Technavio's global automotive sun visor market research report projects the market to grow at a CAGR of around 3% during the forecast period.
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Technavio has released a new market research report on the global automotive sun visor market for the period 2019-2023. (Graphic: Business Wire)
The use of eco-friendly material for making automotive sun visors will be one of the major trends in the global automotive sun visor marketduring 2019-2023. Conventionally, the automotive interior components such as sun visors are made up of a synthetic plastic polymer such as polyvinyl chloride. But, the automotive interior market is witnessing development in terms of materials and their sources. There has been a shift in the materials used for manufacturing automotive interior owing to a rise in consumer awareness regarding eco-friendly materials.
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According to Technavio analysts, one of the key drivers for the global automotive sun visor market is the increasing demand for premium vehicles:
Global automotive sun visor market: Increasing demand for premium vehicles
The premium segment in the automotive industry is witnessing exponential growth. This is anticipated to accelerate the demand for high-value automotive sun visors during the forecast period. The premium cars are equipped with high-priced advanced automotive interior applications, which are usually not offered in other vehicle segments. In developed economies, consumers are purchasing more premium vehicles than entry-level vehicles owing to the trend of premiumization.
According to a senior analyst at Technavio for research on automotive components, "Daimler announced in January 2018 that the global sales of Mercedes-Benz witnessed an 8.8% increase in 2017 when compared with 2016. Similarly, in January 2018, AUDI announced a 7.8% growth in the US in 2017 when compared with 2016. These factors are expected to drive the production of high-value automotive sun visor applications as these premium vehicles are fitted with premium sun visors."
Global automotive sun visor market: Segmentation analysis
This global automotive sun visor market analysis report provides market segmentation by type (passenger vehicle and commercial vehicle), by sales channels (OEMs and aftermarket), and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major segments by type, the passenger vehicle segment held the largest automotive sun visor market share in 2018, contributing to over 77% of the market. This segment will dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2018, accounting for close to 39% share. It was followed by the Americas and EMEA respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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