Automotive Sunroof Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029

Increasing Worldwide Motor Vehicle Production Complimenting the Automotive Sunroof Market Growth

The automotive sunroof market was valued at US$ 7.83 Bn in 2020 and expected to be growing at a compounded annual growth rate (CAGR) of 9.5% from 2021 to 2029. Sunroof is a part of the vehicle roof that allows light and/or air to enter the passenger compartment of the vehicle. It is either fixed or movable. The basic intention behind the use of the sunroof is to enhance the passenger's ride experience by the use of ambient light and fresh air. Growing automobile production is one of the most prominent factors aiding the automotive sunroof market growth. The fact that the world motor vehicle production in 2020 grew by 2.36% over 2019 supports the aforementioned sentence. Benefits of sunroof includes; improvement in driving comfort as it helps to provide fresh air, thereby creating a natural air conditioning effect. Moreover, sunroofs also enhances the visual aesthetics of the vehicle by improving the internal and external appearance. Vehicles with sunroof are gaining in popularity among the young generation. In addition, rising demand for SUVs and premium vehicles is another major factor complimenting the sunroof market growth. Stable economic conditions, rise in per capita income and decrease in bank interest rates are some of the most important factors supporting the demand growth of SUVs and premium vehicles. Developing countries such as India, China, Brazil and Mexico among others have witnessed significant growth in motor vehicle production in 2020 and are expected to play a crucial role towards automotive sunroof market growth in coming years.

Electric Vehicles to Offer Enormous Growth Potential for Automotive Sunroof Manufacturers

In 2020, the global automotive sunroof market was led by gasoline powered vehicles segment in terms of value. The segment expected to continue its dominance throughout the forecast period on account of the gasoline powered vehicles occupying a lion’s share in the overall motor vehicles sold. Moreover, in the coming years, demand for luxury and premium cars expected to rise significantly, thereby influencing the gasoline powered vehicles segment growth. However, in the coming years, the electric vehicles segment expected to witness a faster growth owing to increasing penetration of solar sunroofs in electric vehicles across the globe. The enactment of the climate change agreement in Paris has brought about a positive change pertaining to the promotion of environment-friendly vehicles. For instance, recently, Panasonic developed a solar photovoltaic car roof for the Prius PHEV. The 180-W-generating roof has the capability to recharge the standard 12-V lead-acid battery along with lithium-ion powertrain battery in the car. Therefore, such innovations are expected to support increasing adoption of sunroof in electric vehicles.

High Integration and Maintenance Cost Restraining Market Growth

High integration and maintenance cost are the two major factors restricting the automotive sunroof market growth. A high maintenance cost is involved in case of nonfunctioning of sunroofs, which may be due to factors such as faulty tracks, broken motors, shattered or chipped glass, etc. Moreover, lower penetration of sunroofs in entry-level vehicles is further restraining the automotive sunroof market growth. In addition, the cost of an aftermarket sunroof is far more expensive than ordering the sunroof option; this further offsets the demand for automotive sunroofs.

Presence of Leading Automobile Brands in Europe Supporting Automotive Sunroof Market Growth in the Region

Europe represents the largest market for automotive sunroof worldwide. The value share of Europe in the global automotive sunroof market stood at more than 35% in the year 2020. Moreover, the fact that Europe headquarters some of the leading automobile companies in the world further supports the automotive sunroof market growth in the region. Companies such as BMW AG, Daimler AG and Volkswagen Group among others are headquartered in the region and each of these companies have always remained in the forefront in terms of technological innovations. For instance, Audi has collaborated with Alta Devices that will facilitate the company to integrate solar panels into the panoramic glass roofs of its cars.

Historical & Forecast Period

This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments are calculated for the forecast period from 2021 to 2029.

Key players profiled in the report include Inalfa Roof Systems Group B.V., AISIN SEIKI Co., Ltd., Inteva Products, Magna International, Inc., Meritor, Inc., BOS Group, Yachiyo Industry Co., Ltd., Signature Automotive Products, Intensa, Johnan Manufacturing Inc., Advantech Plastics LLC, Whitehall Industries and Hyundai Mobis among others.

Key questions answered in this report

• What was the global automotive sunroof market size in 2020 and forecast for 2029?
• What are the current trends in the automotive sunroof market?
• What are the various valuable opportunities for the players in the market?
• Which is the largest regional market for automotive sunroof?
• Which region expected to be the fastest growing and why?
• What are the future prospects for the automotive sunroof market?
• What are the major drivers and restraints influencing the market growth?
• What are the new innovations by the leading players?
• What are the key strategies adopted by the leading players in market?

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