LONDON, April 16, 2018 /PRNewswire/ -- Increasing sales
of premium vehicles in developed regions and the growing demand for
electric and hybrid vehicles across the globe to fuel the
convertible roof system market.
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The global convertible roof system market is projected to grow at a
CAGR of 6.77%, from 2018 to 2025, to reach USD 2.11 billion by 2025 from USD 1.33 billion in 2018. The major factors
driving the growth of the market include advances in material
technology and increasing consumer preference for convertible roof
systems. On the other hand, difficulty in meeting government fuel
efficiency norms and high costs of regular maintenance may pose
challenges to the growth of the convertible roof system market.
The SUV segment is estimated to grow at the fastest pace.
The convertible roof system market for SUVs, by volume, is
estimated to grow at the highest rate during the forecast period.
The growth of the convertible roof system market can be attributed
to the increased production and demand for SUVs across the
globe.
Increasing demand for premium vehicles and comfort features would
drive the convertible roof system market in Europe.
Europe is estimated to account for
the largest share, by value and volume, of the convertible roof
system market in 2018.Also, in terms of growth, the market in
Asia Pacific is projected to grow
at the highest CAGR, during the forecast period.
Developing economies such as China
and India are expected to play a
major role in the increase in vehicle production in the region.
Also, the increasing installation of convertible roof systems in
vehicles such as SUVs and sedans/hatchbacks would drive the demand
for convertible roof systems.
The study contains insights of various industry experts, ranging
from component suppliers to tier 1 companies and OEMs. The break-up
of the primaries is as follows:
• By Company Type: Tier 1- 42%, Tier 2- 40%, OEM- 18%
• By Designation: C-level- 57%, D-level- 29%, Others- 14%
• By Region: North America- 28%,
Europe- 27%, Asia Pacific- 34%, RoW- 11%
The major players profiled in the report are:
o Webasto (US)
o Magna International (Canada)
o Valmet Automotive (Finland)
o Aisin Seiki (Japan)
o Continental (Germany)
o Pininfarina (Italy)
o Standex International (US)
o Hoerbiger (Switzerland)
o Haartz (US)
o GAHH Automotive (US)
Research Coverage:
The report segments the convertible roof system market and
forecasts its size, by volume and value, on the basis of region
(Asia Pacific, Europe, North
America, and RoW), electric vehicle type (BEV, HEV, PHEV,
and FCEV), body style type (sedan/hatchback, SUV, and
roadster/sports car), material type (PVC, carbon fiber, aluminum,
and others), vehicle class type (luxury vehicles and semi-luxury
vehicles), roof top type (hardtop and soft top), and propulsion
type (ICE and EV).
Reasons to Buy the Report:
This report contains various levels of analyses, including industry
analyses, competitive leadership mapping, and company profiles,
which together offer the basic views on the emerging and
high-growth segments of the convertible roof system market;
high-growth regions and countries; government initiatives; and
market dynamics such as drivers, restraints, opportunities, and
challenges.
The report enables new entrants and smaller firms as well as
established firms to understand the market better to help them
acquire a larger market share. Firms purchasing the report could
use any one or a combination of the below-mentioned four strategies
(market development, product development/innovation, market
diversification, and competitive assessment) to strengthen their
positions in the market.
The report provides insights into the following points:
• Market Penetration: The report offers comprehensive information
about the convertible roof system market and the top 10 players in
the market.
• Product Development/Innovation: The report provides detailed
insights into upcoming technologies and new product launches in the
convertible roof system market.
• Market Development: The report analyzes the market for
convertible roof systems across regions and provides comprehensive
information about lucrative emerging markets.
• Market Diversification: The report provides exhaustive
information about new products, untapped regional markets, recent
developments, and investments in the convertible roof system
market.
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https://www.reportbuyer.com/product/5377123
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