The global Automotive Sunroof Market is estimated to be valued at US$ 9,361.1 Mn In 2021 and is expected to exhibit a CAGR of 10.0% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Automotive sunroofs are transparent or opaque panels that can be installed in vehicles’ roofs to provide natural light, ventilation, and a sense of space. The increasing demand for enhanced comfort, aesthetics, and luxury features in vehicles is driving the market for automotive sunroofs. Sunroofs offer various advantages, including improved air circulation, reduced noise, and enhanced vehicle aesthetics, which are driving their adoption in the automotive industry. The rising disposable income and changing consumer preferences for luxurious and comfortable vehicles are further contributing to the market growth.
B) Market Key Trends:
One key trend in the Automotive Sunroof Market is the growing demand for panoramic sunroofs. Panoramic sunroofs extend across a large portion of the vehicle’s roof, offering a panoramic view of the sky and surroundings. These sunroofs provide a spacious and open feel to the vehicle interior, enhancing the overall driving experience. The increasing preference for a panoramic view and the desire for a luxurious and premium feel has led to a significant demand for vehicles equipped with panoramic sunroofs. This trend is expected to continue driving the growth of the automotive sunroof market in the forecast period.
The automotive sunroof market can be segmented based on type, material type, vehicle type, and region. Among the different types of sunroofs available, the panoramic sunroof segment dominates the market. This can be attributed to the increasing demand for luxury vehicles and the growing trend of enhanced cabin experience among consumers. Panoramic sunroofs provide a larger opening, allowing more natural light into the cabin and creating a sense of openness. Additionally, panoramic sunroofs offer a better view of the surroundings, enhancing the overall driving experience. As a result, they are preferred by customers who value aesthetics and comfort in their vehicles.
The global automotive sunroof market is expected to witness high growth, exhibiting a CAGR of 10.0% over the forecast period of 2022-2030. This growth can be attributed to several factors. Firstly, the increasing demand for premium and luxury vehicles, especially in emerging economies, is driving the market. Sunroofs are considered a premium feature and are often associated with high-end vehicles. As disposable incomes rise and consumer preferences shift towards more luxurious vehicles, the demand for sunroofs is expected to increase.
From a regional perspective, North America is the fastest-growing and dominating region in the automotive sunroof market. This can be attributed to the high consumer awareness and acceptance of sunroofs in the region. Additionally, the presence of key players and technological advancements in sunroof systems further contribute to the growth of the market in North America.
Key players operating in the automotive sunroof market include Magna International Inc., Webasto Roof Systems Inc., Mitsuba Corporation, Inteva Products (Acquired by CIE Automotive), Johnan America Inc., Aisin Seiki Co. Ltd., ACS France SaS, Yachiyo Industry Co. Ltd., and Inalfa Roof Systems. These players are actively engaged in research and development activities to introduce innovative sunroof solutions and gain a competitive edge in the market. They also focus on strategic partnerships and acquisitions to expand their market presence and cater to the changing customer demands.