Europe automotive sunroof market to garner hefty returns by 2025, panoramic products to experience augmented demand
Sellbyville, DE -- (SBWIRE) -- 06/17/2019 -- The qualitative research study introduced by Global Market Insights, Inc. on automotive sunroof market Report provides primary Data, surveys, Scope of the Product and vendor briefings. The market dynamic forces have been determined after conducting a detailed study of the industry
Propelled by growing luxury automobile sales in emerging economies like India and augment demand for EVs worldwide, the automotive sunroof industry is projected to accrue substantial gains over the forecast timeframe. Reports estimate that the global automotive sunroof market will exceed a valuation of US$40 billion by 2025.
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The global automotive sunroof market has gained significant momentum lately, a feat that can be attributed to the rising demand for passenger vehicles. Undeniably, this has been the result of an increase in consumer purchasing power, improved economic conditions and lower bank interest rates. Luxury cars is one of the many segments of the automotive domain that has experienced considerable demand over the last few years. A massive push from factors like growing prosperity along with shifting consumer habits will enable the luxury carmakers to tap more opportunities through a wider range of geographies, consequently impelling automotive sunroof industry size.
Technology advancements including the incorporation of sensors and components for felicitating automatic sunroof operation are positively influencing the automotive sunroof market share. Additionally, automobile OEMs are integrating advanced components, that operates the sunroofs automatically, upon the detection of rain.
The rising sales of electric vehicles are enabling automobile OEMs to incorporate solar panels and recharging capabilities in sunroofs for improving vehicle driving range and reduce charging time significantly. Additionally, the advanced protection from UV rays and appropriate glass tinting further accentuates the automotive sunroof market over the projected timeframe.
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Automotive sunroof market from glass sunroof will register significant growth over the study timeframe. This can be attributed to the availability of a wide range of glass sunroofs at varied price range. Additionally, the availability of laminated and tempered glass with superior UV protection along with its ability to maintain an optimum car interior temperature further expands the segment share.
Panoramic sunroofs will account for a significant volume share over the forecast timeframe. This can be attributed to the increasing adoption of such sunroofs in premium and high-end models. The larger sunroof size, along with providing a premium experience in vehicles are further expanding the automotive sunroof market. Automobile OEMs are launching new models with panoramic sunroofs for increasing their market share. For instance, in April 2019, MG Motors unveiled its Hector SUV with the largest panoramic sunroof in its segment.
Manual sunroof will exhibit considerable growth over the projected timeframe. This growth can be attributed to the lower cost associated with the acquisition and fitting of such roofs. Additionally, the absence of any motors or electric components along with simpler operations and lower maintenance requirements further enhances the automotive sunroof market share.
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Asia Pacific will account for a significant volume share owing to the presence of major automobile OEMs along with sunroof manufacturers across the region. The availability of multiple vehicles at varied price range offering premium and luxurious features are boosting the business growth.
Industry players are continuously investing in R&D for developing advanced safety features for sunroofs for expanding their business share. For instance, in 2017, Hyundai Mobis unveiled its panoramic sunroof airbag system, that offers improved protection to the passengers and driver in the event of a crash, thereby boosting the automotive sunroof market.
Few of the prominent players in the automotive sunroof market include Webasto SE, Inalfa Roof Systems B.V., Valmet Automotive, Aisin Seiki Co., Ltd., CIE Automotive, and Magna International, Inc. Industry players are engaged in expanding their production facilities for catering to the rising consumer demand and improve their market share.
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