The automotive sunroof market comprises products such as glass sunroof, tilting sunroof, and panoramic sunroof that enhances interior visibility and style quotient of vehicles. Automotive sunroofs offer convenience in terms of proper ventilation and lighting for vehicle occupants.
The global Automotive Sunroof Market is estimated to be valued at US$ 11326.93 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing demand for luxury features and convenience among consumers is a key trend fueling the growth of the automotive sunroof market. Manufacturers are focusing on developing advanced sunroof systems integrated with features such as rear sunshade, sliding panels, and overhead console for enhanced passenger experience. Moreover, sunroofs are no longer limited to high-end luxury vehicles as automakers have made efforts to make them affordable for mid-range models as well. This increasing affordability along with rising consumer preference for open-air driving is expected to support the market growth over the forecast period.
SWOT Analysis
Strength: The Global Automotive Sunroof Market Size has high demand from customers looking for comfortable commuting experience. Having a sunroof improves ventilation and allows natural light inside the vehicle.
Weakness: Vehicle weight and cost increase due to addition of sunroof components. Retrofitting sunroofs is also expensive. Issues like leakage and wind noise are weaknesses.
Opportunity: Advancements in glass technology enable more durable and lightweight sunroofs. Developing economies offer growth potential as their populations adopt personal vehicles.
Threats: Strict emission regulations could divert focus from comfort features to fuel-efficient designs. Electric vehicles may use roof space for batteries, posing a threat.
Key Takeaways
The global automotive sunroof market is expected to witness high growth fueled by demand across developing nations in Asia Pacific and Latin America. The Asia Pacific region dominates currently due to high vehicle production in China, India, and Japan. Key players like Magna International and Webasto cater to this fast growing regional market.
North America follows Asia Pacific in terms of size due to large number of vehicle sales annually in the US. Upgraded models with comfortable cabin features sell well. Manufacturers focus on lightweight yet durable sunroofs using advanced glass compositions to meet consumer and regulatory demands.
Key players operating in the automotive sunroof market are Magna International Inc., Webasto Roof Systems Inc., Mitsuba Corporation, Aisin Seiki Co. Ltd., and ACS France SaS. They leverage technologically advanced manufacturing facilities and supplier network across major automotive markets to mass produce high quality sunroof systems. Strategic collaborations enable integration into new vehicle platforms at a global scale.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it