The global automotive sunroof market reached a valuation of $4.9 billion in 2015 and is predicted to attain a value of $10.1 billion by 2022. Furthermore, the market is predicted to demonstrate a CAGR of 10.9% between 2016 and 2022. The increasing requirement for controlling light inside automobiles, the mushrooming popularity of premium cars, and the growing need for bigger glass surface area in vehicles are the main growth drivers of the market.
The ballooning sales of premium cars is a major factor fueling the expansion of the market. In many countries, the sales of premium cars have grown sharply in the last decade. For instance, in China, the passenger vehicle industry grew by more than 26% in the last decade. According to many reports, 1.25 million units of premium cars were sold in China in 2012, which made the industry in the country the second-biggest in the world after the U.S.
Request to Get the Sample Report@ https://www.psmarketresearch.com/market-analysis/automotive-sunroof-market/report-sample
In China, premium cars accounted for as much as 9% of all passenger car sales in the country in 2012. This share is greater than the ones observed in South Korea (6%) and Japan (4%). Besides the rising demand for premium cars, the increasing consumer preference for various value-added services such as sunroofs is also driving the progress of the automotive sunroof market across the world. In recent times, the premium car industry has recorded considerably high growth.
Hence, it can be said without any hesitation that the market would register huge growth around the world in the future years, mainly because of the rising sales of premium cars and the growing popularity of vehicles having sunroofs across the world.