Increasing Demand for Premium & Luxury Vehicles to Boost the Automotive Roof System Market
Added: (Mon Feb 25 2019)
Pressbox (Press Release) -
Transparency Market Research in its new report titled, “Automotive Roof System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026,” provides key insights on the automotive roof system market. The new report anticipates that the increasing demand for premium & premium vehicles will drive the automotive roof system market during the forecast period i.e, 2018-2026.
The TMR report has segmented the global automotive roof system market based on type, material, passenger vehicle, sales channel, and region. Based on type, the report has segregated the global automotive roof system market into panorama roof system, sunroof system, multi optional roof system, solar roof system, and convertible roof system. Panoramic sunroofs enrich the vehicle exterior and keep the vehicle interior fresh. They enhance the esthetic appearance of the vehicle. Hence, demand for panoramic sunroofs is rising in luxury and premium-class vehicles. Rise in demand for vehicles is primarily ascribed to the increase in world population, transition in peoples’ lifestyle in several regions across the globe, development and expansion of infrastructure, and rise in affluent population. Based on material, the automotive roof system market is split into aluminum, steel, polycarbonates, and others. Major OEMs are emphasizing on enhancing fuel efficiency.
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Utilization of aluminum vehicle parts reduces the weight of the vehicle, which in turn increases the acceleration and curbs the overall gross vehicle weight (GVW) thereby augmenting the fuel efficiency. Light weight of vehicle enhances the acceleration and braking of the vehicle. High-end vehicles, such as Jaguar, have switched to aluminum alloy in body-in-white and also for the roofs. Premium vehicle manufactures have begun adopting aluminum alloy roof panels due to their high crash worthiness and weight saving ability, which in turn is propelling the aluminum segment.
On the basis of geographical perspective, the report has considered prominent regions for the analysis that include North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Regional level breakdown has been conceded out on the basis of vehicle production, adoption rate, GDP, presence of roof manufacturers and society demand. North America and Europe are anticipated to witness steady demand for vehicles, however, in terms of revenue, Europe is likely to dominate the global roof system market, owing to the higher penetration of panorama and solar roof systems in the region. Increasing production of premium vehicles in India and consumer demand for innovative roof system and high production of passenger vehicles as well as presence of automotive roof system manufacturers in China are likely to propel the automotive roof system market in Asia Pacific during the forecast period, the report says.
Major players operating in the global automotive roof system market are included in this report to give a better competitive analysis and these 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.
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