Automotive Sunroofs Market to Perceive Substantial Growth during 2024 January 10, 2022
The vendor landscape of the global automotive sunroof market features several big as well as small player, however large public listed companies dominate, observes Transparency Market Research (TMR) in a recent report. The report states that the leading five vendors in the market, namely Aisin Seiki Co Ltd., Yachiyo Industry Co. Ltd., Valmet Automotive, Webasto SE, and Mitsuba Corporation, collectively held a nearly 64% of the overall market in 2016. With opportunities significantly rising in the sector of electric and hybrid cars, a number of companies are foraying into the segment of solar sunroofs.
Product innovation, technological advancements, and acquisitions are the key competitive strategies adopted by the players in the automotive sunroofs market. The market is expected to witness a surge in the number of acquisitions as large companies will acquire small players to expand their product portfolios and geographical reach. Expansion of manufacturing facilities is also a key business strategy adopted by market players to strengthen their grasp on the market. Recently, Webasto SE announced in April 2016 that it was expanding its existing plant for roof systems in Hiroshima, Japan. Inteva Products, LLC also announced that it had established a new technical unit in Bangalore, India, in September 2016.
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Transparency Market Research estimates that the global market for automotive sunroof was valued at US$4,796.0 mn in 2016 and is expected to reach US$12,935.1 mn in terms of revenue by 2025, exhibiting a CAGR of 11.8% from 2017 to 2025.
Asia Pacific Market to Register Strong Growth, Emerge as Most Promising Region
In terms of type of sunroof, the segment of in-built sunroof is presently the dominant contributor of revenue to the global market. The segment accounted for a massive share in the global market in 2016 and is expected to retain its top spot throughout the forecast period. It is expected to exhibit a promising 11.8% CAGR from 2017 to