The Automotive Sunroof Market is estimated to be valued at US$ 11326.93 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
An automotive sunroof refers to an opening in the roof of an automobile that allows light and ventilation into the passenger compartment. Sunroofs can either be fixed, manually operated or automatically operated panoramic units. They provide an enhanced open feel experience to vehicle occupants and also enhances the aesthetic appeal of the vehicle. Various types of automotive sunroofs available are two-panel sunroof, multi-panel sunroof and panoramic sunroof.
Market Dynamics:
Growing demand for enhanced comfort and luxury vehicles: With increasing purchasing power and changing lifestyle of consumers, the demand for comfort features like sunroof in vehicles is rising rapidly across both luxury and passenger vehicle segments. Automakers are focusing on adding more features to attract customers and strengthen their brand value. This is expected to propel the growth of automotive sunroof market over the forecast period.
Rising development of advanced panoramic sunroof systems: Key players in the market are continuously investing in developing advanced panoramic sunroofs with features like one-touch open/close functionality, tilt and slide options etc. The adoption of such large glass area panoramic sunroofs is increasing owing to the enhanced feel and experience provided to vehicle occupants. This growing popularity of advanced sunroof systems will support the market expansion through 2030.
Segment Analysis
The Global Automotive Sunroof Market Size is primarily segmented into glass sunroof and fabric sunroof. Among these, the glass sunroof segment dominates the market and accounts for over 70% share globally. Glass sunroof offers premium feel to vehicles and enhances aesthetic appeal, due to which it is a preferred choice among consumers.
PEST Analysis
Political: Regulations regarding vehicle emissions and fuel efficiency are driving automakers to develop lightweight sunroofs made of advanced materials.
Economic: Increasing disposable income and changing lifestyle of consumers is positively impacting the market growth. Higher vehicle prices and loan rates can negatively impact segment demand.
Social: Preferences of younger generation towards open-air drives and customizable interiors are fueling segment sales.
Technological: Development of advanced sunroofs incorporating solar films and flexible substrates is gaining traction. Automakers focus on lightweight sunroofs for fuel efficiency.
Key Takeaways
The global automotive sunroof market is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing preferences of younger generation towards open-air driving experience and customizable interiors.
Regionally, Asia Pacific dominates the global market and is expected to retain its leading position during the forecast period. Countries like China, India, and Japan are major contributors to the Asia Pacific market. High vehicle production in China along with emerging middle-class population with increasing disposable income levels are fueling the regional demand.
Key players operating in the automotive sunroof market are Magna International Inc., Webasto Roof Systems Inc., Mitsuba Corporation, Inteva Products, Johnan America Inc., Aisin Seiki Co. Ltd., ACS France SaS, Yachiyo Industry Co. Ltd., and Inafla Roof Systems. Lighter sunroofs developed using advanced materials are gaining traction. Key players focus on innovative designs and technologies to gain competitive advantage.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it