Automotive Sunroof Market Will Generate $14.19 Billion Revenue by 2030, Says P&S Intelligence

NEW YORK, Nov. 30, 2022 /PRNewswire/ -- According to the recent market research study published by P&S Intelligence, in 2021, the automotive sunroof market was worth $6.43 billion, and it is expected to reach $14.19 billion by 2030, advancing at a 9.2% CAGR from 2021 to 2030. This is due to the technological developments in sunroof systems, growing automotive manufacturing, and surging per capita income.

Additionally, the growing consumer spending on better ventilation and brighter interiors, to enhance the driving experience, will boost the demand for automobile sunroofs. As consumer tastes are shifting in favor of a better driving experience, such components are growing in popularity.

Innovation in Glass Technology Plays Vital Role in Enhancing Comfort

Sunroof glass makers are focusing on technological advancements to manufacture laminated glass, green glass, and tempered glass, which may shield against UV rays. The air circulation in vehicles is also improved by such parts, while the glazing technology enhances thermal comfort and dampens noise.

Get the sample pages of this report: https://www.psmarketresearch.com/market-analysis/automotive-sunroof-market/report-sample

Sport Utility Vehicle Adoption Is Growing

Due to their wide range of power output, better amenities, and longer range, SUVs are among the most-popular automobile classes. They are also highly adaptable on unpaved surfaces. Hence, SUVs are predicted to see significant adoption in the coming years, especially in developing countries like China and India, which would propel the demand for sunroofs.

Major Revenue Contributor Is Glass Variants

Glass variants account for a significant share of sales in the market, and they will continue to dominate it in the years to come. This may be ascribed to the technological advancements that have made it possible to manufacture a variety of glass products.

A Consumer Favorite: Premium and Luxury Vehicles with Sunroofs

The premium and luxury cars category also holds a significant share of the market, due to the consumers' surging spending power in developing countries, as well as in advanced economies, including the U.K., the U.S., Italy, France, Germany, and Spain. The early popularity of sunroofs in developed nations is largely attributed to luxury automotive OEMs' focus on boosting the overall travel experience and comfort of the vehicle.

Browse detailed report on Global Automotive Sunroof Market Size, Share and Demand Forecast Report 2030

Largest Share Is Captured by Asia-Pacific

The Asia-Pacific region holds the largest share, and it is expected to advance at a rate of over 10% in the years to come. This is owing to the surging need for premium vehicles, coupled with the growing disposable income in developing countries, including India and China.

Moreover, the existence of key players, including Hyundai-Kia, Suzuki, Toyota, Lexus, Mitsubishi, and Tata Motors, as well as the escalating demand from younger consumers for post-sale sunroof installation, is driving the market's expansion.

Europe is the second-largest market, and it will continue to advance at a significant CAGR over the next several years. This is mostly because luxury cars are becoming increasingly popular and because OEMs have a strong tendency to add extra features to enhance the driving experience.

Automotive Sunroof Industry Report Coverage

By Type

• Glass Sunroof
• Fabric Sunroof

By Vehicle Type

• Premium and luxury Cars
• SUV
• Sedan Cars
• Hatchback

Regional Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa

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SOURCE P&S Intelligence