Automotive Roof System Market Outlook – 2027
Automotive roof system allows flow of fresh air and sunlight in the car. There has been an immense development in the roof system in the past few years. Various types of automotive roof systems such as sunroof system, multi-optional roof, panorama with sunroof system and solar roof system have become more flexible & dynamic in nature. Furthermore, roof system made up of glass-plastic composite and fiber-plastic composite are used in cars for light weight construction and to control fuel consumption of the vehicle. Leading roof system innovators have also stepped into the market because of a higher profit margin from automotive roof system market.
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COVID-19 scenario Analysis:
- The vendors in roof system industry across the globe is being affected severely due to the restrictions on producers as well as the declared lockdowns which in turn affecting the automotive roof system manufacturers worldwide.
- As the governments all over the world have declared lockdowns over the past few months, the demand and supply cycle of many automotive roof system manufacturers is vulnerable.
- The pandemic has had a negative impact on the automotive roof system market size for the year 2020, a major deviation is noticed in the growth of roof system manufacturers due to coronavirus.
- Automotive roof system is an evolving sector which is hampered due to an ongoing COVID-19 pandemic, due to which all type of production and installation of automotive sunroof across the affected countries had been shut down & all operations are disrupted due to the pandemic.
- Majority of automotive roof system manufacturers are facing issues such as closure of factories and unavailability of workforce due to the lockdowns which further affects the production of cars as well.
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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Increase in demand for premium segment of the vehicles and innovations in materials such as glass-plastic composite and fiber-plastic composite are driving the growth of the market. However, low penetration of roof system in mid segment vehicles is expected to hamper the growth of the market. Contrarily, increasing penetration of roof systems in sport utility vehicle (SUV) across the globe is an opportunity for the market investments.
The automotive roof system market trends are as follows:
Increase in demand for premium segment vehicles
In spite of the current economic slowdown and rising interest rates on bank loans, the demand for premium vehicles has been increasing across the world. The premium vehicle segment is a key market for numerous autonomous & expensive features such as adaptive cruise control (ACC) and roof systems. Additionally, luxury cars provide a high level of comfort and safety features such as lane-departure warning (LDW) and automatic emergency braking (AEB) making it more secure. Therefore, the increase in demand for premium vehicles is expected to upsurge the autonomous roof system market growth.
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Key benefits of the report:
- This study presents the analytical depiction of the automotive roof system industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the automotive roof system market.
- The current market is quantitatively analyzed from 2019 to 2027 to highlight the automotive roof system market growth scenario.
- We can also determine roof system will remain a significant revenue shareholder in the automotive roof system market through the predictable future.
Questions answered in the automotive roof system market research report:
- What are the leading market players active in the automotive roof system market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
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