Press release
Automotive Roof System Market is likely to register double digit CAGR during 2016 - 2026
Various type of roof systems such as sunroof system, panorama roof system, panorama with sunroof system, multi-optional roof, roof system with solar technology among many others. Roof system made up of polycarbonate, glass-plastic composite, and fibre-plastic composite and polyurethane composite are used in hybrid cars to save energy, and light weight construction. Revenue generated from the sales of automotive roof systems, globally is expected to increase at a moderate CAGR over the forecast period.
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Global Automotive Roof System Market Dynamics:
Global automotive roof system market is anticipated to be driven by growth in mid and premium range cars in Asia-Pacific, North America and European regions. There is slow but rising demand for convertible automobiles in European countries and which is also expected to drive the global automotive roof system market in the near future. Stringent government policies regarding limiting the hazardous emissions are forcing key players to manufacture light weight vehicles.
This in turn is expected to fuel the global automotive roof system market. Changing lifestyle of people coupled with rising disposable income and demand for premium cars is anticipated to boost the global automotive roof system market. Growing market for MUV and SUV is also expected to fuel the global automotive roof system market. A substantial amount of growth is expected in the aftermarket segment of global automotive roof top system market. High cost is expected to be one of the restraining factor for the growth of global automotive roof systems market.
Geographically, global automotive roof system market can be segmented as North America, Latin America, Western and Eastern Europe, Asia-Pacific excluding Japan, Japan, Middle East and Africa. Europe and North America are expected to remain prominent in the global automotive roof system market. Asia Pacific is expected to grow at a rapid pace in the global automotive roof system market. The convertible cars market is expected to be dominant in North America and Europe. The market share of mid-range car in Asia-Pacific is anticipated to increase in the near future.
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