According to a recent report published by Allied Market Research, titled, “Automotive Panoramic Sunroof Market by Material Type and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2019-2026,” the global automotive panoramic sunroof market size was valued at $1.31 billion in 2018, and is projected to reach $4.26 billion by 2026, registering a CAGR of 15.7% from 2019 to 2026.
Europe dominates the market, followed by Asia-Pacific, North America, and LAMEA. Germany dominated the Europe automotive panoramic sunroof market share in 2018, whereas France is expected to grow at a significant rate in the Europe during the forecast period.
Automotive panoramic sunroof market provides extra light and air into the vehicle, refreshes and lighten ups the complete cabin with sunlight, and provides wider view of the sky without opening the window. These types of sunroof cover the complete roof of the vehicle, offering a wide-angle view for both the passengers in the front and rear seats. In addition, it provides emergency exit in case of accident or emergency situations. Further, the noise that enter the cabin through an open window, can be reduced significantly by opening a panoramic sunroof instead.
In the recent years, consumers have shifted their interest to automotive vehicles as these vehicles facilitate the luxury features such as sunroof, advance driving assistance system (ADAS), and others, which are technologically advanced as against traditional vehicles. For example, South Korean company Hyundai offers large full-length dual panel panoramic glass sunroof features to its upcoming hatchback model i30. This sunroof facilitates user with a power tilt & slide front panel along with luxurious look. The availability of advanced features at an affordable price is expected to create numerous opportunities for the players operating in the automotive panoramic sunroof market.
Panoramic sunroofs can be installed in various vehicle types such as hatchback, sedan, sport utility vehicle (SUV), battery electric vehicle (BEV), hybrid electric vehicle (HEV), and plug in hybrid vehicle (PHEV). Top end models of Mercedes-Benzes A class, BMW 1 series, and Mini Cooper provide automatic sunroof. Moreover, automotive giant Hyundai offers large full-length dual panel panoramic glass sunroof features to its upcoming hatchback model i30. This sunroof facilitates user with a power tilt & slide front panel, which delivers a luxurious look. In addition, the sedan models with the sunroof offer additional benefits as compared to hatchback. The affordable models in sedan class such as Honda city, Chevrolet Cruze, and Skoda Octavia are electrically operated with anti-pinch and protective mesh guard features. Furthermore, Audi A3 features panoramic glass sunroof with integrated wind deflector to reduce wind noise when the roof is opened. In addition, many leading automobile manufacturers offer panoramic sunroof in wide range of premium vehicles. For instance, Ford Endeavor, especially in premium vehicles, offers an electric panoramic sunroof in 2.2 4X2 Titanium AT variant.
The automobile manufacturers and governments in various countries are taking initiatives and focusing toward the development of automotive panoramic sunroofs. In February 2018, the U.S.-based automakers has taken initiative to make sunroofs safer with the help of laminated safety glass. Furthermore, the National Highway Traffic Safety Administration (NHTSA) is putting efforts for regulations governing sunroofs. The Webasto's automaker company invested around USD $2.86 (EUR2.5) million for expansion of Mexican plant in Puebla. This plant includes development, production, and sales of sunroofs, panoramic roofs, convertible roofs, and parking heaters, which in turn propel the growth of the Mexico automotive panoramic sunroof market. Further, the automotive industry giants are launching new range of automobiles with added features and panoramic sunroof due to rise in demand for luxury vehicles. For instance, Mercedes-Benz, a luxury vehicle manufacturer launched new Mercedes-Benz GLE Coupe 4Matic in the UK with panoramic sunroof system.
The factors such as rise in innovation in glass technology and increase in demand for safety, comfort, and convenience features drive the growth of the automotive panoramic sunroof market. However, high integration & maintenance cost and low penetration of power sunroof in low segment vehicles hinder the growth of the market. Further, rise in penetration of solar sunroof in electric vehicles and increase in sale of automotive vehicles are anticipated to provide lucrative growth opportunity for the key players operating in the automotive panoramic sunroof market.
Key Finding of The Automotive Panoramic Sunroof Market:
- Based on material type, the fiber segment is anticipated to grow at a lucrative growth rate.
- Based on vehicle type, the sedan segment was the highest revenue contributor in 2018.
- Based on region, Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.
- Based on region, Europe contributed the highest automotive panoramic sunroof market revenue in 2018, followed by Asia-Pacific, North America, and LAMEA.
The automotive panoramic sunroof Market key players analyzed in this report include Aisin Seiki Co. Ltd., CIE Automotive SA, Donghee Industrial Co. Ltd., Inalfa Roof Systems Group BV, Webasto SE, Yachiyo Industry Co. Ltd., Inteva Products, Automotive Sunroof-Customcraft (ASC) Inc., BOS Group, Magna International Inc., and others.