Automotive Sunroof Market Expected to Reach $13.6 Billion by 2030.

According to a new report published by Allied Market Research, titled, “Automotive Sunroof Market," The automotive sunroof market size was valued at $5.75 billion in 2020, and is estimated to reach $13.6 Billion by 2030, growing at a CAGR of 9.3% from 2021 to 2030.

An automotive sunroof is a movable or mobile panel on the roof of a vehicle (any type of car, for example – sedan, SUV, and hatchback) that opens to uncover a window from the top, allowing fresh air to enter the passenger’s compartment in the car. It is also a way for people to enjoy the scenery and breathe in fresh air. Sunroofs are available in numerous shapes, sizes as well as styles and can be operated in dual ways, the whole roof & tilt function.

In addition, the automotive sunroof market has witnessed significant growth in recent years, owing to increase in demand for safety, comfort, and aesthetic features. These vehicles provide a natural condition and enhance the vehicle’s aesthetics. For instance, in 2019, Kia introduced Seltos, with a sunroof to improve the passenger experience. Moreover, the companies operating in the market have adopted collaboration, partnership, product launch, and acquisition to increase their market share and expand their geographical presence. For instance, in 2020, Webasto Group expanded its business with its new roof plant and battery center in Jiaxing (Zhejiang Province) close to Shanghai to strengthen the core business of roofs in China.

In 2021, Webasto Group launched the Roof Sensor Module to shape the future of autonomous driving with camera, radar, and lidar technologies to detect obstacles, road users, and hazards in all weather conditions. Thus, rise in advanced technologies to remove fog or frost from the windows enhances visibility in all weather conditions with better illumination, subsequently increasing the comfort level for passengers sitting inside. Hence, increased safety, comfort level, and convenient features in the upcoming models are expected to drive the automotive sunroof market globally.

The global automotive sunroof market report is segmented on the basis of material type, vehicle type, and region. Based on material type, the market is categorized into glass & fabric material. The glass segment is further classified into tilt & slide sunroof, panoramic sunroof, pop-up sunroof, and solar sunroof. Based on vehicle type, the market is categorized into gasoline-powered vehicle & electric-powered vehicle. The gasoline-powered vehicle segment is further categorized into hatchback, sedan, and sport utility vehicle (SUV). The electric-powered vehicle is further classified into battery electric vehicle (BEV), hybrid electric vehicle (HEV), and plug-in hybrid vehicle (PHEV). Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key factors that drive the growth of the global market are the innovation in glass technology and the rise in demand for safety, comfort, and convenience features. However, high integration & maintenance costs and low penetration of power sunroof in low segment vehicles hamper the market growth. Moreover, increasing penetration of solar sunroofs in electric vehicles and surging sales of vehicles create ample opportunities for the automotive sunroof market growth during the forecast period.

According to Abhay Singh, Lead Analyst, Automotive and Transportation at Allied Market Research, “By material type, the glass segment dominated the global automotive sunroof industry in 2020, in terms of revenue. On the basis of vehicle type, the gasoline powered vehicle segment incurred a higher share in 2020. Region wise, Europe is the highest revenue contributor at present, followed by Asia-Pacific.”

KEY FINDINGS OF THE STUDY

• By material type, the fabric segment is expected to register a significant growth during the forecast period.
• Depending on vehicle type, the electric powered vehicle segment is anticipated to exhibit significant growth in the near future.
• Region wise, Asia-Pacific is anticipated to register the highest CAGR.

COVID-19 IMPACT ANALYSIS

• The COVID-19 pandemic has hit the business world with unprecedented scale and speed.
• It has caused closures of businesses, reduced factory outputs, and disruption to global manufacturing industries & their supply networks.
• The government authorities worldwide have taken strong measures to stop the spread of this new disease, such as nation-wide lockdown and isolation of people at high-risk areas, due to the high infectivity and destructiveness of COVID-19 suddenness and its outbreak.
• Owing to the continuous shutdown of manufacturing facilities and disruption of the supply chain across various parts of the world, the growth of the market has been hampered due to the impact on vehicle production.
• Majority of the manufacturing plants have been shut down, municipalities are functioning slowly as compared to the past, and the automotive and semiconductor industries are at a halt, thereby negatively impacting the market.
• The reduced production of automotive components due to the temporary shutdown of manufacturing plants, is expected to negatively impact the growth of the market.

The key players operating in the global automotive sunroof market are Aisin Corporation, Automotive Sunroof-Customcraft (ASC) Inc., BOS Group, CIE Automotive, Inalfa Roof Systems Group B.V., Inteva Products, Magna International Inc., Johnan America, Inc., Webasto Group, and Yachiyo Industry Co., Ltd.