According to a recent report published by Allied Market Research, titled, Automotive Sunroof Market by Material Type, Vehicle Type, and Region: Global Opportunity Analysis and Industry Forecast, 2018-2025, the global automotive sunroof market was valued at $6,384.4 million in 2017, and is projected to reach $13,553.9 million by 2025, registering a CAGR of 9.7% from 2018 to 2025.
At present, Europe dominates the market, followed by Asia-Pacific. In 2017, Germany dominated the Europe market, while in the Asia-Pacific, China currently dominates the market.
The global automotive sunroof market is driven by innovation in glass technology and rise in demand for safety, comfort, & convenience features. Furthermore, rise in demand for premium cars and improvement in aesthetic value of glass surface area in automobiles including larger sunroofs propel the growth for the automotive sunroof market. In addition, increasing consumer preference toward automotive sunroof vehicles in developing nations further boosts the demand for automotive sunroofs in the global market.
High integration & maintenance cost, low penetration of sunroof in low segment vehicles, and incidents of shattering & crushing of sunroofs are some of the major restraining factors of this market. Moreover, increasing penetration of solar sunroofs in electric vehicles across the globe and surging sales of automotive vehicles ensure emerging growth opportunities for this market worldwide. These features offer lucrative opportunities for the automotive sunroof market.
Key Findings of the Automotive Sunroof Market:
- Based on material type, the glass segment dominated the global automotive sunroof market in 2017.
- As per vehicle type, the gasoline powered vehicle segment dominated the global automotive sunroof market in 2017. However, the electric powered vehicle segment is expected to grow at the highest CAGR during the forecast period (20182025).
- Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.