Portland, OR, Aug. 22, 2019 (GLOBE NEWSWIRE) -- According to the report by Allied Market Research, the global automotive sunroof market garnered $7.09 billion in 2017, and is estimated to reach $13.55 billion by 2025, registering a CAGR of 9.7% from 2018 to 2025. The research provides a detailed analysis of changing market dynamics, key investment pockets, competitive scenario, major segments, and key market players.
Innovations in glass technology and surge in demand for safety, convenience, and comfort features drive the growth in the market. However, increase in integration & maintenance costs and low penetration of power sunroof for low segment vehicles hinder the growth in the industry. On the other hand, rise in penetration of solar sunroof for electric vehicles and surge in sales of automotive vehicles create new opportunities in the industry.
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Glass segment to maintain its dominating position by 2025
Based on material type, the glass segment contributed the largest revenue in 2018, accounting for more than 90% of the total market share and is estimated to maintain its dominating position by 2025. However, the fabric segment is estimated to grow at the highest CAGR of 14.2% from 2018 to 2025
Gasoline powered vehicle segment to maintain its lead by 2025
Based on vehicle type, the gasoline powered vehicle segment contributed to nearly 90% of the total market in 2018 and is projected to maintain its lead by 2025. On the other hand, the electric powered vehicle segment would grow at the largest CAGR of 12.3% during the forecast period.
Europe to maintain its dominating position throughout the forecast period
Based on regions, Europe accounted for more than one-third of the total market share and is expected to maintain its leadership position throughout the forecast period. However, Asia-Pacific is expected to achieve the largest growth rate with a CAGR of 12.9% from 2018 to 2025.
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Leading market players
Key market players analyzed in the research include Aisin Seiki Co., Ltd., Webasto Roof Systems, Inc., Inalfa Roof Systems Group B.V., Johnan America, Inc., Inteva Products, LLC., CIE Automotive, Yachiyo Industry Co., Ltd., Automotive Sunroof Company, Inc., BOS GmbH & Co. KG, and Magna International, Inc.
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