Global Automotive Sunroof Market - Growth, Trends, and Forecast (2018 - 2023)
The market is projected to grow at a CAGR of 10.81% during the forecast period. A recent study by Ford on the car-buying trends in 22 countries across Europe revealed that over 10% of the buyers preferred a car with a sunroof to a car without a sunroof. Having understood this recent trend, various automobile manufacturers are now offering either built-in or optional sunroof systems in mid or premium segment cars. The Vista Roof, a panoramic glass roof, has been available on Ford Edge since 2007. Owing to the consumer popularity, Ford has also made it available for Mustang, Flex, and Explorer models. This sunroof also features an SPF-50 rating that makes it suitable for every type of skin. Additionally, it has been able to even surpass the internal expectations and has automakers looking at other potential applications for optional features. Growing alternative fuel vehicle segments have also pushed the automotive innovators to invent sunroofs with built-in solar cells that provide power to the vehicles.
By material type, the global automotive sunroof market has been segmented into two segments, namely, glass and fabric. The glass segment is further segmented into pop-up type, built-in type, tilt ‘n slide type, top-mount type, panoramic type, and solar type. Similarly, the fabric segment has been further segmented into two more sub-segments, namely, foldable and removable types. The market for the glass sunroof segment constituted over 70% of the overall sunroof market share. This is further expected to reach over 80% by 2025, owing to the latest innovations in the field of solar sunroofs for electric vehicles and panoramic sunroof segments.
By vehicle type, this market has been segmented into hatchback cars, sedan cars, premium cars, and others. Lately, the automotive vehicle production has been growing rapidly with a substantial increase in the global population and the rise in the number of households that possess a vehicle. The demand for sunroof systems, as an after-sales market, has witnessed a spike in popularity, especially among the younger population in the Asian countries. Furthermore, the trend of preferring a car with a sunroof rose to as high as 34% in 2016, which persuaded various manufacturers to employ sunroofs as a standard or an optional entity.
The global automotive sunroof market has been segmented into five major regions, namely, North America (U.S., Canada, and others), Europe (U.K., France, Germany, Russia, and others), Asia-Pacific (China, Japan, India, Australia, and others), South America (Brazil, Argentina, and others), and Africa & the Middle East (South Africa, Saudi Arabia, and others). Europe and North America are the major markets in the sector. However, the growing automobile industry in the Asia-Pacific region is expected to drive the market for sunroof systems, with India, China, and Japan emerging as automotive manufacturing hubs and major markets for after-sales car customization in this region.
Key Developments in the Market: