, global expansion of premium and luxury vehicles.
The automotive roof system market size is expected to see strong growth in the next few years. It will grow to $45.6 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to sustainability and lightweight design, increased adoption of electric vehicles, urbanization and parking challenges, customization and personalization trends, advanced safety standards. Major trends in the forecast period include integration of smart roof technologies, lightweight materials for improved efficiency, rise of convertible and retractable roof designs, increased adoption of solar roof technology, focus on aerodynamics and design.
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Market Segmentation:
The automotive roof system market covered in this report is segmented -
1) By Type: Sunroof System, Panorama Roof System, Multi-Optional Roof System, Solar Roof System, Light Weight Roof System, Inbuilt Roof System, Other Types
2) By Material: Aluminium, Steel, Polycarbonate, Glass-Plastic Composite, Fiber-Plastic Composite
3) By Vehicle Type: Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles
4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Major Driver - Surge In Passenger Car Sales Propels Automotive Roof System Market
The increasing passenger car sales are expected to propel the growth of the automotive roof system market going forward. Passenger vehicles are motor vehicles that are used for the transport of passengers for commercial purposes. The automotive roof system provides effective ventilation, and enhanced driving experience for the rider in passenger vehicles, as a result, increasing sales of passenger cars increases the demand for the automotive sunroof system market. For instance, in January 2023, according to Eurostat, a Europe-based government agency, the number of electric passenger cars increased by 75% in 2021 with 2 million vehicles. Therefore, the increasing passenger car sales drives the automotive roof system market.
Competitive Landscape:
Major companies operating in the automotive roof system market report are Webasto SE, Magna International Inc., Valmet Automotive Inc., Inteva Products LLC, Covestro AG, Inalfa Roof Systems Group B.V., AAS Automotive Ltd., Aisin Corporation, ALUPROF S.A., Robert Bosch GmbH, The Haartz Corporation, JAC Products, CIE Automotive, U-Shin Ltd., Continental AG, Saint-Gobain Sekurit, GAHH LLC., CTS Automotive Products, Yachiyo Industry Co. Ltd., Minda KTSN Plastic Solutions GmbH & Co. KG, Mobitech Industries LLP, ACS Industries Inc., Kinugawa Rubber Industrial Co. Ltd., Roth North America, Eagle Ottawa LLC, RIMO GmbH, lkeda Manufacturing Co. Ltd., Tata Sons Private Limited, BOS Group, Carcoustics International GmbH, Hoerbiger Holding AG .
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Top Trend - Technological Advancements Transforming The Automotive Roof Systems Market
Technological advancements are a key trend gaining popularity in the automotive roof systems market. Major companies operating in automotive roof systems are introducing innovative roof systems to sustain their position in the market. For instance, in February 2022, Front Runner Outfitters, a US-based company operating in automotive roof systems, launched a new slim sport roof rack system. This low-profile roof rack system is designed for activity-focused drivers, even customizing is available, allowing integration of most of Front Runner's top-mounted rack accessories.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Roof System Market Characteristics
3. Automotive Roof System Market Trends And Strategies
4. Automotive Roof System Market - Macro Economic Scenario
5. Automotive Roof System Market Size And Growth
…..
27. Automotive Roof System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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