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Automotive Convertible Top Market Size, Share & Industry Analysis, By Rooftop Type (Hard Top, Soft Top), By Material Type (Carbon Fibre, Aluminium, Polyvinyl Chloride (PVC), Others), By Vehicle Type (Hatchback, Sedan, SUV) and Regional Forecast 2022-2029

Region : Global | Report ID: FBI103645 | Status : Ongoing

 

KEY MARKET INSIGHTS

Automotive convertible top is a foldable roof that can be open as per the requirement. The convertible top system is mostly used in luxury cars. This system is either operated remotely or manually, and is available in different sizes and shapes depending upon the models and types of vehicles. Globally, the rise in disposable income, changing preferences of people and increasing inclination towards luxury and high end technology in automotive is leading to the growth in the automotive convertible top market. Moreover, the prominent luxury car manufacturing companies are spending high percentage to adopt advanced technology and develop innovative systems in vehicles to provide their customers-technologically equipped and latest version of vehicles. The rapid penetration of convertible top system in vehicles and the increasing craze among the young generation is expected to propel the growth of the market.


Globally, the rising standard of living, high disposable income and the increasing craze for convertible roof among young generation are driving the growth of the market. On the contrary, the high installation cost, reduced structural rigidity, and high penetration of panoramic sunroofs may hamper the growth of the market.


Key Market Driver -

Rising craze for convertible roofs, increase in the spending capacity of people are driving the automotive convertible top market

Key Market Restraint -

High cost of installation, low structural rigidity and high penetration of panoramic sunroofs may hamper the growth of the automotive convertible top market


Market Segmentation:


Globally, the automotive convertible top market is segmented by rooftop type, by material type, by vehicle, and by geographic coverage. The rooftop market is further segmented into hard top and soft top. The soft top segment is expected to dominate the global automotive convertible top market during the forecast period. Some of the prominent key players in the convertible top system market are investing heavily to upgrade their portfolios associated to convertible tops to achieve sustainable growth in the global automotive convertible top market. Most of the manufacturing companies are developing soft top systems which provides sound proof system, high rigidity, and classy structure to the vehicle. By material type, the market is further divide into carbon fibre, aluminium, PVC and other materials. Polyvinyl chloride (PVC) is a widely used material amongst other materials as this material possess various properties which are more beneficial for the vehicles. PVC is lighter in weight, has high rigidity, corrosive free, and high durability are some of the main properties that makes this superior than others.  By vehicle type, the market is further divided into hatchback, sedan and SUV. The SUV car segment is expected to dominate the global automotive convertible top market owing to the increasing popularity of sports utility vehicles (SUV) in most of the regions. The vast cargo capacity, high range power, high performance and advanced functionality are some of the main features that are propelling the growth of the SUV market.        


Key Players:


Major players operating in the global automotive convertible top market include Continental AG, The Haartz Corporation, Magna International Inc, Webasto Group, GAHH, LLC, Inalfa Roof Systems Group B.V., Power Packer Europa BV, Aisin Seiki, Valmet Automotive, Hoerbiger Holding, and Standex Electronics, Inc among others.


Key Insights



  • New Advancements in Automotive Convertible Top

  • Number of Products, Key Countries, 2018

  • New Product Launches, Key Players


Regional Analysis:


Geographically, the automotive convertible top market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Europe holds the largest market share of the global automotive convertible top market owing to the presence of prominent key players such as BMW, AUDI and Mercedes-Benz in this region. Germany is one of the leading country in the luxury car segment owed to which the automotive convertible top market is dominating in this region. Asia Pacific is also expected to register a high CAGR, in the forecast period. The developing and developed countries such as India, China and Japan, play a vital role in increasing the sales and production of vehicles in this region. Rapid adoption of advanced technology in automotive is surging the demand for the convertible top in automotive.


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Segmentation


























 ATTRIBUTE


  DETAILS

By Rooftop Type




  • Hard Top

  • Soft Top



By Material Type




  • Carbon Fibre

  • Aluminium

  • Polyvinyl Chloride (PVC)

  • Others



By Vehicle Type




  • Hatchback

  • Sedan

  • SUV



By Geography




  • North America (USA, Canada, and Mexico)

  • Europe (Germany, France, U.K., and Rest of Europe)

  • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)

  • Rest of the World



Automotive Convertible Top Market  Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2021
  • 2018-2020

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