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The Convertible Roof System Market has been segmented on the basis of Roof System Component Types (Roof Material, Roof Drive System (Motors), Other Roof System Component Types), Roof Top Type (Hard Top, Soft Top), Vehicle Type (Hatchback, SUV, Sedan), and Geography.
Fastest Growing Market:
The global convertible roof system market is anticipated to register a CAGR of over 7.60%, during the forecast period (2020 – 2025).
The global convertible roof system market has been segmented on the basis of roof system components, roof top types, vehicle types, and geography.
|Roof System Components Type|
|Roof Drive System (Motors)|
|Other Roof System Component Types (Supporting Frames, etc.)|
|Roof Top Type|
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There have been consistent evaluations and innovations in the market studied, which were undertaken to improve ease and comfort. For instance, BMW is one of the major luxury car makers that has launched its i8 Roadster, the latest plug-in-hybrid convertible sports car.
Webasto is one of the major players in the convertible roof system market. The company is expanding its convertible roof business by opening a new plant in Mexico. The Mexican plant is an important textile competence center for Webasto’s convertible business unit. Presently, the company is manufacturing the soft top for the VW Beetle and the aftermarket roof for the Jeep ThrowBack, as well as all textile components for the North American market.
The convertible roof system market is dominated by Sedan, followed by Hatchback. However, currently, the convertible roof system in the SUVs is garnering interest among people. For instance, Land Rover expects the convertible to hold approximately 15% of Evoque's global volume, which is nearly 20,000 units. The convertible may be sold in 170 countries. Land Rover expects the United Kingdom, Germany, and the United States to be the best markets for the car.
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The convertible market is expected to grow over the forecast period. This system is majorly used in luxury vehicles, and the demand for luxury vehicles is high in countries like the United States, Canada, France, the United Kingdom, Germany, Spain, and some countries in the Middle East and Asia-Pacific. The United States is one of the largest automotive markets in the world and is home to over 13 major auto manufacturers.
Additionally, China and Germany are the major hubs for technological advancement in automotive, leading to a significant expansion of the luxury vehicles market.
Currently, Europe accounted for the most significant share in the convertible roof system market, by value and volume. The Asia-Pacific region is projected to register a high CAGR, during the forecast period. Emerging economies, such as China and India, are expected to play significant roles in increasing vehicle production. Also, the increasing installation of convertible roof systems in vehicles, such as sedans/hatchbacks and SUVs, is driving the market in the Asia-Pacific region.
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The convertible roof system market is majorly dominated by Webasto, Magna International, Valmet Automotive, Aisin Seiki, and Continental AG, among others. The companies are expanding their businesses by launching new products and by acquiring new businesses. For instance:
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Roof System Components Type
5.1.1 Roof Material
184.108.40.206 Polyvinyl Chloride (PVC)
220.127.116.11 Carbon Fiber
18.104.22.168 Other Roof Materials
5.1.2 Roof Drive System (Motors)
5.1.3 Other Roof System Component Types (Supporting Frames, etc.)
5.2 Roof Top Type
5.2.1 Hard Top
5.2.2 Soft Top
5.3 Vehicle Type
5.4.1 North America
22.214.171.124 United States
126.96.36.199 Rest of North America
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 Rest of Asia-Pacific
5.4.4 Rest of the World
18.104.22.168 South America
22.214.171.124 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Webasto Group
6.2.2 Magna International
6.2.3 Valmet Corp
6.2.4 Haartz Corporation
6.2.5 Continental AG
6.2.6 Hoerbiger Holding
6.2.7 U-Shin Ltd
6.2.8 GAHH LLC
6.2.9 Aisin Seiki
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability