Report: Automotive ‘sunroof market’ worth over $40 billion by 2025
Glass sunroof market for automotive will account for a significant revenue share during the forecast period, owing to increasing preference of consumers to opt for vehicles fitted with premium glass-based sunroofs.
SELBYVILLE, Del., April 25, 2019 /PRNewswire/ — The automotive sunroof market is poised to rise from $21 billion in 2018 to over $40 billion by 2025, according to a 2019 Global Market Insights Inc. report.
Proliferating vehicle sales along with rising preference of customers to opt for vehicles with improved aesthetics, premium driving experience and superior features are expanding the market size over the forecast timeframe.
Rising preference of automobile manufacturers to incorporate high-end aspirational features across their product lineup further accentuates the industry share.
Industry participants are continuously investing in R&D for developing advanced technologies to expand their market share.
Additionally, industry players are also engaged in filing patents for their customized roof solutions, thereby positively influencing the automotive sunroof market size.
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Integration of advanced electronic modules for automatic operation during diversified climatic conditions is providing a positive outlook for the automotive sunroof market expansion.
Additionally, industry players are working on innovative solutions for incorporating advanced hardware to facilitate improved operation automatically during rainfall.
The incorporation of sensors and components along with advancements in glass technologies including scratch resistance and durability will further accentuate the market size over the projected timeframe.
Automated technologies along with advancements in smart key technologies are positively influencing the automotive sunroof market growth over the study timeframe. For instance, Viper offers a SmartStart GPS Module, based on CDMA technology, that automatically operates the windows and sunroof when the vehicle owner approaches the vehicle.
Additionally, the availability of improved ceramic coating technologies for strengthening the sunroof glass to prevent it from shattering is further boosting the revenue generation.
Glass accounted for a significant revenue share in 2018. This dominance can be attributed to the increasing preference of consumers to opt for vehicles fitted with premium glass-based sunroofs.
The improved ventilation along with reduced claustrophobia tendencies are further supporting the segment share over the study timeframe.
Increasing focus of manufacturers for offering UV protection along with laminated and tinted glass are further accelerating the automotive sunroof market share over the forecast timeframe.
Panoramic will grow significantly from 2019 to 2025. This growth is attributed to the improved aesthetics offered by these sunroofs compared to its counterparts. Moreover, the standard fitment of these roofs in premium and luxury vehicles along with the availability of customized solutions based on consumer requirements are providing a positive outlook for the automotive sunroof market expansion over the study timeframe.
Manual will showcase a considerable growth in the automotive sunroof market. This share can be attributed to the availability of these roofs at lower costs compared to the counterparts. Moreover, the absence of any complex motors or electronic mechanisms reduces the system weight considerably and contributes towards lowering the overall maintenance costs.
Aftermarket will showcase a considerable growth rate over the study timeframe. This growth can be credited to the increasing cases of repairs and replacements owing to car accidents. Moreover, the requirement for periodic maintenance along with replacement of old motors for appropriate functioning are further supporting the automotive sunroof market growth over the projected timeframe.
Europe will grow considerably, owing to the presence of multiple automotive manufacturers across the region. Automotive manufacturers including Volkswagen Group, BMW and Daimler, among others, are introducing advanced products with incorporated solar cells across their vehicles to increase the aspirational value. Moreover, development of advanced safety technologies including sunroof airbags are further strengthening the market share over the study timeframe.
A few of the players operating in the automotive sunroof market include Webasto, Inteva, Inalfa Roof System and Valmet Automotive. Industry players are focusing on expanding their production capabilities for catering to the increasing demand.
