PUBLISHER: SkyQuest | PRODUCT CODE: 1455136
PUBLISHER: SkyQuest | PRODUCT CODE: 1455136
Global Sunroof Glass Market size was valued at USD 6.95 billion in 2022 and is poised to grow from USD 7.79 billion in 2023 to USD 19.46 billion by 2031, growing at a CAGR of 12.12% during the forecast period (2024-2031).
In July 2021, AGC Inc., a prominent glass manufacturer, revealed its intention to allocate EUR 5.5 million for the enhancement of its sunroof glass production facility in Belgium. This investment aims to address the escalating demand for sunroof glass in Europe. The global sunroof glass market's objective is to satisfy the rising need for vehicles equipped with sunroofs, offering top-notch glass panels that adhere to the automotive industry's safety, performance, and aesthetic standards. An illustrative example is from May 2021, when Saint-Gobain Sekurit, a global automotive glass supplier, disclosed a EUR 25 million investment in its sunroof glass production plant in Germany. This initiative seeks to augment capacity and enhance production capabilities. Recognized as a luxury feature in vehicles, sunroofs contribute to an enriched driving experience and increased passenger comfort. The design of sunroof glass prioritizes clear visibility, protection against external elements, and structural integrity to ensure the secure and dependable operation of sunroofs in vehicles.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Sunroof Glass Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Sunroof Glass Market Segmental Analysis
Global Sunroof Glass Market is segmented on the basis of vehicle type, sunroof type, glass type and region. By vehicle type, the market is segmented into electric, passenger, commercial. By sunroof type, market is segmented into panoramic sunroof, pop-up sunroof, spoiler sunroof, inbuilt sunroof. By glass type, the market is segmented into tempered glass, laminated glass, solar control glass, privacy glass. By region, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Drivers of the Global Sunroof Glass Market
Advancements in sunroof glass technology, characterized by enhanced safety features, the use of lightweight materials, and customizable designs, are fueling the widespread acceptance of sunroofs in vehicles. Manufacturers can now provide cutting-edge and high-performance sunroof glass solutions, contributing to the growing popularity of these innovative features in the automotive industry.
Restraints in the Global Sunroof Glass Market
Adherence to rigorous regulations and safety norms within the automotive industry, particularly those pertaining to sunroof glass, could present obstacles for manufacturers by necessitating compliance efforts and incurring supplementary expenses. These factors have the potential to exert an influence on the expansion of the sunroof glass market.
Market Trends of the Global Sunroof Glass Market
The increasing popularity of electric and hybrid vehicles is fueling a surge in the market demand for expansive sunroofs, aiming to offset the absence of engine noise and emissions. This trend seeks to enhance the driving experience for passengers by creating a more pleasurable and spacious atmosphere within the vehicle.