Convertible Roof System Market
Convertible Roof System Market Size, Share & Trends Analysis Report by Roof Top Type (Hard Top, and Soft Top), by Roof Material, ( Polyvinyl Chloride, Carbon Fiber, and Aluminum), and by Vehicle Type (Hatchback, Sedan, and Sports Utility Vehicle) Forecast Period (2022-2028)
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.
Impact of COVID-19 Pandemic on Global Convertible Roof System Market
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.
Segmental Outlook
The global convertible roof system market is segmented based on the roof top type, roof material, and vehicle type. Based on the roof top type, the market is segmented into hard top, and soft top. Based on the roof material, the market is sub-segmented into polyvinyl chloride (PVC), carbon fiber, and aluminum. Based on the vehicle type, the market is segmented into hatchback, sedan, and sports utility vehicle (SUV). Based on material type, PVC holds the major share in the market owing to its properties such as good shock absorption, fire retardant, rigidity, and others which makes it very useful for the company.
Global Convertible Roof System Market Share by Vehicle Type, 2021 (%)
The Sedan Segment Holds the Major Share in the Global Convertible Roof System Market
Sedan in the vehicle type segments holds the major market share in the convertible roof system market and is anticipated to dominate during the forecast period. One of the core factors that is causing the demand for sedan convertible vehicles is the design of the sedan vehicle which is better for a convertible vehicle than the others. A sedan has a three-box design which allows a convertible roof system to be easily shifted in the cargo of sedan which is difficult in the two-box design of SUV, and hatchback. This causes more and more production of sedan convertible vehicles than others. As per the Mercedes convertible vehicle lineup in 2022, the company’s all convertible vehicles are sedans.
Regional Outlooks
The global Convertible Roof System market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). Europe and North America is the leading market with a major share while the Asia Pacific is the fastest-growing region in the convertible roof system market.
Global Convertible Roof System Market Growth, by Region 2022-2028
The Asia-Pacific is the Fastest Growing Region in the Global Convertible Roof System Market
Asia Pacific region is anticipated to grow fastest in the convertible roof system market during the forecast period. One of the major factors behind the projection is the growing demand for luxury vehicles in the region in the past few years. The presence of emerging countries such as China, India, South Korea, and others have been growing economically, and with a huge population in the region, the demand for luxury vehicles has also been increased which will grow significantly during the forecast period. Most of the major market players of luxury vehicles such as Mercedes-Banz, BMW, and Audi seeing the fastest growth in the Chinese market owing to the largest automotive market globally. These market players posted record sales in 2020 despite the decline in the industry in the previous years. As per the annual reports of 2020, Mercedes-Benz recorded a year-on-year increase of 22.4%, while other carmakers such as BMW and Audi observed increases of 15.4% and 10.6%, respectively.
Market Players Outlook
The major companies serving the global Convertible Roof System market include Continental Automotive GmbH, Magna International Inc., THE HAARTZ CORP., U-Shin Ltd., Webasto SE, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in July 2021, Webasto SE announced its new convertible roof features for BMW 4 Series which can be opened within 18 seconds by touching a button while driving. At the same time, the back covers open to store the convertible roof underneath.
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.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Convertible Roof System Market
• Recovery Scenario of Global Convertible Roof System Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Continental Automotive GmbH
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. Magna International Inc.
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. THE HAARTZ CORP.
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. U-Shin Ltd.
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. Webasto SE
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on Key Players
4. Market Segmentation
4.1. Global Convertible Roof System Market by Roof Top Type
4.1.1. Hard Top
4.1.2. Soft Top
4.2. Global Convertible Roof System Market by Roof Material
4.2.1. Polyvinyl Chloride (PVC)
4.2.2. Carbon Fiber
4.2.3. Aluminum
4.3. Global Convertible Roof System Market by Vehicle Type
4.3.1. Hatchback
4.3.2. Sedan
4.3.3. Sports Utility Vehicle (SUV)
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Aisin Seiki Co.
