Asia Pacific Automotive Sunroof Market to 2027 - Analysis by Mount Type (Slide-in Sunroof, Slide-out Sunroof, Panoramic Sunroof, Pop-Up); Material (Fabric, Glass); Application (Premium Cars, SUV, Sedan Cars) and Country
The automotive sunroof market in Asia Pacific was valued US$ 1,440.17 million in 2019 and is projected to reach US$ 1,600.89 million by 2027; it is expected to grow at a CAGR of 6.5% from 2020 to 2027. Asia Pacific is the key region in the automotive sunroof market, and the China, japan and South Korea are among the prominent countries in this region. It is one of the major automotive manufacturing hubs in the Asia Pacific region.
China reported ~21.4 Million vehicle parc in 2019; it is the largest producer as well as the biggest market for car sales in the world. The overall car sales fell by 1.9% in 2019, compared to that in 2018; however, the demand for premium cars sedans and SUVs increased at the rate 18.8% and 3.5%, respectively, in 2019, compared to the rate in 2018. All major manufacturers of luxury vehicles, including Mercedes-Benz, BMW and Audi, reported positive figures in November 2019. In the earlier generations, consumers had a tendency of purchasing premium vehicles mainly to highlight their social status, but the sophisticated new generation of buyers has other reasons for buying premium autos, which mainly include the need of luxury and clever technologies. As per the study conducted by the China Association of Automobile Manufacturers (CAAM), women are playing an increasingly important role in the premium car market in China. In their survey, it was found that when selecting a vehicle model, women value safety features, exterior styling, and comfort, over the attributes favored by their male counterparts, such as social recognition of premium brands, powertrain technology, and bigger models. These factors are likely to drive the demand for sunroofs in sedans and SUVs.
Further, the surge in demand for improved visual aesthetics and enhanced traveling experience, coupled with the rise in disposable income of individuals, have a profound positive influence over the market growth in recent years. Moreover, the growing middle-class income group, especially in several fast-growing economies, also provides various profitable business opportunities for the global market players. Presently, the companies operating in the sunroof market offer slide-in, slide-out, panoramic, and pop-up sunroofs, among other types. Moreover, the integration of electric actuation through motors and improved glass materials has significantly upgraded the quality of sunroof options for the OEMs and after-sales markets. Thus, the automotive sunroof market is poised to offer several profitable business market opportunities for market players during the coming years. However, the decline in overall roof structural integrity and heavy weight of the panoramic glass panels continue to cause inconvenience to a lot of manufacturers operating in the market.
In terms of type, the slide-in sunroof segment led the Asia Pacific automotive sunroof market in 2019, and it is expected to continue to be the largest shareholder during the forecast period. However, the panoramic sunroof type segment is expected to register the highest CAGR in the market during the forecast period. The sunroof panels of slide-in sunroofs superimpose themselves between the automotive roof and headliner while opening and closing. Electric actuators or motors support seamless automatic operations of the sunroof with sliding of panels. Presently, a significant number of automotive manufacturers as well as sunroof manufactures provide the slide-in sunroofs, which is resulting in considerably larger market share of this type in terms of both market revenue and volume.
The Asia Pacific automotive sunroof market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Asia Pacific automotive sunroof market with respects to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia Pacific automotive sunroof market. A few of the players operating in the market in this region are ACS France SAS, Aisin Seiki Co. Ltd, Automotive Sunroof-Customcraft (ASC) Inc., Corning Incorporated, Inalfa Roof Systems Group B.V., Johnan Manufacturing Inc, Saint-Gobain Sekurit, Sunny Enterprises, Webasto Group, and Yachiyo Industry Co. Ltd.
Reason to buy
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific automotive sunroof market, thereby allowing players to develop effective long term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize In-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to type, material, and application
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