by The global Automotive Sunroof Market is estimated to be valued at US$ 11326.93 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The automotive sunroof market includes glass or fabric sunroofs installed in passenger cars and commercial vehicles. Sunroofs provide an open air feeling to vehicle occupants while traveling. They help increase the interior space of vehicles and provide natural light inside. Some key types of sunroofs available are multi-panel sunroofs, single panel sunroofs, and panoramic sunroofs. Material used for manufacturing sunroofs includes glass, fabric, and polycarbonate.
Market key trends:
Growing demand for premium and luxury vehicles is a major trend in the automotive sunroof market. Consumers prefer luxury vehicles for comfort, style, and exclusive features like automotive sunroofs. This has encouraged leading automakers to offer panoramic sunroofs as standard features in luxury cars. Additionally, increasing adoption of multifunctional sunroofs is another key trend. Modern sunroofs allow tilting and sliding functions along with ventilation for enhanced convenience. Manufacturers are focused on developing lightweight and durable sunroof material to improve design aesthetics and fuel efficiency.
Porter’s Analysis
Threat of new entrants: The automotive sunroofs market requires high investment in machinery, technology, and branding. This makes it difficult for new companies to enter the market.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of various product options from different manufacturers. However, customization as per their needs and pricing influences their purchase decisions.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power as there are numerous material suppliers and component manufacturers for this market.
Threat of new substitutes: There exists low threat from substitutes as automotive sunroofs offer unique benefits like enhancing interior aesthetics, improving ventilation, etc.
Competitive rivalry: The market is highly competitive with major players differentiating based on product innovations, quality, and pricing.
Key Takeaways
The Global Automotive Sunroof Market Size is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing consumer preference for open-top driving experience along with rise in disposable income.
Regionally, the Asia Pacific automotive sunroof market dominates currently and is expected to continue its dominance during the forecast period as well. Rapid growth in vehicle production across China and India along with changing consumer patterns are fueling the regional market growth.
Key players operating in the automotive sunroof market are Magna International Inc., Webasto Roof Systems Inc., Mitsuba Corporation, Inteva Products, Johnan America Inc., Aisin Seiki Co. Ltd., ACS France SaS, Yachiyo Industry Co. Ltd., and Inafla Roof Systems. Major players are focusing on expanding their production capacities and capabilities through mergers, acquisitions, and partnerships to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
