Global Market Insights, Inc. newly added the Automotive Sunroof Market Report that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, and forecast in the coming years.
European automotive sunroof market was assessed to be around USD 2 billion in 2014 and will grow at about 10% CAGR from 2015 to 2022 due to the presence of many luxury car manufacturers in this region. Germany and the UK are expected to contribute immensely to regional growth.
Asia Pacific is expected to be the fastest growing due to changing consumer preferences for these products to enhance the overall aesthetic appeal of the car.
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Glass sunroofs are expected to continue its dominance over the projected timeframe. High quality products and passenger safety such as tough glaze with ceramic coating are some of the trends followed by OEMs. Inbuilt glass segment also called as moonroofs accounted for more than 40% of the global share in 2014. Growing aftermarket demand in the automobile sector will boost the automotive sunroof market growth.
Installation of these systems may cause holes and drains resulting in potential leakage of water or snow into the car thus requiring high maintenance expenses. Electrical failures, poor calibrations, improper installations and continuous maintenance requirement coupled with high cost of these systems may hamper the automotive sunroof market growth. Rising design concerns due to increased weight on top changes the gravity centre thus requiring compliance with strict safety regulations regarding roof crash.
Automotive Sunroof Market for Panoramic segment will witness significant growth from 2015 to 2022 at 15% CAGR due to consumer preference for automobiles installed with large sunroofs. Foldable models under the fabric segment are expected to grow at a steady pace.
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OEMs are focusing on aesthetic appeal and luxury interiors to offer enhanced driving experience to their customers. This will lead to a high demand for vehicles with larger factory installed sunroof and fuel the industry demand. Manufacturers are providing inbuilt or optional systems for their premium and mid ranged vehicles. For instance, Flex explorer and Mustang models by Ford are incorporated with these systems. Opportunities are available in the form of solar roofs for electric and hybrid vehicles.
Automotive sunroof market will cross USD 10 billion by 2022 at 10% CAGR. Increasing utilization of smart glass in automotive applications along with rising vehicle production is expected to fuel the industry growth.
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Players in the automotive sunroof market are Aisin Seiki, Inalfa Roof Systems Groups, Inteva Products, Valmet Automotive, Johnan America, Mitsuba Corporation, Webasto, etc. Webasto accounted for over 50% of the industry share and aims at expansion along with investment in R&D and new product developments. Tinted or UV reflected glass with reduction in loud noises and addressed leakage issues are some of the emerging innovations in this sector.