The global automotive sun visor market, according to the analysis by Market Research Future (MRFR), is slated to reach a substantial market valuation at a moderate CAGR over the forecast period.
Drivers and Restraints
The global automotive sun visor market is slated to witness significant growth during the study period. The growing number of manufacturers who are integrating simple and economical visor components to protect against dazzle in vehicles, the shifting focus by consumers and automotive OEMs on vehicle and driver safety are playing an important role in the growth of this market. The factors fuelling the growth of this market are increasing sales and production of vehicles across the globe, improving traffic flow, and rising need for vehicle and driver safety. The absence of standard protocols for the development of automotive sun visors and intricate design of the system is considered as a key restraining factor of this market.
On the other hand, growing demand for electric vehicles across the globe, improving the economic dynamics of emerging nations are providing potential opportunities for the growth of the automotive sector, in turn, driving this market. Despite such issues, sun visors are estimated to remain a popular automotive part. The rise of electric vehicles making way for new avenues for sun visors. There has been a considerable rise in several manufacturers. Many of them are starting a more diverse variety, giving more options to choose from for their clients. New materials are being utilized to develop sun visors. However, metals, molded substrates, plastics, and fabrics are popular options among consumers. Producers are also focusing on making their products multi-faceted by combining other components such as lights, flaps, electric cable, mirror, frame, padding, among others.
The growing sale of the vehicle all over the world is having a positive influence on the global demand for the automotive sun visor. At the same time, favorable business conditions, stable growth of the automotive sector, developing designs of automobiles have contributed to the growth of the market in recent years, and this trend is expected to surge over the review period.
The global market for Automotive Sun Visor is segmented on the basis of material, type, vehicle type, propulsion. Based on type, the market has been bifurcated into LCD and Conventional sun visor. Based on content, the global Automotive Sun Visor market has been segmented into fabric, vinyl, and others. Based on vehicle type, the Automotive Sun Visor market has been bifurcated into passenger cars and commercial vehicles. Based on propulsion, the demand for automotive sun visor has been segmented into ICE and electric vehicles. Based on sales channel, the market has been divided into OEM and Aftermarket.
Geologically, the global automotive sun visor has been studied in four major regions, including Asia-Pacific, North America, Europe, and the Rest of the World. The Asia-Pacific region is slated to hold the largest market share during the forecast period owing to the growing population, increasing vehicle penetration across countries, and changing lifestyle choices of consumers. Additionally, increased usage of electrification in vehicles is expected to boost the demand for automotive sun visor as it protects the electric equipment in cars. Additionally, the increase in demand for safety features in vehicles and rising investments by public and private players to fuel the expansion of the automobile sector are contributing to the growth of this market in this region over the review period.
The major market players in the global automotive sun visor include GUMOTEX (Chez Republic), Irvin Automotive Products, Inc (US), FOMPAK (Turkey), GRIOS s.r.o. (Czech Republic), Atlas Holding (US), Grupo Antolin (Spain), KASAI KOGYO CO., LTD. (Japan), OTOTRIM Sanayi ve Ticaret A.Ş. Panel (Turkey), HOWA TEXTILE INDUSTRY CO., LTD. (Japan), and KB Foam Inc. (US).