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The automotive window power sunshade market size is estimated to grow at a CAGR of 15.74% between 2022 and 2027. The market size is forecast to increase by USD 1,396.61 million. The growth of the market depends on several factors such as window-power sunshades maximizing HVAC efficiency, more time spent inside vehicles pushing demand for window-power sunshades, and the growing popularity of luxury cars.
This automotive window power sunshade market report extensively covers market segmentation by application (luxury passenger vehicle and mid-size passenger vehicle), product (conventional sunshade and LCD sunshade), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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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.
Window power sunshades maximizing HVAC efficiency is one of the key factors driving the automotive window power sunshade market growth. HVAC stands for heating, ventilation, and air conditioning (HVAC) which can be referred to as a technology used to maintain good air quality and deliver thermal comfort through adequate ventilation inside vehicles. There is increasing adoption of window power sunshades across several vehicles due to its several benefits such as reducing the glare from the sun's rays and heat transfer into the interior of the vehicle.
As a result, it results in a decline in the adoption of HVAC systems and hence, decreases the cost incurred by the HVAC system. The main advantage of window power sunshades is that it offers a more comfortable interior environment and decrease the interior cooling need of the HVAC system. Hence, such factors are expected to drive market growth during the forecast period.
A key factor shaping the automotive window power sunshade market growth is the growing popularity of power sunshades in sunroof applications. There is an increasing demand for advanced sunroofs such as panoramic sunroofs in the automotive market. Earlier, the panoramic sunroofs were part of high-end variants but now it is also integrated with mid-size passenger vehicles. In addition, sunroofs have become an essential aspect that enhances the aesthetic feature of the passenger cars thereby attracting the customer.
Thus, there is a standardization of sunroofs by several automotive OEMs fuelling their adoption in mid-segment and entry-level passenger vehicles. Furthermore, many modern sunroofs are equipped with power sunshades that help to prevent sunlight and ultraviolet (UV) rays from entering the vehicle. Hence, such factors are expected to drive market growth during the forecast period.
The slowdown in automobile sales in developed countries is one of the key challenges hindering the automotive window power sunshade market growth. The growth of the global automotive window power sunshade market high relies on the demand for automobiles in the global market. Hence, the decline production of automobiles in several countries can negatively impact the market.
Moreover, the outbreak of the pandemic has forced several prominent manufacturers and automotive OEMs in North America and Europe to shut down their operations which in turn resulted in a decline in revenue generated from the global automotive industry. Therefore, the decline in demand for automotive led to a decline in demand for automotive window power sunshades which in turn hinders the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Automotive Window Power Sunshade Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Ashimori Industry Co. Ltd: The company offers automotive window power sunshades, including manual and electric sunshades, for passenger cars and commercial vehicles.
The research report also includes detailed analyses of the competitive landscape of the market and information about 11 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The luxury passenger vehicle segment is estimated to witness significant growth during the forecast period. There are several advanced features for the luxury passenger vehicle segment in terms of comfort, safety, and ride quality. Several automotive manufacturers initially launch their advanced innovative features in this segment and then eventually integrate them into the mid-size and entry-level passenger vehicle segments. This strategy is fuelled by the low-price sensitivity of the target customer base, which offers numerous opportunities for OEMs to experiment with new technologies without stressing their commercial viability.
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The luxury passenger vehicle segment was the largest segment and was valued at USD 669.06 million in 2017. Additionally, this segment leverages the market skimming approach by which most OEMs provide advanced features, coupled with essential features, at a premium price. Furthermore, this segment is equipped with high-quality equipment, precise design, improved performance, comfort, and advanced technological innovations compared with other segments. Thus the increasing sales of the luxury segment offered by OEMs is positively impacting the market growth. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. There is an increasing preference for personal transport among the US population. As a result, there is increasing adoption of technologies that offer comfort, thereby fuelling the market for automotive window power sunshades. The rising adoption of automotive window power sunroofs is mainly fuelled by the increase in the sales of luxury vehicles and the government measures that are aimed at the development of the automotive component industry.
Furthermore, another growing automotive hub in North America is Mexico. Some of the key factors which are significantly fuelling the demand for luxury cars in the US is the increased adoption by the senior population and the high disposable income of individuals. Some of the prominent luxury car segments in the US include BMW, Mercedes-Benz as well as Tesla. Hence, such factors are expected to drive market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global automotive window power sunshade market witnessed a significant slowdown due to the temporary closure of automotive production facilities as well as a decline in automobiles in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restoration of operations in manufacturing units. Such factors are expected to drive the market during the forecast period.
The automotive window power sunshade market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Automotive Window Power Sunshade Market Scope |
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Report Coverage |
Details |
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Page number |
152 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 15.74% |
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Market growth 2023-2027 |
USD 1,396.61 million |
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Market structure |
Concentrated |
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YoY growth 2022-2023(%) |
15.36 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 40% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Ashimori Industry Co. Ltd., BOS GmbH and Co. KG, CIE Automotive SA, Eclipse SunShades, Honda Motor Co. Ltd., Inalfa Roof Systems Group B.V., Inteva Products LLC, KK Motors Inc., MACAUTO INDUSTRIAL Co. Ltd., Vaccess India Pvt. Ltd., and Webasto SE |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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