Automotive Sunroof Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The automotive sunroof market was valued at USD 6.24 billion in 2021, and it is expected to reach USD 10.90 billion in 2027, registering a CAGR of above 9% during the forecast period (2022 - 2027).
The COVID-19 pandemic has hindered the growth of the automotive sunroof market due to its impact on vehicle production, as there was continuous shut down of manufacturing facilities and disruption of the supply chain across various parts of the world.
Increasing passenger vehicle sales in conjunction with rising per capita income and consumer spending toward effective ventilation and brighter vehicle interiors to enhance the overall driving experience will positively influence the industry demand. Moreover, technological advancements in sunroof materials drive automotive sunroof demand. Thereby, ongoing design upgrades and material advancements to reduce weight and provide stability are boosting the industry's growth.
Europe dominates the sunroof market throughout the forecasted period, followed by North America and Asia-Pacific. The demand for sunroof systems as after-sale customization witnessed a spike in popularity, especially among the younger population in Asian countries. These factors greatly influenced the rebound of sunroof systems and are anticipated to propel the market globally.
Key Market TrendsIncreased Adoption of Sunroofs in Sports Utility VehiclesSport utility vehicles constitute one of the most popular automotive segments due to a wide range of vehicles of unmatched versatility in range, power output, and features. It is anticipated to witness an increased adoption, particularly in developing countries such as China and India, as consumer demand in these regions is growing at a faster pace. Thus, these factors have compelled manufacturers such as Ford, Chevrolet, Toyota, and Kia, among others, to further provide equipped features for enhanced customer satisfaction, as they were initially restricted to premium cars. For instance,
Moreover, Audi Q3, Audi Q7, Acura RDX, and BMW X3, X5, and X6 are some of the popular and new SUV models fitted with panoramic sunroofs, which are expected to dominate the SUV market and drive the growth rate of the automotive sunroof in SUVs. For instance,
The Asia-Pacific region accounts for the largest share of the global automotive sunroof market due to the presence of major automotive manufacturers, such as Hyundai-Kia, SuzUnited Kingdomi, Mitsubishi, Tata Motors Limited, Lexus, and Toyota. Growing car customization trends and a higher younger population demanding aftermarket sunroof installations are some of the major factors driving the market for sunroofs in these countries.
Moreover, governments across Asia-Pacific are taking initiatives for the development of the automotive sector, in turn boosting associated market development. Further government initiatives to increase the adoption of electric vehicles and the rise in mass segment cars offering sunroofs as an optional feature are responsible for the stimulating demand for in-vehicle sunroofs. For instance,
In union Badgat 2021 Indian government has declared various subsidies for electric cars. Such government initiatives in different countries are likely to boost manufacturers in the market to boost their production during the forecast period.
Competitive LandscapeThe automotive sunroof market is consolidated with the presence of major players, such as Webasto Group, Inalfa Roof Systems Group BV, and Inteva Products LLC, dominating the market. Due to the high profitability of the market, these major players focus on the acquisition of small regional players for a higher penetration into the regional markets.
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