by The automotive sunroof market comprises sunroof systems that provide fresh air, natural light, and an open feel experience to vehicle occupants. Sunroofs add to the aesthetic appeal, driving dynamics, and comfort of automobiles. Made from glass or composite plastic materials, sunroofs slide, tilt or pop up to open depending on design. They allow opening of the vehicle roof for ventilation without compromising safety.
The Global Automotive Sunroof Market is estimated to be valued at US$ 13048.63 Bn in 2024 and is expected to exhibit a CAGR of 8.4% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the automotive sunroof market are Acome, Aricent Inc, Agilent Technologies, AISIN AW Co Ltd, Analog Devices, Broadcom, Bosch, Daimler AG, Freescale, Harman, NXP, Renault SA, Renesas, Visteon, Wurth Elektronik, Yazaki Corporation. Due to the changing consumer preferences, there is rising demand for comfort features in vehicles. Major automakers are offering new sunroof designs to cater to this demand. Players in the market are expanding their production capacities globally to leverage the opportunities in international markets.
Key players operating in the automotive sunroof market are focusing on developing improved manufacturing technologies to increase efficiency and lower costs. The Automotive Sunroof Market Demand for premium and luxury vehicles integrated with sophisticated electronic sunroof systems is driving market growth. Manufacturers are investing in R&D to introduce innovative sunroof mechanisms and designs.
The global automotive sunroof market is expanding significantly due to increasing demand across international markets. Major countries like China, USA, Germany, Japan and India are contributing to market growth. Growing sales of automobiles integrated with comfort features is supporting the market. Increasing consumer preference for open roof experience even in small cars is fueling demand.
Market Key Trends
Automotive Sunroof Market Trends rend is the growing popularity of panoramic sunroofs. With advances in glass bending technologies, vehicle manufacturers are integrating expansive sunroofs covering almost the entire roof area of cars. Panoramic sunroofs enhance the inside ambience of vehicles and boost their styling quotient. They provide a sense of openness rivaling convertible vehicles. However, panoramic sunroofs are currently available mainly in premium and luxury vehicle segments due to their high costs. With anticipated decline in manufacturing costs, their adoption rate in mainstream vehicles is expected to increase substantially over the forecast period.
Porter’s Analysis
Threat of new entrants: The automotive sunroof market requires high initial costs for manufacturing plants and technology which make it difficult for new companies to enter the market. Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of sunroofs from different automakers. Bargaining power of suppliers: A few major companies dominate the supply market for automotive sunroof components giving them strong bargaining power over automakers. Threat of new substitutes: There are no close substitutes for sunroofs however convertible tops can be considered a substitute. Competitive rivalry: The market is competitive with major automakers having similar sunroof offerings.
Geographical Regions
North America dominates the global Automotive Sunroof Market currently in terms of value due to high consumer demand, availability of luxury vehicles, and high average spending capacity of consumers. Another major region is Europe owing to presence of leading automakers and increasing trend of open-air driving experience.
The Asia Pacific region especially China is expected to witness the fastest growth in the automotive sunroof market during the forecast period due to rising vehicle production and sales. Factors such as growing middle class population, increasing disposable incomes, and preference for premium vehicles will drive the demand in Asia Pacific.
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1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
