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Automotive Sunroof Market Insights 2024-2033: Growth Forecast and Trends |Key Players Webasto SE, CIE Automotive SA, Inteva Products LLC, Inalfa Roof Systems Group BV, Yachiyo Industry Co.
Automotive Sunroof Market Share
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According to The Business Research Company's, The automotive sunroof market size has grown rapidly in recent years. It will grow from $7.24 billion in 2023 to $8.01 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to consumer demand for enhanced driving experience, automotive design innovations, rise in disposable income, focus on aesthetics in vehicle manufacturing, increased demand for luxury and premium cars.
The automotive sunroof market size is expected to see rapid growth in the next few years. It will grow to $11.97 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to increased adoption of vehicle electrification, incorporation of sophisticated electrical systems within the automotive sector, heightened emphasis on safety and performance enhancements, emphasis on sustainable and eco-friendly materials, growth in the luxury car segment. Major trends in the forecast period include advancements in glass technology that provide greater ultraviolet protection, technological advancements in sunroof mechanisms, integration of smart sensors for automatic control, development of self-tinting and glare-reducing sunroof glass, adoption of energy-efficient and noise-reducing technologies.
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Market Drivers and Trends:
Increased passenger vehicle sales are expected to propel the growth of the automotive sunroof market going forward. Passenger vehicles are motor vehicles that are used for the transport of passengers for commercial purposes. The sunroofs in passenger vehicles make the interiors of vehicles bright, provide effective ventilation, and enhance the driving experience. Thereby, sunroofs are installed in passenger vehicles to enhance the overall experience of passengers. For instance, according to the China Association of Automobile Manufacturers, the sales of passenger vehicles were approximately 21.48 million in 2021, up 6.5% from the previous year. Therefore, increasing passenger vehicle sales are driving the growth of the automotive sunroof market.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
Webasto SE, CIE Automotive SA, Inteva Products LLC, Inalfa Roof Systems Group BV, Yachiyo Industry Co. Ltd., Johnan America Inc., Signature Automotive Products LLC, Magna International Inc., Mitsuba Corporation, AISIN Corporation, Wuxi Ming Fang Automobile Parts Industry Co. Ltd., Automotive Sunroof-Customcraft Inc., BOS GmbH & Co. KG, Asahi Glass Co Ltd., Valmet Automotive Inc., Corning Incorporated, Meritor Inc., Yuhuan Mingda Auto Parts Co. Ltd., Aguti Produktentwicklung & Design GmbH, Inoac Corporation, Preh GmbH, Wuhu Mosun Technology Co. Ltd., Guelph Manufacturing Group Inc., CTS Corporation, GAHH Automotive Group, Wilhelm Karmann GmbH, Nippon Sheet Glass Co. Ltd., Saint-Gobain Sekuri, C. Rob. Hammerstein Group, KRD Sicherheitstechnik GmbH
Automotive Sunroof Market 2024 Key Insights:
• The automotive sunroof market size is expected to see rapid growth in the next few years. It will grow to $11.97 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%.
• Rising Passenger Vehicle Sales Boost Automotive Sunroof Market Growth
• Innovative Advancements In Automotive Sunroofs With The (Advanced Driver Assistance Systems) ADAS Roof Module
• Asia-Pacific was the largest region in the automotive sunroof market in 2023
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