Sunroof Glazing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
Sunroofs refers to a panel in the roof of a car which can be opened for extra-ventilation. It is a glass panel used in an automobile roof to allow fresh air to enter the compartment of passengers. These sunroofs can be both manually operated and motor driven. Automotive sunroof glazing is widely used in the luxury cars to allow light as well as fresh air to enter the vehicle. These provide a level of comfort to the customers. The investment in this market is growing as the global investors are making high investments in latest and attractive technologies.
The global sunroof glazing market is expected to grow at a significant rate through 2030 owing to shifting customer preference towards sunroofs, and adoption of latest designing options by the market players. As per analysts, the compound annual growth rate will exhibit a steady rise globally over the forecast period.
Key Growth Factors:
The rise in the disposable income of people living in developing economies is forcing them to switch to vehicles with sunroof glazing for brightness, fresh air and better ventillation.
Adoption of automated technologies and designs by the industrialists globally is resulting in expanding the growth of this market.The global manufacturers are adopting latest features like sunroof glazing in their vehicles for ventillation purposes to attract the customers.
The rising government initiatives to motivate the automotive industrial players to invest in this market is augmenting the growth of sunroof glazing market. The government’s initiatives involves provision of incentives and subsidies to the manufacturers for including these sunroofs in all of their vehicles. Increasing demand of lightweight vehicles throughout the world is creating immense opportunities for the manufacturers to witness progress in this market.
The cost of repairing these sunroofs is high which acts as a negative factor to suppress its progress in the market. The engineers are sometimes unaware about the latest plastic gazing. This unawareness regarding modern plastic gazing among the engineers and manufacturers restricts the further growth in the market.
Covid 19 pandemic has created a negative impact on the market growth of sunroof glazing. The pandemic had reduced the sales level of vehicles throughout the world. Due to the closing of manufacturing centers in the lockdown, the production got restricted along with the sales. . The global market for sunroof glazing has lost its entire momentum.The people across the world are suffering from financial crisis leading to reduction in the sales of luxury vehicles. However, the relaxations in the lockdown given to the production hubs by the government has increased the production and sales.
The market players are going through a phase where they are giving extra efforts to increase the sales of these sunroofs. They are adopting multiple strategies at a time to encourage the customers and automotive manufacturers to go for these sunroofs for increasing the sales. It is forecasted that the growth for this market will rise exponentially creating opportunities for the manufacturers in this market.
The market for sunroof glazing is projected to witness an incredible rise in its growth rate through 2030. Asia Pacific is likely to be the numero uno market and account for significant market share. In developing economies like China and India, the rise in disposable income of consumers along with the rising demand for premium vehicles is contributing to drive the market growth. Government initiatives in India, China and Japan such as provision of subsidies and incentives to environmental friendly industries is further addding its contributions to the slurring of market growth in Asia Pacific.
On the other hand, Europe is predicted to occupy second largest position in this market globally on account of rising demand for luxury vehicles and adoption of sunroofs in all passenger vehicles in Germany, France, Spain and Italy. Rising investments from leading as well as new manufacturers in Germany is creating a global surge in the market growth.
Furthermore, the manufacturers in North America are expected to witness tremendous growth opportunities in sunroof glazing market due to increasing usage of automotive glazing in windshield and adoption of automated designing options in Canada and Mexico. The manufacturing industries are increasingly investing in this market to become market leaders and extend their presence across the world. United States is predicted to achieve the fastest growing CAGR through 2030.
By Vehicle Type:
By Sunroof Type:
By Sales Channel:
By Glass Type:
The market for automobile sunroof glazing is moderately fragmented. The market players are giving stiff competition to each other to survive in cut-throat competition and expand their operations globally. They are increasing their potential by concentrating on new product launches, innovations, expansions, joint ventures, collaborations with other brands etc. Some of themajor players in this market are Saint-Gobain S.A. , Safelite Group, Vitro SAB de CV, Nippon Sheet Glass Corporation Limited, Fuyao Group, Corning Glass, Asahi Glass Corporation Limited, AGC Glass Europe, Auto One Glass, Magna International Incorporation, Webasto Group, Valmet Automotive, Ajsin Seiki Limited, Yachiyo Corporation, Inalfa Roof Systems, Inteva Products LLC etc.
For instance, Webasto Group has shifted its sunroof production plant to a larger plant in Guangzhou situated in China to expand its market presence.The new plant has the potential to enable the production ofabout 1.6 million sunroofs annually. The company has developed a new convertible roof system for Mercedes-AMG GT and GT C Roadsters that has high speed andsuperior aesthetic system. In addition to Webasto Group, Inalfa Roof Systems have opened their facilities in Cherokee, Poland, Chongging, South Korea etc to extend its operations globally and capture major market share. Further, Inalfa company has opened a new technical center in the United States.
What is the outlook on sunroof glazing market?
The global sunroof glazing market is likely to grow at a CAGR of over 8% through 2030, as recovery in automotive industry gets underway
Which is the most lucrative category for sunroof glazing manufacturers?
Passenger cars represent the most lucrative opportunity for sunroof glazing manufacturers around the globe.
Which are high-growth markets for sunroof glazing manufacturers?
China and India are among the most lucrative markets for sunroof glazing globally.
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Latest Trends and Cardinal Growth Prospects
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Ascensions in Technology
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The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
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