Automotive Convertible Roof System Market Type and Geography - Forecast and Analysis 2021-2025

The automotive convertible roof system market share is expected to increase by USD 508.85 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5.89%.

The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the market segmentation by type (soft top and hard top) and geography (Europe, North America, APAC, South America, and MEA).

The automotive convertible roof system market report also offers information on several market vendors, including Aisin Seiki Co. Ltd., CIE Automotive SA, Continental AG, GAHH LLC, HOERBIGER Holding AG, Magna International Inc., Pininfarina Spa, Standex International Corp., Valmet Automotive Inc., and Webasto SE among others.

Aisin Seiki Co. Ltd. - The company offers convertible roof systems as a part of body-related products. The AISIN Seiki Group segment manufactures automotive parts, lifestyle, and energy-related products, construction and engineering-related products, and oils.

What will the Automotive Convertible Roof System Market Size be During the Forecast Period?

Get the Automotive Convertible Roof System Market Size Forecast by Downloading the Report Sample

Parent Market Analysis

Technavio categorizes the global automotive convertible roof system market as a part of the global auto components and accessories market. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive convertible roof system market during the forecast period.

Automotive Convertible Roof System Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The growing demand for the convertible feature in utility vehicles is notably driving the automotive convertible roof system market growth, although factors such as the high cost associated with automotive convertible roof systems may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Automotive Convertible Roof System Market Driver

• One of the key factors driving growth in the automotive convertible roof system market is the growing demand for the convertible feature in utility vehicles
• In recent years, utility vehicles are contributing significantly to the global demand for automotive convertible roof systems. Hence, the growing adoption of utility vehicles, such as SUVs and crossover vehicles, across the world is acting as a crucial factor that drives the growth of the market. SUVs are preferred vehicles for off-roading and are convenient to be driven in city traffic conditions.
• The aftermarket fitment of automotive convertible roof systems is also increasing among utility vehicle customers in the developed regions as the vendors offering aftermarket fitments have a strong presence in these regions. This is driving the growth of the market. 

Key Automotive Convertible Roof System Market Challenge

• The high cost associated with automotive convertible roof systems will be a major challenge for the automotive convertible roof system market during the forecast period. 
• Although automotive convertible roof systems have been around for decades, their adoption is dependent on the price as automotive OEMs are facing cost pressure, owing to the highly competitive nature of the automotive industry. 
• Price-sensitive customers in emerging economies cannot afford the premium price of automotive convertible roof systems. Hence, the launch of convertible models by automotive OEMs is comparatively less in these economies. This is a challenge for the growth of the global automotive convertible roof system market. 
• The high cost acts as a barrier to the wide adoption of convertible roof features in the automotive industry, which is inhibiting the growth of the global automotive convertible roof system market. 

This automotive convertible roof system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Automotive Convertible Roof System Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the automotive convertible roof system market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for Automotive Convertible Roof System Market?

Get a glance at the market share of various regions by Requesting a PDF Sample now!

33% of the market’s growth will originate from Europe during the forecast period. Germany, UK and France are the key markets for automotive convertible roof systems in Europe. Market growth in this region will be slower than the growth of the market in other regions. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What is the Fastest-Growing Type Segment in the Automotive Convertible Roof System Market?

To gain insights on the market contribution of various segments Request a PDF Sample

The automotive convertible roof system market share growth by the soft top segment will be significant during the forecast period. A soft-top convertible roof system is a roof system made of fabrics. It is a cost-effective yet convenient option available for an open-air experience in a vehicle. Soft tops give a wider field of vision compared with hard tops. Additionally, a soft-top convertible system reduces the weight of the vehicle significantly compared with a hard-top convertible system. A soft-top convertible system also increases storage space as it takes less space in the trunk. Hence, soft tops are highly preferred by automotive OEMs and individual customers.

This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive convertible roof system market size and actionable market insights on the post-COVID-19 impact on each segment. 

Request PDF sample

What are the Key Data Covered in this Automotive Convertible Roof System Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive automotive convertible roof system market growth during the next five years
• Precise estimation of the automotive convertible roof system market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the automotive convertible roof system market industry across Europe, North America, APAC, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive analysis of factors that will challenge the growth of automotive convertible roof system market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch