Convertible Roof Systems: Worldwide Market Analysis & Outlook (2018-2025) - Projected to Reach $2.11 Billion - ResearchAndMarkets.com
The soft top segment is estimated to be the leading rooftop type segment, in terms of both volume and value, as these systems offer all-round visibility and maximum ventilation.
The luxury vehicles segment of the convertible roof system market is expected to grow at the highest CAGR, during the forecast period, as the current demand for luxury cars is high in countries such as Germany, Italy, the UK, Spain, and France. Moreover, Germany is a hub for technological innovations, leading to the substantial growth of the luxury vehicles market.
The sedan/hatchback car segment is estimated to account for the largest share of the convertible roof system market, in terms of volume. The increasing demand for luxury vehicles will contribute to the growth of the convertible roof system market for sedan/hatchback cars. In the current automotive market, hatchbacks are a popular body type in developing countries such as China, Brazil, and India. The use of SUVs is continuously increasing, especially in the US.
The HEV segment is estimated to be the leading segment, by electric vehicle type, in terms of both volume and value. Hybrid electric vehicles mostly come equipped with soft tops which provide all-round visibility and maximum ventilation. The Toyota RAV 4 XLE is the latest model of HEV equipped with a convertible soft top roof system which costs around USD 24,550.
DriversIncreased Demand for Premium Segment Vehicles to Drive the Demand for Convertible Roof SystemInnovations in Materials to Drive the Convertible Roof System Market
RestraintsIncreasing Penetration of Panoramic SunroofLow Penetration of Convertible Roof System in Mid Segment Vehicles
OpportunitiesIncreasing Penetration of Convertible Roof System in SUV Across the Globe
ChallengesHigh Cost of Regular MaintenanceDifficulty in Coping Up With Government Fuel Efficiency Norms
Companies ProfiledWebasto (US)Magna International (Canada)Valmet Automotive (Finland)Aisin Seiki (Japan)Continental (Germany)Pininfarina (Italy)Standex International (US)Hoerbiger (Switzerland)Haartz (US)GAHH Automotive (US)
For more information about this report visit https://www.researchandmarkets.com/research/2wlf2x/convertible_roof?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20181009005505/en/
Laura Wood, Senior Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics:Electric and Hybrid Vehicles,Automotive Body, Trim and Glass
INDUSTRY KEYWORD: AUTOMOTIVE PERFORMANCE & SPECIAL INTEREST
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 10/09/2018 04:53 AM/DISC: 10/09/2018 04:53 AM