The global convertible rooftop system market is foreseen to enlist a CAGR of over 7.60%, during the estimated time frame (2020 – 2025).
Convertible rooftop system is utilized in extravagance and semi-luxury automobiles. Convertible roofs furnish an open-air drive involvement in the capacity to give a rooftop on the highest point of the vehicle when required. This framework is either worked manually or remotely and is accessible in various shapes and sizes, depending upon the sort of automobile. The structure furnishes better airflow alongside prevalent superior brightness and light during daytime.
During the estimated time frame, the convertible rooftop framework in SUVs is probably going to observe an impressive development, as barely any automakers want to sell their SUV models, with convertible rooftop highlights, across different nations. The expanding interest for premium automobiles is significantly driving the interest for convertible rooftop systems. Moreover, the progression in material innovation and the developing inclinations of the shoppers for convertible rooftop frameworks, in the developing nations, are additionally triggering the interest for convertible rooftop frameworks.
The soft top that Webasto intended for the Range Rover Evoque is the world's first SUV convertible in the extravagance reduced class. So as to make such rooftops, they are persistently building up convertible rooftop frameworks as per the prerequisites of the worldwide market, clients and the vehicle industry. Innovations and patterns drive further advancements. Presently, they are growing new rooftop ideas for hybrid and electric convertibles.
The Webasto Group, a worldwide vehicle provider of rooftop and heating frameworks, has agreed with the vendor of Wilhelm Karmann GmbH i.I., Ottmar Herrmann, on a takeover of Karmann's convertible rooftop business in the USA and Mexico.
The latest Bentley Continental GT Convertible sets new models in craftsmanship, class and style. Planned and worked by hand at the Bentley manufacturing plant in England, it takes the happiness of open-air grand visiting to exciting latest statures.
The long stretches of eyeballing the best substitution soft-top convertible material are gone. In essence, the Haartz Corporation as of late refreshed it's "locate Your Top" database to guarantee drivers keep it unique by coordinating clients with their accurate OEM soft-top convertible material.
Drivers and Restraints of Convertible Roof System Market:
Many convertibles can simply be transformed back into a coupe or sedan with the press of a button, creating it versatile. These variables are driving the convertible rooftop system market for vehicles. The grown interest for luxury automobiles alongside technology in material utilized in them is likely to act as a driver for the global convertible rooftop system market. Additionally, the rise in penetration of convertible rooftop frameworks in SUVs and the demand for these systems in automobiles, especially among youngsters, is projected to increment the income of the players accounting in the market.
The expense and structural strength of the convertibles are major limitations of the convertible rooftop system market for a vehicle. Moreover, penetration of panoramic sunroof and reduced infiltration of convertible rooftop system in mid-sector automobiles is likely to restrict the expansion of the market.
Carbon fiber is efficiently utilized, as it lends flexibility and hardness to the roofs of automobiles. In an electric car, power electronics takes direct current (DC) from the battery and transforms it to alternating current (AC) and transfers it to the engine. The electric engine uses the AC to develop torque (mechanical force) to boost the wheels. HEVs use two electrical devices; one is a generator attached to the motor, and the other is an engine to drive the wheels. Each of these devices is connected to an inverter, and the two inverters operate at an increased voltage than the battery.
By Roof Top:
The hard roof is not such sturdy like steel but provides convenience to the users. This segment is foreseen to account for a notable portion of the global business in the coming years.
By Vehicle Type:
Customers are increasingly looking for extravagant vehicles due to their efficiency and advanced technology. Sedan convertible vehicles are more preferred as extravagance vehicle sector, which are supposed to witness tremendous growth rate in the outlook period.
Convertible Roof System Market Region-wise analysis:
Marked Segmentation based on the region:
a. Middle East
The United States is one of the biggest vehicle markets in the world and is home to over 13 main auto producers. Europe is predicted to lead the worldwide convertible rooftop system market due to trend of incorporating further highlights for enhancing convenience and driving experience in the vehicle segment. Increasing luxury automobile sales in this area is also projected to drive the global convertible rooftop system market. Furthermore, the area is a group for vehicle titans and luxury automobiles. The Asia-Pacific area is predicted to enroll an increased CAGR, during the estimated time frame. Developing revenues, for example, China and India are likely to play important roles in the rising automobile manufacture. Furthermore, the high installation of convertible rooftop systems in automobiles, for example, sedans/hatchbacks and SUVs, is driving the market in the Asia-Pacific area.
Key Players of Market:
The key players for the convertible rooftop system market are Webasto, Magne International, Valmet Automotive, Aisin Seiki, Continental, Pininfarina, Standex International, Hoerbiger, Haartz, and Gahh Automotive.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Convertible Roof Top System Market, By Component
6.1.1 Roof Material
6.1.2 Roof Drive System
6.1.3 Carbon Fiber
6.1.4 Polyvinyl Chloride (PVC)
6.1.5 Market Size Estimations & Forecasts (2019-2024)
6.1.6 Y-o-Y Growth Rate Analysis
6.1.7 Market Attractiveness Index
6.2 Convertible Roof Top System Market, By Rooftop
6.2.3 Market Size Estimations & Forecasts (2019-2024)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Convertible Roof Top System Market, By Vehicle
6.3.4 Market Size Estimations & Forecasts (2019-2024)
6.3.5 Y-o-Y Growth Rate Analysis
6.3.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Component
7.2.3 By Rooftop
7.2.4 By Vehicle
7.3.1 By Country
22.214.171.124 Rest of Europe
7.3.2 By Component
7.3.3 By Rooftop
7.3.4 By Vehicle
7.4 Asia Pacific
7.4.1 By Country
126.96.36.199 South Korea
188.8.131.52 South East Asia
184.108.40.206 Australia & NZ
220.127.116.11 Rest of Asia-Pacific
7.4.2 By Component
7.4.3 By Rooftop
7.4.4 By Vehicle
7.5 Latin America
7.5.1 By Country
18.104.22.168 Rest of Latin America
7.5.2 By Component
7.5.3 By Rooftop
7.5.4 By Vehicle
7.6 Middle East and Africa
7.6.1 By Country
22.214.171.124 Middle East
7.6.2 By Component
7.6.3 By Rooftop
7.6.4 By Vehicle
8. Key Player Analysis
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Magne International
8.3 Valmet Automotive
8.4 Aisin Seiki
8.5 Continental AG
8.7 Standex International
8.10 Gahh Automotive
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures