Automotive Sunroof Market to reach US$ 19 Bn by 2032
The global automotive sunroof market is expected to grow at a CAGR of 6.1% from 2018 to 2032. Key factors driving the growth of this market include the increasing demand for luxury and premium cars, rising disposable income of consumers, and growing awareness about sunroofs as a lifestyle product.
NEWARK, Del., May 23, 2022 /PRNewswire/ — During the projection period of 2022-2032, the global automotive sunroof market is estimated to expand at a value CAGR of 11%, reaching a valuation of more than US$ 19 Bn by 2032.
Increasing passenger car sales in conjunction with increased per capita income and consumer spending toward vehicle interiors and effective ventilation will drive the market. Also, the launch of new vehicle models with sunroofs as standard equipment will spur tremendous growth.
Pop-up, in-built, tile and slide, and top mount installed on the top of the vehicle roof are all examples of automotive solar sunroofs. Solar sunroofs are made of glass with photovoltaic solar cells embedded into them.
Furthermore, as demand for electric vehicles grows in both developed and emerging countries, the solar sunroof system is becoming more popular in the EV market. Panasonic, for example, designed a 180-watt roof for the Toyota Prius Prime in Japan to provide enough energy to travel 3–6 kilometers each day.
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Key Takeaways from Market Study
At a CAGR of 11.4%, the fastest-growing segment is the panoramic sunroof under sunroof type segment from 2022 to 2032.
Glass sunroofs are estimated to account for the highest share of more than 97% under the material segment in terms of value in 2022.
The electric-powered sunroof will dominate the market creating an incremental opportunity of nearly US$ 12 Bn by 2032.
By vehicle type, the passenger cars segment is projected to be the segment leader with a market share of more than 80% in 2022.
By sales channel, OEM is set to account for more than 95% of the global market
By 2032, East Asia is estimated to have the largest share of the global market, accounting for more than 48%.
“Growing need for safety, comfort, and aesthetic elements has resulted in a several technological developments in automobiles. This has improved the installation of sunroofs that allow for greater air circulation.” says a Future Market Insights analyst.
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Automakers and suppliers are working together to improve the safety features of various automotive systems. For example, Hyundai Mobis launched the world’s first panorama sunroof airbag system, which can prevent passengers from being propelled out of the vehicle through the roof in the event of an accident or rollover.
Rain sensors have also been integrated into these systems by automakers. As a result, when it starts raining, auto sunroofs can be closed automatically. Over the forecast period, such advancements are expected to boost the market growth.
Some of the key automotive sunroof manufacturers included in the report are –
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The research report analyses the market demand trend for automotive sunroof. The global market is based on COVID-19 impact, macroeconomic factors, market trends & market background. As per Future Market Insights’ research scope, the automotive sunroof market report is studied and analyzed in the following segments such as by sunroof type, operation type, material type, vehicle type, sales channel and regions. The automotive sunroof market report gives us qualitative and quantitative information about the companies.
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Key Segments Covered in Automotive Sunroof Industry Analysis
Light Commercial Vehicle
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
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About FMI – Automotive and Transportation
The Automotive and Transportation division of FMI provides exclusive coverage and actionable insights about automotive and transportation industry encompassing automotive, aviation, shipping and marine, and railway sector. Market findings and competition intelligence of OEM, aftermarket, services and technology landscape have helped numerous industry stakeholders’ right from automakers, component manufacturers, channel partners and service providers in taking informed decisions and keeping them up-to-date with market behavior.
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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