The automotive sunroof allows natural light and fresh air to enter the vehicle while providing occupants with a sense of openness. Made of glass, the sunroofs can be sliding, pop-up, or removable models that enhance the feel of a convertible even with the roof closed. The increasing production of luxury and premium vehicles with advanced features is fueling the demand for automotive sunroofs. Luxury automakers are offering panoramic sunroofs as a standard or optional feature to attract customers.
The global automotive sunroof market is estimated to be valued at US$ 11326.93 Mn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the automotive sunroof market is the rising demand for panoramic sunroofs. Panoramic sunroofs offer a feeling of open-air driving with more headroom and increased sense of space in a vehicle. They have become increasingly popular features in today’s luxury vehicles. Major automakers have expanded their offerings of vehicles equipped with large panoramic roofs. For instance, BMW offers a panoramic sunroof on various models including 5 Series, 7 Series, X5, and X7. The growing consumer preference for open-air driving experience even with the roof closed is expected to drive the demand for panoramic sunroofs over the forecast period.
Porter’s Analysis
Threat of new entrants: The automotive sunroof market requires high initial investments and established supplier relationships which poses significant entry barriers for new players.
Bargaining power of buyers: The presence of numerous established automakers along with availability of alternative sunroof designs provides high bargaining power to buyers.
Bargaining power of suppliers: Key suppliers for sunroof components such as glass panels and actuators have significant influence over market players due to specialized technological expertise and inputs.
Threat of new substitutes: Alternate openable rooftop options exist but lack functional versatility and popularity compared to sliding/pop-up sunroofs, restricting threat from substitutes.
Competitive rivalry: Major players compete intensely on technology, quality, pricing and aftersales which has led to ongoing innovations and consolidations in the market.
Key Takeaways
The Global Automotive Sunroof Market Size is expected to witness high growth over the forecast period.
Regional analysis: The Asia Pacific region is projected to be the fastest growing as well as the largest market for automotive sunroofs during the forecast period. This can be attributed to rising disposable incomes and preference for luxury vehicles in emerging economies like China and India. In addition, localization of production by overseas automakers has made sunroof systems more affordable.
Key players: Key players operating in the automotive sunroof market are Acome, Aricent Inc, Agilent Technologies, AISIN AW Co Ltd, Analog Devices, Broadcom, Bosch, Daimler AG, Freescale, Harman, NXP, Renault SA, Renesas, Visteon, Wurth Elektronik, Yazaki Corporation. Major players are focusing on development of innovative sliding sunroof mechanisms and glass panels with improved aesthetics, sealing and convenience features.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
