The Global Convertible Roof System Market is estimated to reach USD 1.7 Billion by 2025 at a CAGR of 6.7 %, predicts forencis research (FSR).
The convertible roof system is the type of vehicle tops, which can be folded or retracted in parts and step resulting in an open-air driving experience to the passengers. This system adds stylishness to the vehicle and is mostly used in premium and luxury cars. Convertible cars are versatile which can be used in enclosed and open-air mode. This system can be operated automatically or manually with the help of electrical actuators or hydraulic. Hard tops and soft-tops are two types of convertible roof system, wherein, hardtops roofs are made of Polyvinyl chloride (PVC), aluminum, steel, and carbon fiber composites or other rigid materials and Soft-top roofs are made of canvas rubber, vinyl or other textile materials.
Convertible Roof System Market: Drivers & Restraints
Rising Demand for Luxury Vehicles
Automotive manufacturers are engaged in developing innovative technologies that would add more style and comfort to the vehicles and can provide better connectivity solutions. The development of innovative technologies is an outcome of the growing demand for luxurious and smart vehicles. The demand for the premium and luxurious vehicles are growing on account of rise in per capita income results with inclination of the potential population towards better lifestyle. Also, the demand in further increased owing to higher investment to boost look and feel of the automotive vehicles.
Thus, the rising demand for luxury vehicles has boosted the demand for convertible roof systems during the forecast period.
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Increase in R&D Activities for Convertible Roof System
Vehicle manufacturers are implementing new technologies that are leading research and development into innovative convertible tops. The demand for more efficient vehicles results in an investment of R&D by prominent players. Some of the key players are increasing investment on research and development activities for better outcome, is soaring the market demand. For instance, in 2018 Webasto Group company has continuously invested in the expenditure of research and development and the main focus was on mechatronics, electro mobility, and advanced engineering. Which includes production, sales and development of sunroofs, convertible roofs, parking heaters, and panoramic roofs.
Hence, the increase in R&D activities for the convertible roof system is anticipated to boost the market during the forecast period.
Rising Adoption of Panoramic Sunroof System
The panoramic sunroof is one of the most popular options as it opens above the front and rear seats instead of being a fixed glass panel. Owing to its high popularity it is highly adopted in mass-market vehicles. In addition to this, the cost of panoramic sunroof systems is relatively low as compared to cost of convertible roof system and due to this, it is also installed in mid prized vehicles. Thus, rising adoption of panoramic sunroof system impacts the growth of the convertible roof system market.
Convertible Roof System Market: Key Segments
- Based on Roof Type: Hardtop Convertible Roofs and Soft-Top Convertible Roofs
- By Material Type: Polyvinyl chloride (PVC), Aluminum, steel, Carbon Fiber Composites, Rubber, and
- By Vehicle Body Structure: Sport Utility Vehicle (SUV), Sedan, Hatchback, Sports car, and
- Based on Vehicle-Category: Semi- Luxury Vehicles and Luxury Vehicles.
- By Vehicle Type: Internal Combustion Engine (ICE), Electric Vehicles and
- Key Regions Covered: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.
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Convertible Roof System Market: Report Scope
The report on the Convertible Roof System market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
List of the leading companies operating in the Convertible Roof System Market include:
- Webasto Group (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Continental AG
- Magna International Inc.
- Aisin Seiki Co Ltd
- Valmet Automotive.
- Pininfarina SpA
- Standex Int’l Corp.
- The Haartz Corporation
- GAHH, LLC.
Convertible Roof System Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Convertible Roof System Market, by Roof Type
- Hardtop Convertible Roofs
- Soft-Top Convertible Roofs
Convertible Roof System Market, by Material Type
- Polyvinyl chloride (PVC)
- Carbon Fiber Composites
Convertible Roof System Market, by Vehicle Body Structure
- Sport Utility Vehicle (SUV)
- Sports car
Convertible Roof System Market, by Vehicle-Category
- Semi- Luxury Vehicles
- Luxury Vehicles
Convertible Roof System Market, by Vehicle Type
- Internal Combustion Engine (ICE)
- Electric Vehicles
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Convertible Roof System Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
Key Questions answered by the report
- What are the major developments impacting the global market and its growth?
