"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.

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.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Automotive Sunroof market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Automotive Sunroof market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Automotive Sunroof market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Automotive Sunroof market?
• Which is the largest regional market for Automotive Sunroof market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Automotive Sunroof market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Automotive Sunroof market worldwide?