Convertible roof system is used in luxury and semi-luxury vehicles. Convertible roofs provide an open air drive experience with the ability to provide a roof on the top of the vehicle when needed. This system is either operated manually or remotely and is available in different shapes and sizes, depending upon the type of vehicle. The system provides better air circulation along with superior brightness and illumination during daytime. OEMs have started offering roofs made with different materials such as PVC, carbon fiber, and aluminum, which provides a better experience to the driver. The Convertible Roof System Market is influenced by the increase in demand for luxury vehicles and the rise young population who prefer convertible roofs installed in their vehicles.
The increased demand for premium vehicles along with innovations in material used in them is expected to act as a driver for the Convertible Roof System Market. In addition, the increase in penetration of convertible roof systems in SUVs and the craze of convertible roof system vehicles among youngsters is expected to increase the revenue of the players operating in market. However, penetration of panoramic sunroof and lower penetration of convertible roof system in mid-segment vehicles is expected to hamper the growth of the market.
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The factors leading to the increase in the convertible roof system market growth is the increased demand for premium vehicles along with the innovations in material to drive the convertible roof system. Moreover, penetration of panoramic sunroof and lower penetration of convertible roof system in mid-segment vehicles is expected to hamper the growth of the convertible roof system market. However, increasing penetration of convertible roof system in SUVs along with the craze of convertible roof system vehicles among youngsters is expected to increase the revenue of the players operating in convertible roof system market.
The major companies profiled for the convertible roof system market share include Webasto, Magne International, Valmet Automotive, Aisin Seiki, Continental, Pininfarina, Standex International, Hoerbiger, Haartz, and Gahh Automotive. These market players have implemented a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their status in the industry.
The Convertible Roof System Market is segmented into roof top, vehicle class, body, material, propulsion, and region. By roof top, it is bifurcated into hard top and soft top. By vehicle class, it is categorized into luxury vehicles and semi-luxury vehicles. By body, it is classified into sedan, SUVs, and. On the basis of material, it is divided into PVC, carbon fiber, and aluminum. By propulsion, the market is segmented into ICE and EV vehicles. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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KEY BENEFITS FOR STAKEHOLDERS
- This study comprises analytical depiction of the convertible roof system market with current trends and future estimations to depict the imminent investment pockets.
- The overall potential is determined to understand the profitable trends to gain a stronger foothold in the convertible roof system industry.
- The convertible roof system market analysis report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current convertible roof system market forecast is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
KEY MARKET SEGMENTS
By Roof Top
- Hard Top
- Soft Top
By Vehicle Class
- Luxury Class
- Semi-luxury Class
- Poly Vinyl Chloride (PVC)
- Carbon Fiber
Questions answered in the Convertible Roof system Market research report:
- What is the growth rate of the Convertible Roof system Market during the forecast period?
- What will be the global Convertible Roof system market size from 2019 to 2026?
- What are the leading manufacturing companies in the Convertible Roof system Market?
- How the major current trends will shape the market in the future?
- What are the driving factors and opportunities in the Convertible Roof system Market?
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