by Automotive sunroofs allow natural sunlight inside vehicles while providing ventilation. They enhance the interior ambience and offer panoramic views. The growing popularity of open-roof concept and rising disposable income have increased the demand for premium and luxury vehicles integrated with advanced features including sunroofs.
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 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for enhanced comfort in automobiles is a key trend propelling the automotive sunroof market. Manufacturers are focusing on developing innovative sunroof designs to offer enhanced passenger experience. For instance, panoramic sunroofs provide extra headroom and allow more natural light inside vehicles. Furthermore, new technologies such as powered sunshades, automatic sunroofs with one-touch open and close functions, and tilt-and-slide mechanisms have increased their adoption.
SWOT Analysis
Strength: The automotive sunroof market has growing demand from consumers who prefer open-air driving experiences. It enhances the aesthetic appeal of vehicles.
Weakness: High manufacturing costs associated with automotive sunroof systems make them unavailable in low-cost vehicle segments. Issues pertaining to water leaks and malfunctions can cause customer dissatisfaction.
Opportunity: Rising disposable incomes and growing preference for luxury vehicles in emerging economies present an opportunity to increase sales volumes. Technological advancements enable development of innovative sunroof designs.
Threats: Strict emission norms push automakers to focus on enhancing fuel efficiency instead of additional features. Economic slowdowns can reduce discretionary spending on vehicles with premium features like sunroofs.
Key Takeaways
The Global Automotive Sunroof Market Size is expected to witness high growth over the forecast period of 2023 to 2030.
Regional Analysis: Asia Pacific is currently the fastest growing as well as dominating regional market for automotive sunroofs. Rising vehicle production and sales in countries like China and India is a key factor driving the growth.
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. These players are focusing on developing innovative sunroof designs using advanced technologies to cater to changing consumer preferences.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
