Automotive sunroofs allow natural light and ventilation into the vehicle interior while providing a panoramic view for the passengers. The growing popularity of premium and luxury cars with advanced features is fueling the demand for automated retractable sunroofs.
The global Automotive Sunroof Market is estimated to be valued at US$ 13048.63 Bn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for luxury vehicles is one of the key factors driving the automotive sunroof market. Premium and luxury car buyers prefer vehicles with features like sunroofs that enhances the interior ambience. Manufacturers are focusing on making sunroofs affordable through mass production while offering various styles like pop-up, panoramic or sliding type to attract more customers. This is expected to positively impact the sale of automotive sunroofs during the forecast period.
SWOT Analysis
Strength: The automotive sunroof market has strong growth prospects due to rising disposable incomes and improving standards of living which is increasing demand for premium and luxury vehicles equipped with sunroofs.
Weakness: High costs associated with manufacturing and integrating sophisticated sunroof systems into vehicles poses a challenge. Additionally, repairs and maintenance of complex multi-layer sunroof assemblies can be expensive.
Opportunity: Advancements in glass panel technologies enabling lighter, stronger, and more energy efficient sunroofs presents an opportunity for innovating advanced products. Additionally, the growth of electric vehicles and autonomous driving provides opportunities to integrate more advanced sunroofs.
Threats: Strict environmental and fuel efficiency regulations impose constraints on additional weight from large sunroofs, acting as a threat. Additionally, macroeconomic slowdowns and fluctuations in raw material prices pose threats.
Key Takeaways
Global Automotive Sunroof Market Size is expected to witness high growth over the forecast period of 2024 to 2031 supported by rising vehicle production and demand for upmarket features.
Regional analysis: The Asia Pacific region currently dominates the market and is expected to maintain its lead supported by high vehicle production hubs and rising disposable incomes in major countries like China and India enabling greater uptake of luxury vehicles.
Key players operating in the automotive sunroof market are Acome, Aricent Inc, Agilent Technologies, AISIN AW Co Ltd, Analog Devices, Broadcom, Bosch, Daimler AG, Freescale, Harman, NXP, Renault SA, Renesas, Visteon, Wurth Elektronik, Yazaki Corporation. These players are focusing on advancing glass panel technologies, integrating more sophisticated controls and connectivity, and offering panoramic multi-layer sunroof assemblies.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it