ALBANY, N.Y., April 11, 2022 (GLOBE NEWSWIRE) -- A study by Transparency Market Research (TMR) notes that the global automotive sunroof market is estimated to register growth at a CAGR of 9.60% during the forecast period from 2021 to 2031.
Companies operating in the automobile sector are using advanced technologies and making data-driven decisions in order to expand their businesses in newer regions. Moreover, they are using these technologies for improving their production techniques as well. Furthermore, many automaker are utilizing superior quality and durable materials as automobile components in order to develop highly appealing vehicles. Such efforts are likely to boost the demand for different types of vehicles globally. This, in turn, is expected to play key role in the development of the automotive sunroof market during the forecast period, notes a study by TMR.
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Automotive Sunroof Market: Key Findings
- In the recent years, vehicles with sunroofs are gaining popularity among younger population from across the globe. This factor is resulting into prominent sales prospects in the global automotive sunroof market. Due to improving disposable incomes and decline in bank financing costs, there has been a surge in inclination among global population toward buying premium vehicles and SUVs. This factor is expected to favor the growth of the global automotive sunroof market in the upcoming years. Hence, the market for automotive sunroof is prognosticated to gain a valuation of US$ 18.36 Bn by 2031.
- Consumers today are inclining toward comfortable driving experience. Moreover, several people across the globe are increasing interest in buying vehicles with attractive appearance. These factor are creating sizable business prospects in the global automotive sunroof market. Moreover, the market is being driven by increase in the number of people traveling globally, according to analysts at TMR.
Automotive Sunroof Market: Growth Boosters
- Rise in inclination among the Generation Z and millennial population toward buying SUVs and premium vehicles is propelling the automotive sunroof market
- Surge in demand for passenger vehicles across the globe is favoring the expansion of the market for automotive sunroof
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Automotive Sunroof Market: Regional Analysis
- The automotive sunroof market in Europe is estimated to maintain the leading position in the upcoming years due to the existence of a sturdy automotive industry in many nations such as France, the U.K., and Germany. Moreover, surge in the manufacturing of premium vehicles and SUVs is driving the demand for automotive sunroofs in Germany, state TMR analysts.
- The Asia Pacific automotive sunroof market is foreseen to expand at considerable pace during the forecast period due to factors such as rise in use of passenger vehicles, disposable income of major regional populace, and demand for sunroof among the Generation Z population of this region
Automotive Sunroof Market: Competition Landscape
- Players operating in the global automotive sunroof market are concentrating on the development of superior quality products. Hence, they are using next-gen technologies for the creating highly efficient automotive sunroofs.
- Several enterprises in the market for automotive sunroof are using different strategies such as mergers & acquisitions in order to expand their businesses in newer regions
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Automotive Sunroof Market: Key Players
Some of the key players profiled in the report are:
- Inalfa Roof Systems Group B.V.
- Aisin Seiki Co. Ltd.
- Yachiyo Industry Co.
- Inteva Products, LLC
- Valmet Automotive
- Webasto SE.
- CIE Automotive
- Magna International, Inc.
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Automotive Sunroof Market Segmentation
Product Type
- In-built Glass
- Panoramic Glass
- Tilt and Slide Glass
- Top-mount Glass
- Pop-up Glass
- Solar Glass
- Foldable Fiber
- Removable Fiber
Material
- Glass Sunroof
- Fiber Sunroof
Vehicle Type
- Passenger Vehicle
- Hatchback
- Sedan
- Utility Vehicle
- Light Duty Vehicle
- Medium & Heavy Duty Trucks
- Bus & Coaches
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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