by The automotive sunroof allows natural light and fresh air to enter the vehicle interior, adding to the pleasure of driving. It enhances the appearance of the vehicle and provides an open feel even when the roof is closed. Made from glass or composite materials, modern sunroofs come with advanced controls for opening, closing, and tilting functions. They are available in popular vehicle models as standard or optional features depending on trim levels. The increasing demand for premium and luxury vehicles where comfort and convenience take precedence is a major factor propelling the growth of the global automotive sunroof market.
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 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends gaining traction in the automotive sunroof market is the growing popularity of panoramic sunroofs. Manufacturers are focusing on developing large glass panels that run from the front to the rear of the roof offering a more spacious feel to vehicle occupants. Panoramic sunroofs add considerably to the aesthetic appeal of premium vehicles. Another notable trend is the rising demand for powered sliding sunroofs especially in mid-sized to large SUVs and crossover vehicles. Technological advances have made sliding sunroofs affordable and are found as standard features even in some compact cars. This is expected to further propel the sales of powered sunroofs during the forecast period.
Porter’s Analysis
Threat of new entrants: The automotive sunroof market has moderate threat of new entrants due to high initial manufacturing costs of setting up production units and developing quality products.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes like car models without sunroof. However, growing popularity of sunroofs increases their bargaining power.
Bargaining power of suppliers: Few large suppliers catering to major automakers have high bargaining power due to specialized products and technologies required.
Threat of new substitutes: Substitutes like convertible cars provide substitute experience of open roof but at higher costs. Thus threat is moderate.
Competitive rivalry: The market has high competitive rivalry due to presence of major established players and differentiated products on technology, size, and design.
Key Takeaways
The global automotive sunroof market is expected to witness high growth. 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 6.9% over the forecast period 2023 to 2030.
Regional analysis:
North America region is projected to dominate the automotive sunroof market during the forecast period. This is attributed to factors such as growing demand for luxury vehicles integrated with advanced technologies and strong presence of global automotive giants in the region. Asia Pacific is expected to grow at the fastest CAGR during the analysis period owing to increasing vehicle production and sales across China and India.
Key players:
Key players operating in the automotive sunroof market are Canon Inc., Zebra Technologies Corporation, HP Inc., Epson America, Inc., BIXOLON. Canon Inc. specializes in digital imaging and optical products including cameras, camcorders and printers for consumers, offices and industry etc. Zebra Technologies Corporation designs and markets products, software and services that enable visible communications in the enterprises.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
