Automotive Sunroof Market Business Overview, Challenges, Opportunities, Trends and Industry Analysis by 2023
The global automotive
sunroof market was valued at $4,924.5 million in 2015, and it is
expected to grow at a CAGR of 10.9% during 2016 - 2022. The factors
driving the growth of the global market includes growing need to control light
inside vehicle, growing demand for premium cars, and greater glass surface area
in automobiles, including larger sunroofs. Additionally, the development of
technology for reducing cost and expanding functionality of sunroof glasses and
increasing consumer preference towards automotive sunroof vehicles in
developing nations are expected to further propel the global demand of
automotive sunroof.
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As the market is becoming increasingly competitive, vehicle makers are using
sunroofs and other roof systems to help differentiate the product offering to
customers. The demand for sunroof as an after sales market has also contributed
to the growth of the global automotive sunroof market. The growing alternative
fuel vehicle segments have forced the automotive innovators to develop sunroofs
with built-in solar cells, which provide power to vehicles. The preference of
car involving a sunroof is a major trend witnessed in the automotive sunroof
market during the last few years.
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In 2015, Europe held the largest share in the global automotive sunroof
market. The automotive sunroof market in the region is anticipated to grow
significantly during the forecast period.Asia-Pacific held the second largest
share in the global market and it is also expected to witness the fastest
growth during the forecast period. The demand for automotive sunroof in
Asia-Pacific is expected to increase rapidly, owing to growing base of
automotive industry, and increasing demand for luxurious and premium
cars.
Some of the major companies operating in the global automotive sunroof
market include Webasto SE, Johnan America, Inc., Automotive Sunroof Company,
Nippon Sheet Glass Co. Ltd., Yachiyo Industry Co., Ltd., Corning Inc., Meritor
Inc., Aisin Seiki Co., Ltd., Inteva Products, LLC, and Inalfa Roof Systems
Group B.V.
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