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Selbyville, Delaware, United States, November 20 2020 (Wiredrelease) Global Market Insights, Inc :Rising automotive sales and growing consumer preference for vehicles with improved aesthetics advanced features will fuel automotive sunroof market outlook. Consumers have also been exhibiting preference for improved glass technologies like scratch resistant and toughened unbreakable glass which will help automotive sunroof industry size to expand. According to the latest research report by Global Market Insights Inc., automotive sunroof market share is anticipated to record valuation of $40 billion by 2025.
Automotive sunroof industry players have been continuously investing in research and development activities for developing advanced safety features for sunroofs and expanding annual revenue share. For example, in 2017, Hyundai Mobis introduced a panoramic sunroof airbag system which provides enhanced protection to driver and passengers in accident. Such advanced systems being developed by market players will boost global automotive sunroof market size.
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Growth in sales of electric vehicles has been potentially backing automobile OEMs to integrate recharging capabilities and solar panels in sunroofs. Installation of such equipment aims to improve vehicle driving range and decrease charging time considerably. In addition, superior protection from UV rays and suitable glass tinting will further accelerate automotive sunroof industry size over 2019-2025.
Automotive sunroof market forecast report has predicted that glass sunroof segment is expected to register substantial growth over the coming years. The growth can be accredited to the availability of a wide range of glass sunroofs at diverse price range. Furthermore, easy accessibility to tempered and laminated glass with exceptional UV protection and potential to maintain an optimum car interior temperature will further expand glass sunroof segment share. Thus, enhancement of automotive sunroof industry trends will be significantly contributed to by glass sunroof segment growth.
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Automotive sunroof industry from panoramic sunroofs has been anticipated to account for a considerable volume share by 2025. The segmental growth can be attributed to the growing adoption of such sunroofs in high-end and premium models. The bigger sunroof size and premium experience in vehicles will enhance automotive sunroof market outlook. Automobile OEMs have been introducing new models with panoramic sunroofs to increase their sales statistics. For example, in April 2019, MG Motors has reportedly announced Hector SUV which has the largest panoramic sunroof in its segment. The launch of such automobiles with advanced and larger panoramic sunroofs will expand automotive sunroof industry size.
OEMs are going to account for majority of the overall revenue share in automotive sunroof industry share over the forecast timeline. The segmental growth can be attributed to the intensifying focus of automakers for introducing and upgrading present vehicles with sunroofs. Also, enhancing trends of integrating high end aspirational features in lower and mid segment automobiles will surge automotive sunroof market share.
Asia Pacific automotive sunroof market share is anticipated to account for a considerable revenue share