Market Scope
Market Research Future (MRFR)expects the automotivesunroof market 2020 to record a decent growth rate of 8.96% between 2018and 2023 (assessment period). By 2023-end, the global market can reach USD12,447.0 million, confirms MRFR. We will provide COVID-19 impact analysis withthe report, offering detailed market developments following the coronavirusdisease outbreak.
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Top Boosters and KeyChallenges
The automotive sunroof market’sgrowth has been significantly affected by the COVID-19 outbreak, and thesituation has only worsened given the increasing spread of the pandemic. The well-establishedproduction and manufacturing units of leading companies in Wuhan, China,witnessed a sharp drop in the production level of sunroof products. Also, theconsequent worldwide lockdown post the widespread SARS-CoV-2 disrupted the globalsupply chains and the production capacity activities, which resulted in aweakened demand from a number of automotive customers as well as manufacturers.
Since the shutting down of amajority of the manufacturing units across the globe, the automotive as well asthe semiconductor industries have come to a halt, thereby slowing down thegrowth of the automotive sunroof market. However, despite the COVID-19 impact,the escalating demand for impact-resistant and lightweight sunroof can boost innovationsby the prominent manufacturers. Manufacturers including Inteva Products, InalfaRoof Systems Group B.V. and Webasto Group are spending considerably onextensive research and development of advanced sunroof technologies, which canhelp reverse the negative impact of the novel coronavirus.
The market for sport utilityvehicle/SUV has been observing substantial sales, thanks to their high affordabilityas well as low cost of ownership, which can also benefit the market, since mostof the SUVs have sunroofs. Further, manufacturers and leading brands arelaunching latest car models that have advanced sunroof to cater to theincreasing consumer demand worldwide.
For instance, in July 2020, Hondalaunched its latest car, WR-V in the Indian market. Honda WR-V is a sub-compactSUV that has a sunroof on the VX MT trim. The sunroof size is standard and canbe electrically used by just pressing a button.
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Segmental Review
The automotive sunroof market canbe considered with respect to type, application as well as sales channel.
The key types of automotivesunroof listed in the study are spoiler sunroof, inbuilt sunroof, pop-upsunroof, panoramic sunroof, and others. Between these, the market for inbuiltsunroof observed the best growth in 2017 and it is anticipated to witnessbetter growth in the coming years. The surge in technical innovations ininbuilt sunroofs, such as venting, press and hold operation, auto-retractsystem, auto-close system and soft touch operations has led to the growth inthe popularity of inbuilt sunroofs.
The applications of automotivesunroof are sedan, SUV, hatchback and more.
In terms of the sales channel,the market caters to original equipment manufacturers/OEMs and aftermarket.
Regional Insight
Automotive sunroof industry canbe geographically dissected into Europe, North America, APAC/AsiaPacificand RoW/therest of the world.
With a 33.40% share in the globalmarket, Europe is the current leader, followed by APAC and North America with respectiveshares of 28.36% and 28.26%.
In 2017, European market was ledby Germany, where the value accounted to USD 1,263 million. The automotivesunroof market in the region is expanding vigorously on account of skyrocketingsales of premium vehicles combined with the rising consumer inclination towardsluxury features. The sales of these vehicles are also favored by the strongfinancial conditions of the region, with people demanding luxury and comfortfeatures in almost every vehicle. The demand for the smart glass technologyintegrated with sunroof has shot up significantly in recent years, since theyhave more control on key aspects such as heat and light emissions, and alsohelp bring down the use of HVACunits for inner temperature maintenance in the vehicle.
Thanks to the mounting demand forwind deflectors in vehicles and the rising use of sunroofs in sedans,hatchbacks and SUVs, APAC has gained the second spot in the automotive sunroofsmarket. Many of the manufacturing firms in the region are spending massively onthe development activities to bring down the weight and boost the overall strengthto innovate the standard automotive sunroof.
Renowned Industry Vendors
The renowned industry vendorsoutlined in the MRFR study are Wuxi Ming Fang AutoMobile Parts Industry Co.,Ltd, Yachiyo Industry Co. Ltd, Zhejiang Wanchao Electric Co., Ltd., Aisin SeikiCo. Ltd, Webasto Group, Inteva Products, Inalfa Roof Systems Group B.V., Ltd,Magna International Inc., Wuhu Mosentek Automobile Technology Co., JohnanManufacturing Inc., to mention a few.
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About Market Research Future:
Market Research Future (MRFR) isa global market research firm that takes great pleasure in its services,providing a detailed and reliable study of diverse industries and consumersworldwide. MRFR's methodology integrates proprietary information with differentdata sources to provide the client with a comprehensive understanding of thecurrent key trends, upcoming events, and the steps to be taken based on thoseaspects.
Our rapidly expanding marketresearch company is assisted by a competent team of research analysts whoprovide useful analytics and data on technological and economic developments.Our deemed analysts make industrial visits and collect valuable informationfrom influential market players. Our main goal is to keep our clients informedof new opportunities and challenges in various markets. We offer step-by-stepassistance to our valued clients through strategic and consulting services toreach managerial and actionable decisions.
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