OEMs will account for the majority revenue share in the automotive sunroof market. This can be credited to the increasing focus of automobile manufacturers to introduce and upgrade existing vehicles with sunroofs. Additionally, increasing trends of incorporating high end aspirational features in mid and lower segment automobiles further strengthens the revenue generation over the study timeframe.
Increasing vehicle sales along with rising preference of consumers to opt for vehicles with enhanced aesthetics and technologically advanced features are driving the automotive sunroof market. Improvements in glass technologies along with the increasing adoption of scratch resistant and toughened unbreakable glass are gaining prominence in the industry.
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The rising sales of electric vehicles are enabling automobile OEMs to incorporate solar panels and recharging capabilities in sunroofs for improving vehicle driving range and reduce charging time significantly. Additionally, the advanced protection from UV rays and appropriate glass tinting further accentuates the automotive sunroof market over the projected timeframe.
Automotive sunroof market from glass sunroof will register significant growth over the study timeframe. This can be attributed to the availability of a wide range of glass sunroofs at varied price range. Additionally, the availability of laminated and tempered glass with superior UV protection along with its ability to maintain an optimum car interior temperature further expands the segment share.
Panoramic sunroofs will account for a significant volume share over the forecast timeframe. This can be attributed to the increasing adoption of such sunroofs in premium and high-end models. The larger sunroof size, along with providing a premium experience in vehicles are further expanding the automotive sunroof market. Automobile OEMs are launching new models with panoramic sunroofs for increasing their market share. For instance, in April 2019, MG Motors unveiled its Hector SUV with the largest panoramic sunroof in its segment.
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Manual sunroof will exhibit considerable growth over the projected timeframe. This growth can be attributed to the lower cost associated with the acquisition and fitting of such roofs. Additionally, the absence of any motors or electric components along with simpler operations and lower maintenance requirements further enhances the automotive sunroof market share.
Asia Pacific will account for a significant volume share owing to the presence of major automobile OEMs along with sunroof manufacturers across the region. The availability of multiple vehicles at varied price range offering premium and luxurious features are boosting the business growth. Moreover, industry participants including Volkswagen, Audi, BMW, Mini, and Skoda among others are continuously upgrading their vehicle portfolio for incorporating sunroofs in their vehicles, thereby supporting the automotive sunroof market share over the projected timeframe.
Few players operating in the automotive sunroof market include Webasto, Inteva, Inalfa Roof System, and Valmet Automotive. Industry players are focusing on expanding their production capabilities for catering to the increasing demand. For instance, in 2017, Webasto inaugurated its Baoding plant in China. This strategy enabled the company to increase its production output and cater to the increasing demand for panoramic sunroofs in China.
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