Automotive sunroofs allow natural light and fresh air to enter cars while giving passengers an open-feel experience. They help improve the driving experience, cabin ambiance and create a luxurious appeal for vehicles. The automotive sunroof market comprises of multi-layered glass or fabricpanels that can be slid, popped up or removed altogether from the vehicle roof.
The global Automotive Sunroof Market is estimated to be valued at US$ 11326.93 million in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing demand for luxury vehicles equipped with advanced features has been a key growth driver for the automotive sunroof market. Over the forecast period, rising disposable incomes and changing preferences towards open-top driving experiences particularly in developing nations are expected to further fuel market demand. Manufacturers are actively focusing on new product innovations such as panoramic sunroofs that provide expansive glass panels for increased natural light exposure and an open cabin feel. Advancements in glass technology and lightweight fabrication methods are also helping reduce sunroof weight and costs.
SWOT Analysis
Strength: The automotive sunroof market has high potential for growth due to rise in disposable incomes and changing consumer preferences for open-air driving experiences.
Weakness: High costs associated with manufacturing and installation of advanced automotive sunroofs can negatively impact demand.
Opportunity: Growing demand for luxury and premium vehicles offers scope to expand automotive sunroof features into mid-range and economy car segments.
Threats: Strict emission norms across regions aim to make vehicles more fuel efficient, impacting designs involving additional weight and complexity.
Key Takeaways
The global automotive sunroof market is expected to witness high growth over the forecast period of 2023 to 2030 supported by increasing preference for features enhancing in-cabin experiences.
North America currently dominates due to high concentrations of luxury vehicle sales and aftermarket customizations. Europe follows in second place driven by strong sales of sunroof integrated models across major economies.
Key players operating in the automotive sunroof market are Canon Inc., Zebra Technologies Corporation, Hewlett-Packard (HP) Inc., Epson America, Inc., BIXOLON. With rising affluence, Asia Pacific is projected to emerge as the fastest growing regional market, led by China, India, and Japan. Vehicle manufacturers are positively responding to this trend through new launches and line extensions catering to evolution in buyer lifestyle needs.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
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