Global Automotive Retractable Roof Top (ARRT) Market 2017-2021
About Automotive Retractable Roof Top
An automotive retractable roof top (ARRT) is defined as convertible roof system, wherein the vehicle's roof can either be folded in step or part, resulting in vehicles with open roof top. The retractable hard top of the vehicle can either be operated manually or electronically, which makes the car known as a convertible in the automotive industry.
Technavio’s analysts forecast the global automotive retractable roof top market to grow at a CAGR of 9.88% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive retractable roof top market for 2017-2021. To calculate the market size, the report considers the unit shipments of vehicles equipped with retractable top.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Retractable Roof Top Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive retractable roof top market: Webasto, Magna International, Inalfa Roof Systems, and Pininfarina.
Other Prominent Vendors in the market are: Robbins Auto Top and Valmet Automotive.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is development of new technology leading to faster operating mechanism. The global ARRT market is rapidly evolving with the use of advanced technology is powertrain, infotainment, comfort and convenience, and safety sectors. The extensive use of electronic sensors and microprocessors in the vehicle along with advanced control modules has led to the development of more advanced retractable roof tops. With the fusion of more electronic components within the vehicles, the automotive convertible roof tops are becoming more dynamic and high on functionality with options of varied roof top fold mechanisms.”
According to the report, one of the major drivers for this market is decreasing cost of production and improving reliability leading to increased popularity. The global ARRT market is becoming more popular year-on-year with automakers increasing the product portfolio of vehicles with retractable roof tops. The roof designs have become much more dynamic and flexible, which is leading to the growing visual appeal of an automobile in the automotive market. There are some driving factors that have led to the growing market penetration of retractable roof tops such as declining cost of production with the advance in technology and increasing reliability.
Further, the report states that one of the major factors hindering the growth of this market is increasing margin pressure on the automotive OEMs in manufacturing of convertible roof tops. The global automotive industry is becoming increasingly complex and competitive with numerous players operating across the value chain. The rising sports car sales and growing demand for high-performance cars have led to the growing cost pressures in the sports car industry. The increasing cost pressure from sourcing of convertible roof top components till the development of retractable roof systems has led to the diminishing margins across different stakeholders as the market has become stiffer in nature.
Webasto, Magna International, Inalfa Roof Systems, Pininfarina, Robbins Auto Top and Valmet Automotive.
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