Transparency Market Research has published a new report titled, “Global Automotive Roof System Market (Type: Panorama Roof System, Sunroof System, Multi-optional Roof System, Solar Roof System, Convertible Roof System, and Plain Roof System; Passenger Vehicle Type: Hatchback, Sedan, Utility Vehicle, Material: Aluminum, Steel, Polycarbonate, and Others, Sales Channel: OEMs and Aftermarket ) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026.” According to the report, the global automotive roof system market is projected to surpass US$ 37 Bn by 2026, expanding at a CAGR of above 5% during the forecast period.
According to the report, the global automotive roof system market is likely to be driven by a range of macroeconomic and industry-specific factors. Asia Pacific is expected to be at the forefront of global demand, with the market in the region expanding at a CAGR of more than 5% between 2018 and 2026.
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Companies such as Webasto Group and Inalfa Roof Systems
Group, provide innovative roof systems that offer versatile additional features
and have a classic appearance. Automotive manufacturers are also constantly
developing their roof systems by providing multiple options for consumers. Wide
acceptance of convertible roofs and panoramic roof systems by consumers, owing
to the comfort offered while driving coupled with extra space, and more air and
light, is expected to boost the automotive roof system market during the
forecast period. Demand for both hybrid and electric vehicles has been rising
across the globe. The major reason is attributed to stringent carbon emission
norms being imposed by regulatory authorities worldwide and increasing safety
concerns among consumers. The advent of hybrid vehicles is anticipated to offer
significant opportunity to solar sunroof manufacturers, as a solar sunroof is
highly effective for hybrid vehicles. Various research and development
activities are being carried out by leading manufacturers in order to increase
production of electric vehicles, which in turn is likely to increase
implementation of solar sunroofs considerably in the near future. For example,
Toyota has plans to make a solar roof available for the next generation Prius,
which is an electrical vehicle. Globally, vehicle production has been
increasing for the last five years, due to the increasing usage and demand for
passenger vehicle types, thereby driving the global automotive roof system
market.
In terms of type, the global automotive roof system market
has been divided into panorama roof system, sunroof system, multi-optional roof
system, solar roof system, convertible roof system and plain roof system. Rise
in demand for high-end luxury vehicles across the globe, due to increased
demand for more comfortable and esthetically appealing vehicles, is expected to
drive the convertible roof system segment of the market. Presently, consumers
expect an increasingly high level of comfort in their cars, which is likely to
boost the market for convertible vehicles in the region.
Based on material, the automotive roof system market has
been divided into aluminum, steel, polycarbonate, and other. The body of the
vehicle, primarily roof panels, is manufactured from aluminum, which reduces
the weight and provides desired properties. The aluminum segment is anticipated
to expand, in terms of revenue and volume, as an increasing number of
automakers are adopting aluminum alloy roof panels due to their high crash
worthiness and weight benefits.
In terms of passenger vehicle type, the automotive roof
system market has been classified into hatchback, sedan, and utility vehicle.
The utility vehicle segment is anticipated to hold a major share of the market
during the forecast period. The utility vehicle segment includes SUVs,
crossovers, and MPVs. Demand for utility vehicles is rising across the globe
owing to their advantages such as driving comfort and drivability on off-road
conditions.
In terms of region, the global automotive roof system market
has been segregated into North America, Europe, Asia Pacific, Middle East &
Africa, and Latin America. Asia Pacific is likely to dominate the automotive
roof system market during the forecast period owing to increased demand for
luxury vehicles, raised preference for electronically advanced vehicles, and
increased adoption of advanced safety technologies and vehicle enrichment
accessories.
Prominent players operating in the global automotive roof
system market include AAS Automotive s.r.o., AISIN SEIKI Co.,
Ltd., ALUPROF Aluminiumprofile GmbH., BOS Group, CIE Automotive, Covestro AG,
GAHH, LLC, Inalfa Roof Systems Group B.V., Inteva Products, JAC Products.,
Magna International Inc., THE HAARTZ CORPORATION, Valmet Automotive, and
Webasto.
The global automotive roof system market has been segmented
as follows:
- Global
Automotive Roof System Market, by Type
- Panorama
Roof System
- Sunroof
System
- Multi-optional
Roof System
- Solar
Roof System
- Convertible
Roof System
- Plain
Roof System
- Global
Automotive Roof System Market, by Passenger Vehicle Type
- Hatchback
- Sedan
- Utility
Vehicle
- Global
Automotive Roof System Market, by Material
- Aluminum
- Steel
- Polycarbonate
- Others
- Global
Automotive Roof System Market, by Sales Channel
- OEMs
- Aftermarket
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