The global automotive sunroof market is predicted to reach $14.19 Billion by 2030, growing at a CAGR of 9.2% during 2021–2030.
The growth is ascribed to the rise in vehicle production and increase in the pace of the technological developments in such components. Furthermore, the increasing passenger car sales and consumer spending on better ventilation and brighter vehicle interiors are likely to boost the demand for such features over the next few years.
Technologically advanced sunroof materials offer increased safety, aesthetics, and performance and a lower failure rate, which is expected to stimulate the demand for them in the years to come. When certain kinds of heavy glass are fit in a car's sunroof system, the center of gravity shifts, compromising the stability and structural integrity of the vehicle. Thus, the design of these components is being improved and newer materials being created to decrease weight and provide stability.
Luxury cars are high-end, technologically advanced automobiles with high-quality interiors, improved performance, and numerous safety features. They also provide greater comfort than economy and mid-segment vehicles. Leather seats, digital maps, parking cameras, air suspensions, and highly efficient engines are common features.
In recent years, sunroofs were only available in luxury vehicles. They were quite popular due to their capacity to maintain optimal levels of sunlight and offer improved vision within the car, thereby improving the driving experience. This inspired automakers to include them in the lower-segment vehicles as well.
The growing customer preference for automobiles that provide better aesthetics, safety, and comfort has resulted in the increasing popularity of mid-segment vehicles. Keeping the windows open, for example, is inconvenient, since the noise of the rushing wind makes it impossible to talk with fellow passengers. The sunroof is a suitable option in such cases since it eliminates the noise issue, while keeping the car properly ventilated with fresh air.
Furthermore, OEMs are attempting to improve the safety issues with automobiles. It has also been possible to include rain sensors into these systems, to enable automatic closing as soon as it begins to rain. As a result, technological advances are likely to boost the market expansion throughout the forecast period.
The industry growth in North America is attributed to the increase in the demand for improved aesthetics and enhanced travel experience, coupled with the rise in the disposable income.
Moreover, the integration of motors, for electrical actuation, and raw materials has resulted in a considerable increase in the quality of these components at the OEM and aftersales levels. Thus, the market is poised to offer several business opportunities to market players in the coming years, especially considering the rising demand for luxury vehicles in developing countries.
Some major players operating in the automotive sunroof market are Webasto SE, Inalfa Roof Systems Group B.V., Inteva Products LLC, Aisin Seiki Co. Ltd., Automotive Sunroof Company, Magna International Inc., Corning Incorporated, Yachiyo Industry Co. Ltd., Nippon Sheet Glass Co. Ltd., and CIE Automotive.