Convertible Roof System Market Estimated to Record Highest CAGR by 2027

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

Market Drivers:

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.

Market Restraints:

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.
HOERBIGER
Others

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

Detachable
Retractable

Soft-Top Convertible Roofs

Convertible Roof System Market, by Material Type

Polyvinyl chloride (PVC)
Aluminum
Steel
Carbon Fiber Composites
Rubber
Others

Convertible Roof System Market, by Vehicle Body Structure

Sport Utility Vehicle (SUV)
Sedan
Hatchback
Sports car
Others

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
Others

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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 INTRODUCTION

1.1 Research Objectives

1.2 Market Definition

1.3 Research Scope

1.4 Regional Coverage

1.5 Research Timeline

1.6 Assumptions

1.7 Limitations

2 RESEARCH DESIGN & SCOPE

2.1 Introduction

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

4.1 Introduction

4.2 Drivers

4.2.1. Rising Demand for Luxury Vehicles

4.2.2. Increase in R&D Activities for Convertible Roof System

4.3 Restraints

4.3.1 Rising Adoption of Panoramic Sunroof System

4.4 Opportunities

4.4.1 Rising Demand for Convertible Roofs in Sport Utility Vehicle (SUV)

4.5 Challenges

4.5.1 High Maintenance Cost

5 INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS

5.1 Introduction

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)

6.1 Introduction

6.2 Hardtop Convertible Roofs

6.2.1 Detachable

6.2.2 Retractable

6.3 Soft-Top Convertible Roofs

7 CONVERTIBLE ROOF SYSTEM MARKET BY MATERIAL TYPE, Market Size in USD Million and Units (2018—2025)

7.1 Introduction

7.2 Polyvinyl chloride (PVC)

7.3 Aluminum

7.4 Steel

7.5 Carbon Fibre Composites

7.6 Rubber

7.7 Others

8 CONVERTIBLE ROOF SYSTEM MARKET BY VEHICLE BODY STRUCTURE, Market Size in USD Million and Units (2018—2025)

8.1 Introduction

8.2 Sport Utility Vehicle (SUV)

8.3 Sedan

8.4 Hatchback

8.5 Sports car

8.6 Others

9 CONVERTIBLE ROOF SYSTEM MARKET BY VEHICLE-CATEGORY, Market Size in USD Million and Units (2018—2025)

9.1 Introduction

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)

10.1 Introduction

10.2 Internal Combustion Engine (ICE)

10.3 Electric Vehicles

10.4 Others

11 CONVERTIBLE ROOF SYSTEM MARKET BY REGION, Market Size in USD Million and Units (2018—2025)

11.1 North America

11.1.1 US

11.1.2 Canada

11.1.3 Mexico

11.2 Europe

11.2.1 Germany

11.2.2 UK

11.2.3 France

11.2.4 Italy

11.2.5 Spain

11.2.6 Rest of Europe

11.3 Asia-Pacific

11.3.1 China

11.3.2 India

11.3.3 Japan

11.3.4 South Korea

11.3.5 Rest of Asia-Pacific

11.4 Middle East & Africa

11.4.1 Saudi Arabia

11.4.2 UAE

11.4.3 Rest of Middle East & Africa

11.5 South America

11.5.1 Brazil

11.5.2 Argentina

11.5.3 Rest of South America

12 COMPETITIVE LANDSCAPE

12.1 Introduction

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.

13.10 HOERBIGER

13.11 Others

14 APPENDIX

14.1 Key Industry Expert Insights

14.2 Primary Discussion Guide

14.3 Customization Options

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