The global automotive panoramic sunroof market is expected to post a CAGR of close to 10% during the period 2019-2023, according to the latest market research report by Technavio. However, the market’s momentum will decelerate in the coming years because of the decrease in the year-over-year growth.
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Technavio has released a new market research report on the global automotive panoramic sunroof market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global automotive panoramic sunroof market size is the adoption of smart glass technology in panoramic sunroofs. Smart glasses have gained immense popularity in the automotive industry and are increasingly being used in modern vehicles. Smart glass modifies the properties of light based on the variations in light intensity, heat, and voltage fluctuations. It has a laminated glazing which does not pose any security issues. Furthermore, smart glass is lightweight, and thus helps to increase the fuel efficiency of vehicles. Smart glass technology is witnessing increased adoption in panoramic sunroofs as they are large, transparent glass panels, which cover the entire front and rear side of the vehicle cabin. Thus, the adoption of smart glass is expected to fuel the growth of the automotive sunroof market size during the forecast period.
As per Technavio, the development of the panoramic sunroof airbag system will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global automotive panoramic sunroof market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Automotive Panoramic Sunroof Market: Development of Panoramic Sunroof Airbag System
Panoramic sunroofs are prone to the shattering or sunroof ejection, particularly during vehicle crashes or accidents. Thus, vendors in the market are focusing on developing panoramic sunroof airbag aimed at reducing incidents and helping to enhance consumer confidence. Therefore, it is a significant development targeted towards reducing the risk of fatalities caused by sunroofs. Technavio’s automotive panoramic sunroof market analysis report identifies the development of sunroof airbag system as one of the key trends in the market during the forecast period.
“Apart from the development of panoramic sunroof airbag system, other factors such as the development of solar sunroofs for electric vehicles, and the growing popularity of polycarbonate will have a significant impact on the automotive sunroof market growth during the forecast period,” says a senior analyst at Technavio.
Global Automotive Panoramic Sunroof Market: Segmentation Analysis
This market research report segments the global automotive panoramic sunroof market by application (SUV, sedan and hatchback, and others), and geographic regions (North America, APAC, Europe, South America, and MEA).
The North American region led the automotive panoramic sunroof market in 2018, followed by APAC, Europe, South America, and MEA respectively. The growth of the automotive panoramic sunroof market in North America can be attributed to factors such as the growing adoption of automotive technologies, and the increasing need for OEMs to differentiate themselves in the highly competitive automotive market in the region.
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