The automotive sunroof allows natural light and fresh air to enter the passenger compartment of a vehicle. Sunroofs add to the aesthetics of a vehicle and enhance the riding experience. These roofs are available in many designs including sliding sunroofs, panoramic sunroofs, and pop-up sunroofs. Luxury and premium vehicles usually offer sunroofs as standard or optional features to provide occupants with a feeling of open-air driving.
The global automotive sunroof market is estimated to be valued at US$ 11326.93 Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The automotive sunroof market is witnessing high growth owing to the rising demand for luxury and premium vehicles globally. Luxury car buyers often prefer vehicles with panoramic sunroofs to enhance the riding experience. Additionally, mid-size SUVs and sedans are also being offered with sunroofs as standard or optional features. This increasing adoption of sunroofs in mid-range vehicles is further fueling market growth. Furthermore, growing disposable income has boosted consumer spending on premium features in vehicles across major countries. Market players are leveraging this opportunity by launching new designs and models of panoramic and sliding sunroofs to attract consumers.
SWOT Analysis
Strength: The automotive sunroof market has strong growth potential due to increased consumer preference for open-air driving experiences. Three large luxury automakers dominate sunroof installations, allowing for economies of scale in manufacturing. Increasing digitalization of vehicle features is also enhancing sunroof functionality.
Weakness: Sunroofs increase vehicle weight and cost, impacting fuel efficiency. Complex multi-component designs also raise reliability concerns. The aftermarket for sunroof installations is much smaller than the original equipment market.
Opportunity: SUVs and crossovers are the fastest growing vehicle segments presenting opportunities to increase sunroof penetration rates. Advanced panel technologies are making sunroofs affordable for mid-size vehicles. The commercial vehicle sector is witnessing rising demand for sunroofs.
Threats: Strong competition exists from alternative open-air technologies like convertible tops. Environmental regulations pertaining to vehicle weight and emissions present design challenges. Trade barriers and fluctuations in glass and resin prices impact component costs.
Key Takeaways
The global automotive sunroof market is expected to witness high growth. The global automotive sunroof market is estimated to be valued at US$ 11326.93 Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030.
The Asia Pacific region currently dominates the market owing to high vehicle production in China, Japan, and India. China has emerged as the largest producer and consumer of automobiles globally. This is attributed to growing disposable incomes, rising standards of living, and increasing demand for luxury and premium vehicles. North America is another major region for the automotive sunroof market led by the US. Customers in the US have shown high preference for open-air driving resulting in over 50% of new vehicles sold being equipped with sunroofs. Overall economic growth and demand for SUVs and high-end vehicles are supporting market expansion.
Key players operating in the automotive sunroof market are Canon Inc., Zebra Technologies Corporation, Hewlett-Packard (HP) Inc., Epson America, Inc., and BIXOLON. These companies actively focus on new product development, strategic partnerships, and regional expansions to strengthen their market position. Innovation in designs, materials, and functionality are reshaping industry dynamics.
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