The global Automotive Sunroof Market was estimated at nearly USD 4.7 billion in 2014. The industry is expected to grow at a CAGR of almost 10% from 2016 to 2024 (forecast period). It can surpass USD 9 billion by 2024. Demand for premium cars could contribute to growth. Moreover, the use of smart glass in vehicles is anticipated to impel industrial growth in the coming years. Product adoption for the classy appearance of vehicles can positively impact the market. Furthermore, heightened concerns regarding safety & security have brought along with it the trend of laminated glazing.
Significantly rising population & vehicle owners have furthered the global Automotive Sunroof Market. The need for sunroof after-sales services has also added to the growth. The after-sales service trend is particularly observed in the upcoming nations of the Asia Pacific region. The trend of owning vehicles with sunroofs has contributed to the progress of the industry. Any type of vehicle, whether new or old, can be fitted with this type of roofing system.
However, a major disadvantage of sunroofs is the noise that they create inside cars. They create a noise even when kept closed. In addition to this, they add to the overall cost of the car because of their high maintenance costs. 40 pounds of extra roof weight can increase the overall load on the engine. This leads to greater gasoline usage & wear & tear of the car. Car roofing systems are susceptible to improper installation, leakage, electrical failure, poor calibration, and problems related to the changing structural integrity. These factors can go against the market and hamper the demand for automotive sunroofs.
On the other hand, alternate fuel vehicles market has encouraged car manufacturers to develop built-in solar cells to power vehicles. The product may witness significant demand due to technological development in the field of solar roofs. The market for solar roofs is driven by the demand for electric vehicles. Manufacturers are investing in technology to not only differentiate their products but also provide safety and comfort to their users.
The global Automotive Sunroof Market is segmented on the basis of products, applications, and regions. Products encompass glass and fabric. ‘Glass’ may continue dominating the global market in the coming years. This segment is further divided into pop-up, inbuilt, spoiler or tilt & slide, top mount, and panoramic. The inbuilt glass automotive sunroof industry held more than 40% of the market shares, in 2014. It can grow at a CAGR surpassing 7% during the forecast period. Surging aftermarket demand may boost this segment till 2024.
Consumers today expect greater comforts in their cars. Hence, there are buyers who prefer installing their economy class vehicles with luxurious features, such as sunroofs. It is anticipated that about half of all new cars sold, will possess altered roofing systems. These include full glass sliding, convertibles, and retractable hardtops.
Panoramic sunroof is also known as vista roof. The growing preference of consumers for bigger sunroofs may drive the panoramic sunroof segment. Vista roof is a full sized sunroof which covers the entire top of a vehicle. Ford has incorporated this type of roofing system in its vehicle models, such as Explorer, Flex, and Mustang. The roof features SPF 50 rating and is gaining popularity amongst consumers. Such a trend has prompted other manufacturers to incorporate other similar alternatives.
Fabric sunroofs comprise foldable and removable. Demand for fabric foldable has so far been the highest in Europe and North America. Manufacturers focus on technological improvements in order to gain a competitive edge over the market.
Sunroofs come with a set of advantages & disadvantages. A roofing system ventilates a vehicle and gives it a unique cruising experience. When closed, the roof allows car-occupants to view the sky and protects them from pollution, insects, and harsh climatic conditions. The resale value of cars with this type of roofing system is on the higher side as compared to those without. Customers loyal to a certain car brand, are willing to pay the premium price for sunroofs.
Applications include hatchback, sedan cars, premium cars, and others. The premium cars segment is gaining recognition in regions, such as India, Thailand, China, and South Korea. High demand for luxury cars is attributed to rapid industrialization and urbanization. This has lead to a rise in disposable incomes, thus escalating the demand for luxury vehicles in the region. This is further attracting original equipment manufacturers (OEMs) to the region.
Based on regions, the global Automotive Sunroof Market is fragmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa (MEA). Ongoing industry trends suggest that North America and Europe may contribute significantly to the global industrial shares. The Europe sunroof industry stood at nearly USD 1.7 billion in 2014. It can grow at a CAGR over 9.4% in the forthcoming years. High demand for luxurious vehicles in regions, like United Kingdom and Germany could fuel the regional market. The Asia Pacific industry is anticipated to grow at a CAGR exceeding 11% during the forecast period. The proliferation of automotive manufacturing hubs in countries, such as India, China, and Japan will propel demand in this region.
Prominent companies in the Automotive Sunroof Market are Webasto; Inalfa Roof Systems; Johnan America, Inc.; Mitsuba Corp; and Inteva Products. Players engage in partnerships, development of new products, and research & development. These are the key strategies among others that most companies adopt in order to establish their presence in the global market.
Webasto held more than 50% of the market shares in 2014. The company has created a lamination process that involves coating the insides of the safety glass with a PET (polyethylene terephthalate) film. This ensures that the glass is held in place in case it breaks. Companies are adapting to the changing material trends in order to meet global safety standards. These standards pertain to flammability, head impact, and side curtain airbag regulations. Collaborating with suppliers offering quality products, establishing worldwide presence, and taking into account consumer preferences are the factors that determine market success.
Research Support Specialist, USA