- What will be the effects of the developments in the global market on the industry and the market players in the near and far future?
- What are the evolving types of the global market?
- What are the evolving applications of the global market?
- What are the major characteristics that will affect the global market growth during the study period?
- Who are the key global players operating in the market?
- How are the major players leveraging in the existing global market conditions?
Table of Content
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Regional Coverage
1.5 Research Timeline
2 RESEARCH DESIGN & SCOPE
2.2 Primary Research
2.2.1 Key Industry Expert Insight
2.3 Secondary Research
2.3.1 Vital Data from Secondary Sources
2.4 Market Size Estimation
2.5 Data Validation & Triangulation
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.2.1. Rising Demand for Luxury Vehicles
4.2.2. Increase in R&D Activities for Convertible Roof System
4.3.1 Rising Adoption of Panoramic Sunroof System
4.4.1 Rising Demand for Convertible Roofs in Sport Utility Vehicle (SUV)
4.5.1 High Maintenance Cost
5 INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
5.1.1. Power of Buyers
5.1.2. Power of Suppliers
5.1.3. Intensity of Competition
5.1.4. Challenges of Substitutes
5.1.5. Challenges of New Entrants
5.2 Macro-Economic Indicators
6 CONVERTIBLE ROOF SYSTEM MARKET BY ROOF TYPE, Market Size in USD Million and Units (2018—2025)
6.2 Hardtop Convertible Roofs
6.3 Soft-Top Convertible Roofs
7 CONVERTIBLE ROOF SYSTEM MARKET BY MATERIAL TYPE, Market Size in USD Million and Units (2018—2025)
7.2 Polyvinyl chloride (PVC)
7.5 Carbon Fibre Composites
8 CONVERTIBLE ROOF SYSTEM MARKET BY VEHICLE BODY STRUCTURE, Market Size in USD Million and Units (2018—2025)
8.2 Sport Utility Vehicle (SUV)
8.5 Sports car
9 CONVERTIBLE ROOF SYSTEM MARKET BY VEHICLE-CATEGORY, Market Size in USD Million and Units (2018—2025)
9.2 Semi- Luxury Vehicles
9.3 Luxury Vehicles
10 CONVERTIBLE ROOF SYSTEM MARKET BY VEHICLE TYPE, Market Size in USD Million and Units (2018—2025)
10.2 Internal Combustion Engine (ICE)
10.3 Electric Vehicles
11 CONVERTIBLE ROOF SYSTEM MARKET BY REGION, Market Size in USD Million and Units (2018—2025)
11.1 North America
11.2.6 Rest of Europe
11.3.4 South Korea
11.3.5 Rest of Asia-Pacific
11.4 Middle East & Africa
11.4.1 Saudi Arabia
11.4.3 Rest of Middle East & Africa
11.5 South America
11.5.3 Rest of South America
12 COMPETITIVE LANDSCAPE
12.2 Market Ranking/Share Analysis of Key Companies
12.3 Company Benchmarking
13 COMPANY PROFILES
13.1 Webasto Group
13.1.1 Company Overview
13.1.2 Financial Overview
13.1.3 Products/Solutions/Services Offered
13.1.4 Key Developments
13.1.5 SWOT Analysis
13.2 Continental AG
13.3 Magna International Inc.
13.4 Aisin Seiki Co Ltd
13.5 Valmet Automotive.
13.6 Pininfarina SpA
13.7 Standex Int’l Corp.
13.8 The Haartz Corporation
13.9 GAHH, LLC.
14.1 Key Industry Expert Insights
14.2 Primary Discussion Guide
14.3 Customization Options
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