The global convertible roof system market is set to grow at a significant CAGR during the forecast period. Convertible roof tops are highly popular in areas with warm weather and more preferably in cold weather areas. With the constant change in climatic conditions, convertible roof tops have a vital role to play.
At present, the convertible roof tops are automatic by nature since read sensors play an important role in accomplishing push and pull operations. Mechanical operations were earlier used in older convertible cars to fulfil push and pull operations. Since, this method was less feasible, motors were later added to open and close the roof. With the time lapse, READ sensors are now added to perform open and close actions successfully.
Convertible roof system market is driven by rise in demand for standard vehicles and rise in consumer preference for convertible roof systems in automotive. In addition, the market is influenced by advances in sensor technology and ongoing innovations in material technology. Moreover, rising rate of automotive manufacturing is likely to demand convertible roof systems leading to a robust look and feel.
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By rooftop, the convertible roof system market segmentation comprises soft top and hardtop. Vehicle class segmentation comprises luxury and semi-luxury. Body segmentation for market comprises SUV, Sedan and Roadster. Material category for market includes carbon, fibre, aluminium and PVC. By propulsion, the market segmentation comprises ICE and EV.
Geographical segmentation for the market spans North America, South America, Europe, Asia-Pacific, Middle East and Africa. Europe market is set to grow at a significant CAGR during the forecast period owing to larger revenue share and high market accessibility. Asia-Pacific regions are at the foremost in the international market scenario due to presence of key players and massive automotive units. Rise in demand for SUV and hatchbacks is driving the APAC market growth.
North America occupies a larger market share during the forecast period owing to presence of auto workshops that deal in the business of modified auto body parts followed by rise in demand for OEM. The key players profiled in the convertible roof system market report are Webasto, Magna International, Valmet Automotive, Toyota, General Motors and Honda.
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