Coherent Market Insights

Automotive Sunroof Market To Be Valued at US$ 22,072.9 Mn By 2030

Automotive Sunroof Market To Be Valued at US$ 22,072.9 Mn By 2030 - Coherent Market Insights

Publish In: Nov 09, 2022

The global automotive sunroof market is estimated to account for US$ 9,361.1 Mn in terms of value by the end of 2021. An automotive sunroof is a panel on the roof of a car that allows fresh air and light into the passenger compartment. It also improves the look of a vehicle and increases its value. They are available in various styles, shapes, and materials, and can be powered or manually operated. A moonroof is another type of automotive sunroof. These roof panels slide up and down between the roof and headliner to let the fresh air in. The sunroof's top part is protected by a retractable headliner shade. These shades may be electric or manual.

Global Automotive Sunroof Market: Drivers

Growing adoption of panoramic sunroofs for vehicles is expected to fuel growth of the global automotive sunroof market over the forecast period. Panoramic sunroofs offer multiple advantages such as they let the light in, which makes the passenger compartment look bigger and allow the passengers to enjoy the sky view above them. Thus, consumers across the globe are increasing adopting vehicles with panoramic sunroofs, and this factor is likely to support growth of the market in the near future.

Global Automotive Sunroof Market: Opportunities

Rise in demand for premium segment vehicles all over the world is leading to high demand for power sunroof, and this is expected to create lucrative environment for growth opportunities in the global automotive sunroof market over the forecast period. For instance, recently, BMW introduced its seventh-generation 7 Series sedan, and announced that it will go on sale globally in late 2022 and it will be available in India sometime in 2023. Similarly, Volvo cars India also announced that its C40 Recharge Coupe SUV will be available in Indian market in 2023.

To know the latest trends and insights prevalent in the Global Automotive Sunroof Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/automotive-sunroof-market-5339

Global Automotive Sunroof Market: Restraints

Disrupted automotive market due to COVID-19 pandemic is expected to hamper growth of the global automotive market over the forecast period. Automotive industry across the globe was negatively impacted by the outbreak of coronavirus, as several industrial operations were disrupted and production & demand was significantly declined all over the world. This also impacted related markets of automotive parts and components.

Global Automotive Sunroof Market - Impact of Coronavirus (Covid-19) Pandemic

The global automotive sunroof market was negatively impacted by the epidemic of COVID-19. The virus outbreak in China affected several industries across the globe including automotive. Vehicle sales substantially decreased in several regions. As many countries imposed lockdowns as safety measures to prevent the virus spread, industrial operations were disrupted during the pandemic. Manufacturing facilities were closed down temporarily and supply chains were affected due to suspended transportation. This majorly impacted production and demand in several industries. As the sales of vehicles reduced everywhere, it affected demand for automotive sunroofs. And this further impacted growth of the global automotive sunroof market during the COVID-19 pandemic.

Key Takeaways:

The global automotive sunroof market was valued at US$ 9,361.1 Mn in 2021 and is forecast to reach a value of US$ 22,072.9 Mn by 2030 at a CAGR of 10.0% between 2021 and 2030.

Among the sales channel segment OEM held dominant position in the global automotive sunroof market in 2021, accounting for 81% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Global Automotive Sunroof Market Trends:

Growing automotive industry in France is expected to boost growth of the global automotive sunroof market in Europe, in the near future. Consumers in this region are opting for vehicles having factory-fixed sunroofs. The sales as well as production of passenger vehicles is increasing in this region, which is driving the automotive industry. Moreover, manufacturers such as Alfa Romeo and Fiat have production facilities in the region. Due to growing automotive industry, the demand for sunroofs is also witnessing a boom. These factors further fuel growth of the global automotive sunroof market in European region.

Players in the global automotive sunroof market are focusing on inorganic growth strategies such as partnerships and acquisitions, which is expected to propel growth of the market. For instance, in September 2022, Champion Auto Systems announced the acquisition of Webasto’s sunroof line. The company revealed that, the production of Hollandia 700 line of Webasto will continue in the United States after the acquisition.

Global Automotive Sunroof Market: Competitive Landscape   

Magna International Inc., Webasto Roof Systems Inc., Mitsuba Corporation, Inteva Products (Acquired by CIE Automotive), Johnan America Inc., Aisin Seiki Co. Ltd., ACS France SaS, Yachiyo Industry Co. Ltd., and Inafla Roof Systems.

Global Automotive Sunroof Market: Recent Developments

In May 2019, Inteva Products revealed that the company has achieved complete sale of its Roof Systems product line to CIE Automotive. This transaction entailed a US$ 755 million investment by CIE Automotive.

In March 2018, Yachiyo Industry Co. Ltd began its preparatory work for assigning dedicate market research as well as planning staff, as the company is focusing on stabilizing its business and active expansion of sales from automakers apart from its major customer Honda.

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