Automotive sunroof market is estimated to be valued at US$ 8.52 Billion in 2024, exhibiting a CAGR of 10.2% over the forecast period 2024-2031. Growing popularity of sunroofs as a luxury feature in entry-level vehicles and increasing vehicle production globally are expected to drive the market growth. Furthermore, advancements in glass technology enabling lightweight and durable sunroofs also drives the market growth.
Market Dynamics:
Global automotive sunroof market is anticipated to witness significant growth over the forecast period due to rising passenger vehicle production globally and growing demand for luxury features even in entry-level vehicles. Asia Pacific accounts for the majority of passenger vehicles produced annually with China being the major markets. This high production volume creates substantial demand for automobile components including sunroofs. Comfort and features such as sunroof that were previously exclusive to premium vehicles are now becoming increasingly common in mass-market models. This is expected to boost adoption of automotive sunroofs especially in developing markets. Advancements in glass technology enabling lighter yet durable sunroof panels also allow their integration in small and affordable cars, thus, driving the market growth.
Market Driver: Increasing Consumer Demand for Automotive Comfort and Luxury Features
One of the key drivers for the automotive sunroof market is increasing demand from consumers for added comfort and luxury features in their vehicles. As disposable incomes rise globally, car buyers are looking to upgrade from basic models and are willing to pay premium prices for vehicles that offer amenities like sunroofs. This allows car makers to charge higher prices for versions of vehicles equipped with sunroofs. The growing middle class populations in developing markets like India and China are boosting demand.
Market Driver: Changing Consumer Preferences Towards Open-Top Driving Experiences
Another major market driver is the evolution in consumer car buying preferences, with many people preferring open-top driving experiences. Sunroofs provide at least a partial open-air feel even when the roof is closed, which is appealing to younger buyers. With more countries seeing a rise in average temperatures due to climate change, having the ventilation and air flow from a sunroof is also becoming an important decision factor for consumers. Car makers have recognized this shift and are aggressively marketing the joy of sunroof equipped drive experiences.
Market Restraint: Higher Production Costs
One key challenge faced by automotive sunroof manufacturers is the increased costs associated with designing, engineering and integrating sunroof systems into vehicle body architectures. Compared to traditional roof designs, sunroofs require more complex mechanical and electronic components that add to materials expenses. This also increases assembly line complexities and labor costs for original equipment manufacturers. All these factors often impact profit margins.
Market Restraint: Additional Weight Impacts Fuel Efficiency
Another major market restraint is the weight added by sunroofs to overall vehicle kerb weight. Even the lightest glass sunroof panels are heavier than conventional metal roofs. This additional kilograms have negative consequences like reducing fuel economy and performance, Some buyers don't like these trade-offs, and it also messes up how vehicles are grouped by weight. OEMs have to work on developing highly durable yet ultra-lightweight sunroof materials to address this issue.
Market Opportunity: Growth of Luxury and Premium Vehicle Segments
The automotive luxury and premium car segments have been experiencing strong sales growth globally in recent years. These high-end vehicles traditionally feature panoramic or multi-pane sunroofs as standard equipment. Rising affluence in developing markets is expanding the target consumer base for luxury automobiles, creating a lucrative opportunity for sunroof suppliers to these premium brands.
Market Opportunity: Increasing Adoption Rates in SUVs and Crossovers
Another major market opportunity The growth lies in the booming worldwide popularity of SUVs and crossover vehicles. These types of vehicles are ideally suited for integrated panoramic or dual pane sunroofs due to their higher body designs. More automakers are now offering glass roof panels as standard or optional on SUVs/crossovers to further boost their appeal. This growing SUV trend will sustain the future demand for automotive sunroofs.
*Link: https://www.coherentmarketinsights.com/market-insight/automotive-sunroof-market-5339
Key Developments:
- In October 2022, Magna is a company that makes car parts.announced that it had spend more than US$ 120 million to make a new engineering center in Bengaluru, India. It is for helping with e-mobility. The center was named Magna Innovation Campus Bengaluru.
- In July 2022, Inteva Products is a company that makes parts for cars. announced that it had opened another engineering center in Mexico. The company want to help car makers better and support their factories in the area. Inteva already has some factories and engineering centers in Mexico.
- In June 2021, Webasto is a company that makes stuff for vehicles, like car roofs and heaters. announced that it had developed fancy sunroofs for the new Mercedes-Benz S-Class. These sunroofs make the car's interior nice and bright. There are two parts, so the driver and the backseat passenger can control their own settings.
Key Players:
Inalfa Roof Systems Group B.V, Inteva Products, Wuxi Ming Fang AutoMobile Parts, Webasto Group, Wuhu Mosentek Automobile Technology, Magna International Inc, Aisin Seiki, Yachiyo Industry Co. Ltd, Zhejiang Wanchao Electric Co. Ltd, Johnan Manufacturing Inc., Yachiyo Industry, Yutani Gaunjia (Mobitech), CIE Automotive, BOS GMBH & CO. KG, Signature Automotive Product