APAC automotive roof systems market to record 4.4% CAGR over 2023-28, forecasts GlobalData

The market for automotive roof systems is expanding due to advancements in material technology, rising premium vehicle demand, and increasing consumer preference for advanced roof systems in developing countries. Additionally, rising automotive vehicle sales and the gradual increase in the use of solar sunroofs in electric vehicles (EVs) globally are expected to open new markets for the automotive roof system industry. Against this backdrop, the automotive roof system market in Asia-Pacific (APAC) is estimated to increase at a compound annual growth rate (CAGR) of 4.4% over 2023-28, according to GlobalData, a leading data and analytics company.

GlobalData’s latest report “Global Sector Overview & Forecast – Automotive Roof Systems” reveals that APAC’s automotive roof systems market is estimated to reach 19.5 million units in 2023 and 24.2 million units in 2028.

Lucy Tripathi, Senior Automotive Analyst at GlobalData, comments: “Retractable rooftops are becoming more popular due to several driving factors brought about by technological advancements. As retractable rooftops are expensive due to their intricate design, the global automotive roof systems market benefits from the additional revenue generated by the vehicles featuring such rooftops. As automakers expand the range of vehicles they offer with retractable rooftops, the market for automotive retractable rooftops is growing annually. Modern roof designs are more dynamic and adaptable, which improves an automobile’s visual appeal.”

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The demand for automotive roof systems is also being fueled by advancements in product development, such as the creation of foldable roof designs and convertible rooftop designs in luxury cars, which are drawing in a wide range of customers. Although electrically powered convertible roof systems are the norm for high-end cars, manufacturers are always striving to create systems that are lighter, more compact, and more affordable.

The market for convertible roof systems is anticipated to be driven by the rise in demand for high-end luxury cars in the APAC region. The current state of material technology advancements combined with rising customer expectations for a higher degree of comfort in their vehicles is expected to propel the convertible vehicle market in the region. 

Tripathi concludes: “Combining smart technologies with solar panels and electrochromic glass opens new possibilities for energy production and improved user experiences. Better electronics and sensor technologies are being introduced by several businesses into their product lineups, enabling passengers to purchase customized cars with less effort on their part.”

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