Automotive Sunroof Market is predicted to grow with a CAGR of more than 10.39% by 2032: MRFR

Pune, India, August, 2020 /MRFR Press Release/- Market Research Future published a cooked research report on global automotive sunroof market. The Automotive Sunroof market is expected to expand at 10.39% CAGR during the period 2024 to 2032.

Automotive Sunroof Overview: 

The Automotive Sunroof Market will witness a healthy growth from 2024 to 2030, a research report suggests. Growing at a CAGR of 10.39%, the market is projected to reach US$39.68 billion by 2032. The increase in demand for lightweight and impact-resistant sunroof is expected to support the market growth along with new innovations and developments. As predicted by analysts, the low penetration in the entry-level vehicles will negatively affect the market’s performance from 2024 to 2032. During the forecast period, the market will be supported by investments in research and development and the demand for advanced sunroof equipped with innovative technology. The high manufacturing cost of sunroofs on the other hand will challenge automotive parts sector-based organizations functioning in the Global Automotive Sunroof Market. 

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Automotive Sunroof MarketResearch Report

Analysts have split the market into type, application, region, and sales channel segments based on products and services. Automotive parts based companies have been profiled. Growing concerns regarding high costs is set to affect the global market during the forecast period 2022 to 2030. The report also provides the market’s performance forecasts till 2030. Analysts have studied the strategy of automotive parts segment based organizations to help new entrants and established businesses. The automotive parts sector itself is supported by development activities to reduce weight as well as transparency and 3D formability. During the forecast period 2022 to 2030, the Automotive Sunroof Market is set to witness a health growth across type, application, region, and sales channel segments as well as regional markets. 

Market Segmentation: 

The Automotive Sunroof Market has seen growth across type, application, region, and sales channel segments owing to the rise in distribution channels and the growing application areas. To study the market, analysts have further segmented type, application, region, and sales channel into inbuilt sunroof, panoramic sunroof, pop-up sunroof, spoiler sunroof, and others on the basis of application. The market is further segmented into a type sub segment which is split into SUV, Sedan, Hatchback, others. Additionally, the automotive sunroof market on the basis of the sales channel is segmented into OEMs and aftermarket. 

The segmental analysis presented in the report provides automotive parts field based organizations insights into key growth factors such as the growing demand from companies across many industries as well as challenges such as an undeveloped infrastructure the market will face from 2022 to 2030. The penetration of conventional technology and the growing demand for innovative products are some of the key factors having an influence on automotive parts industry based companies, suggest analysts as per the automotive sunroof market report. But the report also identifies the lack of skilled workers in the market for maintenance and repair and high maintenance and deployment costs as major threats companies in automotive parts will face till 2030.  

Regional Overview: 

Automotive Sunroof Market based companies in the automotive sunroof market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. The rising demand from a large number of companies in various industry sectors will be a key growth driver for regional markets. However, an unorganized parts sector will turn out to be a threat. For the forecast period 2022 to 2030 each of these regional markets are studied in the report. Starting from North America, the regional market and automotive parts vertical based companies are spread across the United States, Canada, and Mexico. Demand and supply gaps will turn out to be a major challenge from 2022 to 2030. 

Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by the surging usage across different industries as well as growing investments across different sectors, suggests the report. Similarly, the automotive parts sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the automotive sunroof market covers the Middle East and Africa. Forecast based on the report’s findings are presented for the forecast period till 2030. 

Competitive Landscape: 

The Global Automotive Sunroof Market Research Report brings a comprehensive study of type, application, region, and sales channel market segments, regional analysis, and automotive parts vertical based company details of key players. As the forecast period 2024 to 2030 will bring new opportunities for the market owing to a rise in the disposable income and the increasing spending power of consumers, the market is set to grow at a compound annual growth rate of 10.39% and is predicted to reach a value of US$39.68 billion by 2030. With SWOT analysis of automotive parts sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as unstable raw material prices and low research and development budgets, companies in the automotive parts sector can change the way business is done. 

Industry News: 

Due to a sunroof issue, BMW is recalling approximately 14,000 228i and M235i cars from 2020 as well as 2021 car models. This concern, which was first recorded on February 18, isn't so much about anything being broken as it is about the vehicles failing to follow the same Federal Motor Vehicle Safety Requirement. If a driver finally opens the power sunroof on an impacted vehicle but instead turns the engine off or lock, the sunroof can begin to close, which seeks to reduce the risk of serious injury from the accidental function of a sunroof.