Convertible Roof System market is anticipated to grow at a significant CAGR of 3.9% during the forecast period. One of the crucial factors that are fueling the market is the growing technology and its demands. Technology has been growing exponentially over the years, and in the past few years, competitiveness in the market has fuelled it a lot to attract customers. Market players in the vehicle industries, which were once given only basic features, are offering advanced features such as ADAS, sunroof, navigation, and others. This indicates the potential growth in the convertible roof system market in the upcoming year as the market players have started to offer a convertible roof to the consumers at a reasonable price to have an edge over other market players. For instance, in June 2021, BMW launched three new cars in India including MINI Convertible at $59,043 in the Indian vehicle market.
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The COVID-19 pandemic had impacted most industries owing to the contagiousness of the virus. This led most of the governments to implement the nationwide lockdown to spread the virus. This restricted most of the industries’ productions including convertible roof systems. For instance, as per the 2020 annual report of the Webasto SE, sales of the company reduced to $3,734.4 million which was $4,187 million in 2019. But as the situation became normal the company’s sales grew exponentially. As per the company’s report in May 2021, the first quarter of 2021 was the strongest in comparison to the previous five years’ sales.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Convertible Roof System Market by Roof Top Type
- Hard Top
- Soft Top
Global Convertible Roof System Market by Roof Material
- Polyvinyl Chloride (PVC)
- Carbon Fiber
- Aluminum
Global Convertible Roof System Market by Vehicle Type
- Hatchback
- Sedan
- Sports Utility Vehicle (SUV)
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Aisin Seiki Co.
- GAHH, LLC.
- HOERBIGER
- Pininfarina S. p. A.
- Standex International Corp.
- Valmet Automotive Inc.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global convertible roof system market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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