May 18, 2024
Automotive Sunroof Market

Automotive Sunroof Market Driven by Rising Demand for Luxury Features in Vehicles

The automotive sunroof provides ventilation to the vehicle cabin by allowing fresh air and sunlight to enter. It enhances the overall driving experience by offering a panoramic view of the surroundings. Sunroofs come in several types including pop-up, sliding and panoramic. Pop-up sunroofs have small openings at the front, while sliding and panoramic sunroofs have larger openings. They deliver better air circulation and prevent glare inside the vehicle by tilting up or down or sliding back. The demand for automotive sunroofs is driven by rising consumer preference for luxury features in vehicles along with the growing need for comfort during travel.

The global Automotive sunroof market is estimated to be valued at US$ 13048.63 Bn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Key Trends:

Rising sales of luxury and premium vehicles along with increasing disposable incomes have propelled the demand for automotive sunroofs globally. Manufacturers are focused on enhancing functionality by incorporating electric motors to open and close sunroofs easily. Additionally, panoramic sunroofs are gaining popularity as they provide an uninterrupted view with a sliding glass panel stretching from the front to the rear seats. Growing consumer inclination towards open-air driving experiences is also spurring the adoption of panoramic sunroofs. However, high installation and maintenance costs remain a key challenge for widespread adoption of advanced sunroof technologies.

Porter’s Analysis
Threat of new entrants: The automotive sunroof market requires huge investments in R&D and manufacturing facilities, limiting the threat of new entrants.

Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of variety of sunroof options from major OEMs.

Bargaining power of suppliers: The presence of numerous component suppliers limits their bargaining power.

Threat of new substitutes: There are no close substitutes for sunroofs currently.

Competitive rivalry: The market is dominated by few major players intensifying competition.

Key Takeaways
The Global Automotive Sunroof Market Size is expected to witness high growth.

Regional analysis: The Asia Pacific region dominates the market currently owing to high vehicle production in China and India. Europe and North America are also major markets driven by high demand for luxurious vehicles integrated with sunroofs.

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.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it