As per the industry analysis by the year 2014 the Automotive Sunroof Market was priced at USD $4.66 billion. Due to the increase in the usage of smart glass on the vehicles the sunroof market is likely to grown at a CAGR of 9.8% by the year 2022. Customer inclination is growing for the inbuilt system for the medium and premium category vehicles, which will thrust industry evolution in the coming years. The inbuilt automotive sunroof market is also foreseeing a growth, and is expected to grow at a CAGR of 7.5% in the near future. The automotive market has seen growth due to the surge in the number of people owning vehicles, especially the alternative fuel vehicle segment, has obligated automotive manufacturers to create sunroof with built-in solar cells which give power to the vehicles. The large number of buyers prefer sunroof cars hence the manufacturers are giving built in sunroof to the premium and medium segment cars to meet the customer requirement and survive in the market as per the trend.
China glass automotive sunroof market size, by product, 2012-2022 (USD Million)
An augmentation is in the field of technology is anticipated with the increase in demand of solar roofs for electric vehicles. In the year 2014, glass sunroof market was the prominent product in the segment, followed by fabric sunroof market with foldable models also called as rag-tops in the Europe and North American market.Inbuilt sunroof, top mount sunroof, panoramic sunroof, tilt and slide sunroof and pop-ups sunroof are the product categories witnessing growth. A growth of CAGR of over 15% is likely to be witnessed in the year 2022 in panoramic sunroof market as compared to year 2015. The owner’s preference has now moved to bigger sunroofs. The technology is adapted by vehicle producers due to safety and comfort features which attract the customers. This also distinguishes their products and gives competitive edge in the booming market.
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Written By : Dhananjay Punekar