Market Trends of Automotive Sunroof Industry
This section covers the major market trends shaping the Automotive Sunroof Market according to our research experts:
Increased Adoption of Sunroofs in Sports Utility Vehicles
Sport utility vehicles constitute one of the most popular automotive segments due to a wide range of vehicles of unmatched versatility in range, power output, and features. It is anticipated to witness an increased adoption, particularly in developing countries such as China and India, as consumer demand in these regions is growing at a faster pace. Thus, these factors have compelled manufacturers such as Ford, Chevrolet, Toyota, and Kia, among others, to further provide equipped features for enhanced customer satisfaction, as they were initially restricted to premium cars. For instance,
- In Oct 2021, Mahindra introduced XUV700 with a sunroof to enhance the passenger experience. The vehicle not only provides a natural condition but also enhances the vehicle's aesthetics.
Moreover, Audi Q3, Audi Q7, Acura RDX, and BMW X3, X5, and X6 are some of the popular and new SUV models fitted with panoramic sunroofs, which are expected to dominate the SUV market and drive the growth rate of the automotive sunroof in SUVs. For instance,
- In February 2021, BMW X3 xDrive30i Sport X waslaunched in India at INR 56.5 lakh. The new car is locally produced at BMW Group Plant Chennai, and the company has announced that the 'Sport X' petrol variant of the BMW X3 is also made available.
Asia-Pacific to Drive the Sunroof Market
The Asia-Pacific region accounts for the largest share of the global automotive sunroof market due to the presence of major automotive manufacturers, such as Hyundai-Kia, Suzuki, Mitsubishi, Tata Motors Limited, Lexus, and Toyota. Growing car customization trends and a higher younger population demanding aftermarket sunroof installations are some of the major factors driving the market for sunroofs in these countries.
Moreover, governments across Asia-Pacific are taking initiatives for the development of the automotive sector, in turn boosting associated market development. Further government initiatives to increase the adoption of electric vehicles and the rise in mass segment cars offering sunroofs as an optional feature are responsible for the stimulating demand for in-vehicle sunroofs. For instance,
In union Badgat 2021 Indian government has declared various subsidies for electric cars. Such government initiatives in different countries are likely to boost manufacturers in the market to boost their production during the forecast period.
