Global Automotive Roof Systems Market was valued US$ 25.02 Bn in 2019 and is expected to reach US$ 37.02 Bn by 2027, at a CAGR of more than 5.02 % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Growing automotive industry coupled with increasing demand for premium cars is expected to boost the demand for automotive roof systems in the next few years. Automotive roof system facilitates flow of fresh air and sunlight in the car without disturbing the flow of the vehicle. Revenue produced from the sales of automotive roof systems, globally is expected to rise at a moderate CAGR over the forecast period.
The vehicles that are equipped with retractable rooftops generate added revenue for the global automotive roof systems market because their complex design makes them expensive. The production cost is also high, which has reduced the profit margin. Year-over-year the automotive retractable rooftop market is becoming more popular with automakers improving their product portfolio of vehicles with retractable rooftops. The roof designs have become more dynamic and flexible, which gives a better visual demand to an automobile. There are some driving factors that have led to the market penetration of retractable rooftops like declining cost of production with advancements in technology and increasing reliability.
Additionally, Rise in demand for high-end luxury vehicles across the globe, because of increased demand for more comfortable and visually pleasing vehicles, is expected to drive the convertible roof system segment of the market. Presently, advancements in material technology and increasing consumers expect an increasingly high level of comfort in their cars, which is likely to boost the market for convertible vehicles in the region.
Webasto manufactures all types of convertible roof systems such as hardtops, soft tops, and retractable hardtops. The company has been working on technologies to meet an original equipment manufacturer requirements. It also produces tops and components like roof blinds that are made of polycarbonate, which is greatly impact resistant and helps the company to maintain its leading position in the automotive convertible roof system market. A soft top is a vehicle with a soft roof that can sometimes be folded down or removed. Soft top is commonly used rooftop type in the automotive convertible roof systems market.
According to the report, the global automotive roof system market is likely to be driven by a range of macroeconomic and industry-specific factors. Asia Pacific is expected to be at the front position of global demand, with the market in the region growing at a CAGR of more than 5% between 2018 and 2026.
Furthermore, the report states that one challenge in the market is high cost of automotive electronic devices. The sales of automotive sunroofs and retractable roofs are increasing, but there is a challenge faced by the original equipment manufacturer because of the addition of more electronic content in the devices. Automotive electronic devices rise the ease of operating a vehicle and offer comfort and safety.
Geographically, Global automotive roof system market is anticipated to be driven by growth in mid and premium range cars in Asia-Pacific, North America and European regions. In the near future, there is slow but increasing demand for convertible automobiles in European countries. The government policies regarding limiting the hazardous emissions are forcing key players to manufacture light weight vehicles. This in turn is expected to fuel the global automotive roof system market. Changing lifestyle of people coupled with rising disposable income and demand for premium cars is anticipated to boost the global automotive roof system market. Growing market for MUV and SUV is also expected to fuel the global automotive roof system market. A significant amount of growth is expected in the aftermarket segment of global automotive roof top system market. High cost is expected to be one of the restraining factor for the growth of global automotive roof systems market.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Automotive Roof Systems Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Global Automotive Roof Systems Market.
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Scope of Global Automotive Roof Systems Market
Global Automotive Roof Systems Market, By Type
• Sunroof system
• Panorama roof system
• Multi-optional roof system
• Roof system with solar technology
• Light weight roof system
• Inbuilt Roof System
• Others
Global Automotive Roof Systems Market, By Sales channel
• OEM
• After-market
• Others
Global Automotive Roof Systems Market, By Vehicle type
• Passenger cars
o Sedan cars
o Compact
o Executive
o SUV/MUV
o Luxury
o Sports
o Premium
o Hatchbacks
• Light commercial vehicles
• Others
Global Automotive Roof Systems Market, By Top Roof Type
• Hard-top roof system
• Soft-top roof system
o Retractable roof systems
o Non-retractable roof systems
• Others
Global Automotive Roof Systems Market, By Material
• Aluminum
• Steel
• Polycarbonate
• Others
Global Automotive Roof Systems Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global Automotive Roof Systems Market
• Webasto Group
• Magna International Inc.
• Valmet Automotive Inc.
• Inteva Products, LLC
• Covestro AG
• Inalfa Roof Systems Group B.V
• AAS Automotive s.r.o.
• AISIN SEIKI Co. Ltd.
• ALUPROF Aluminiumprofile GmbH.
• BOS Group
• CIE Automotive
• GAHH LLC
• JAC Products.
• THE HAARTZ CORPORATION
• Yachiyo
• Mobitech
• Wanchao
• Wuxi Mingfang
• Johnan Manufacturing
• Motiontec
• Shenghua Wave
• Donghee
• Jincheng
• DeFuLai
• Heliatek
• ENCZ
• Meritor
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