6.2. GAHH, LLC.
6.3. HOERBIGER
6.4. Pininfarina S. p. A.
6.5. Standex International Corp.
6.6. Valmet Automotive Inc.
1. GLOBAL CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY ROOF TOP TYPE, 2021-2028 ($ MILLION)
2. GLOBAL HARD TOP OF CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL SOFT TOP OF CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY ROOF MATERIAL, 2021-2028 ($ MILLION)
5. GLOBAL POLYVINYL CHLORIDE (PVC) CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL CARBON FIBER CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL ALUMINUM CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
9. GLOBAL CONVERTIBLE ROOF SYSTEM FOR HATCHBACK MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL CONVERTIBLE ROOF SYSTEM FOR SEDAN MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL CONVERTIBLE ROOF SYSTEM FOR SPORTS UTILITY VEHICLE (SUV) MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
13. NORTH AMERICAN CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
14. NORTH AMERICAN CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY ROOF TOP TYPE, 2021-2028 ($ MILLION)
15. NORTH AMERICAN CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY ROOF MATERIAL, 2021-2028 ($ MILLION)
16. NORTH AMERICAN CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
17. EUROPEAN CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
18. EUROPEAN CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY ROOF TOP TYPE, 2021-2028 ($ MILLION)
19. EUROPEAN CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY ROOF MATERIAL, 2021-2028 ($ MILLION)
20. EUROPEAN CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
21. ASIA-PACIFIC CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
22. ASIA-PACIFIC CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY ROOF TOP TYPE, 2021-2028 ($ MILLION)
23. ASIA-PACIFIC CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY ROOF MATERIAL, 2021-2028 ($ MILLION)
24. ASIA-PACIFIC CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
25. REST OF THE WORLD CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
26. REST OF THE WORLD CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY ROOF TOP TYPE, 2021-2028 ($ MILLION)
27. REST OF THE WORLD CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY ROOF MATERIAL, 2021-2028 ($ MILLION)
28. REST OF THE WORLD CONVERTIBLE ROOF SYSTEM MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL CONVERTIBLE ROOF SYSTEM MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL CONVERTIBLE ROOF SYSTEM MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL CONVERTIBLE ROOF SYSTEM MARKET, 2022-2028 (%)
4. GLOBAL CONVERTIBLE ROOF SYSTEM MARKET SHARE BY ROOF TOP TYPE, 2021 VS 2028 (%)
5. GLOBAL HARD TOP OF CONVERTIBLE ROOF SYSTEM MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL SOFT TOP OF CONVERTIBLE ROOF SYSTEM MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL CONVERTIBLE ROOF SYSTEM MARKET SHARE BY ROOF MATERIAL, 2021 VS 2028 (%)
8. GLOBAL POLYVINYL CHLORIDE (PVC) CONVERTIBLE ROOF SYSTEM MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL CARBON FIBER CONVERTIBLE ROOF SYSTEM MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL ALUMINUM CONVERTIBLE ROOF SYSTEM MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
11. GLOBAL CONVERTIBLE ROOF SYSTEM MARKET SHARE BY VEHICLE TYPE, 2021 VS 2028 (%)
12. GLOBAL CONVERTIBLE ROOF SYSTEM FOR HATCHBACK MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
13. GLOBAL CONVERTIBLE ROOF SYSTEM FOR SEDAN MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
14. GLOBAL CONVERTIBLE ROOF SYSTEM FOR SPORTS UTILITY VEHICLE (SUV) MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
15. GLOBAL CONVERTIBLE ROOF SYSTEM MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
16. US CONVERTIBLE ROOF SYSTEM MARKET SIZE, 2021-2028 ($ MILLION)
17. CANADA CONVERTIBLE ROOF SYSTEM MARKET SIZE, 2021-2028 ($ MILLION)
18. UK CONVERTIBLE ROOF SYSTEM MARKET SIZE, 2021-2028 ($ MILLION)
19. FRANCE CONVERTIBLE ROOF SYSTEM MARKET SIZE, 2021-2028 ($ MILLION)
20. GERMANY CONVERTIBLE ROOF SYSTEM MARKET SIZE, 2021-2028 ($ MILLION)
21. ITALY CONVERTIBLE ROOF SYSTEM MARKET SIZE, 2021-2028 ($ MILLION)
22. SPAIN CONVERTIBLE ROOF SYSTEM MARKET SIZE, 2021-2028 ($ MILLION)
23. REST OF EUROPE CONVERTIBLE ROOF SYSTEM MARKET SIZE, 2021-2028 ($ MILLION)
24. INDIA CONVERTIBLE ROOF SYSTEM MARKET SIZE, 2021-2028 ($ MILLION)
25. CHINA CONVERTIBLE ROOF SYSTEM MARKET SIZE, 2021-2028 ($ MILLION)
26. JAPAN CONVERTIBLE ROOF SYSTEM MARKET SIZE, 2021-2028 ($ MILLION)
27. SOUTH KOREA CONVERTIBLE ROOF SYSTEM MARKET SIZE, 2021-2028 ($ MILLION)
28. REST OF ASIA-PACIFIC CONVERTIBLE ROOF SYSTEM MARKET SIZE, 2021-2028 ($ MILLION)
29. REST OF THE WORLD CONVERTIBLE ROOF SYSTEM MARKET SIZE, 2021-2028 ($ MILLION)
