Power Sunroof Market Overview:
The global power sunroof market is ascending
continually. The market growth attributes to the development of new and
diversified technologies, creating exciting opportunities within the automotive
industry. Automotive production has been growing continually with the rising
economic growth, population, and vehicle owning capacity worldwide. The demand
for sunroof witnessed a spike over the past few years, garnering popularity,
especially among youngsters.
With the ever-increasing population and economic growth,
vehicles' demand is increasing, leading to an increase in automobile
production. These factors cumulatively escalate market demand. According to
Market Research Future (MRFR), the global power sunroof market is estimated to
upsurge at 11% CAGR over the forecast period (2022 – 2030). The growing
production of customized sunroof tracks is a major trend, creating substantial
market demand. Moreover, rapid industrialization and urbanization worldwide
escalate the demand for sunroofs.
Additionally, increasing consumer preference for
hybrid power, solar power, and alternative fuel vehicles, alongside the rising
fuel prices, influences the market growth. Also, rising developments of
sunroofs with built-in solar cells that can power the vehicles push the growth
of the market. Growing technological advances and increasing demand for luxury
cars foster market growth, bringing about customized parts designed as per the
customer requirements.
Significant developments in component materials
combined with increasing numbers of factory-installed sunroofs positively
impact the market demand. Moreover, growing car production increases the demand
for sunroofs among OEMs. Simultaneously, increasing research and development
initiatives by automotive manufacturers to shift to advantageous locations for
production and short-distance supply to reduce the overall costs substantiate
the market growth.
On the other hand, challenges associated with the
design and manufacturing glass sunroofs are the major factors projected to
impede market growth. Also, fluctuating prices and the demand-supply gap
related to the raw materials used manufacturing of solar panels hamper the
development of the market. Nevertheless, the rising focus of automakers
on innovation for their product, offering more efficiency in vehicles, would
increase the market size throughout the review period.
Global Power Sunroof Market - Segments
The report is segmented into four dynamics;
·
By Material : Glass and Fabric.
·
By Sunroof Type : Top-Mount, Panoramic, Solar, and others.
·
By Vehicles : Sedan/Hatchback, SUV, and others.
·
By Regions : North America, Europe, APAC, and Rest of the World.
Global Power Sunroof Market - Regional
Analysis
Europe dominates the global power sunroof market.
The largest market share attributes to the proliferation of electric and hybrid
vehicles. Besides, the presence of several notable players drives the power
sunroof market in the region. Moreover, rising fuel prices and new emission
standards regulated by the government foster the development of the regional
market.
Germany accounts for a significant share in the
regional market, followed by the U.K. and France, owing to its leading
automakers and smart technologies. The European power sunroof market is
projected to retain its dominance throughout the estimated period.
The Asia Pacific region stands second in the global
power sunroof market. The market growth is propelled by the rapid increase in
vehicle applications of power sunroofs and great demand and production of
automobiles. Additionally, the development of automotive manufacturing
industries in Japan and South Korea, alongside the continued strong support for
solar sunroofs, boosts the regional market growth. The APAC power sunroof
market is expected to be the fastest-growing region during the forecast period.
Global Power Sunroof Market -
Competitive Analysis
Highly competitive, the power sunroof market looks
fragmented with the presence of several well-established and notable players.
Matured market players incorporate strategic initiatives such as acquisition,
collaboration, expansion, and technology launch to gain a competitive
advantage.
In a scenario, especially where the fuel prices and
electric vehicle prices are exploding, power sunroof is a viable technology to
be rolled out on an industrial scale. Industry players strive to find new ways
to utilize their expertise in the automotive industry and explore new energy
opportunities.
Power Sunroof Market Major Players:
- Webasto
(U.S.)
- Inalfa
Roof Systems (Netherlands)
- Inteva
(U.S.)
- Magna
International (Canada)
- Aisin
Seiki (Japan)
- Nippon
Sheet Glass Co. Ltd (Japan)
- Automotive
Sunroof Company (Canada)
- Yachiyo
Industry Company Ltd (Japan)
- Preh
IMA Automation (PIA)
- Evansville
(U.S.)
- BOS
(Germany)
Industry/ Innovation/ Related News:
August 18th, 2020 ---- SunRoof (Sweden), a solar roof manufacturer, announced the acquisition
of a Swedish solar component company – Redlogger. Companies plan to launch a
tech platform that sells surplus energy generated by SunRoof solar panels,
starting with the Polish market. Redlogger develops hardware and
software to support renewable energy producers.
SunRoof aims to become the largest energy
marketplace in Europe. In this, Redlogger infrastructure would help the sunroof
develop a platform that can compete with Tesla's Autobidder. By joining forces,
companies can digitize the energy market and promote the use of renewable
energy sources.
Read
more insightful report:
Turbocharger Market Size 2024-2032 Demanding Report
Automotive
Garage Equipment Market Size 2024-2032 Demanding Report
Car Wash
System Market Size 2024-2032 Demanding Report
Electric Vehicle Connector Market Size 2024-2032
Demanding Report
Food Storage Container Market Size
2024-2032 Demanding Report
No comments:
Post a Comment