LONDON--(BUSINESS WIRE)--The automotive sun visor market size is poised to grow at a CAGR of over 3% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The premium vehicle segment in the automotive industry is witnessing exponential growth, especially in developed economies. For instance, in January 2018, AUDI announced a 7.8% growth in the US as compared to 2016. Premium cars are equipped with high-priced advanced automotive interior applications, which are usually not offered in other vehicle segments. Thus, the growing demand for luxury cars will drive the production of premium automotive interior components used in these vehicles. This is anticipated to accelerate the need for high-value automotive sun visors during the forecast period.
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As per Technavio, the use of eco-friendly material for making automotive sun visors will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Automotive Sun Visor Market: Use of Eco-Friendly Material for Making Automotive Sun Visors
The use of eco-friendly material for making automotive sun visors will be one of the significant trends in the global automotive sun visor market. Traditionally automotive interior components such as sun visors are made up of a synthetic plastic polymer such as polyvinyl chloride. However, manufacturers are investing in the development of automotive interiors made from eco-friendly and renewably sourced materials. For instance, DuPont provides renewably sourced polytrimethylene terephthalate under the DuPont Sorona fiber offering. The fiber can be used in the manufacture of automotive interior components including sun visors.
“Preference for lightweight sun visors and adoption of sun visor-mounted HUDs and LCD sun visors will have a significant impact on the growth of the automotive sun visor market value during the forecast period,” says a senior analyst at Technavio.
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Automotive Sun Visor Market: Segmentation Analysis
This market research report segments the automotive sun visor market by type (passenger vehicle and commercial vehicle), sales channels (OEMs, and aftermarket) and geography (the Americas, APAC, and EMEA).
The APAC region led the market in 2018, followed by the Americas and EMEA respectively. The growth of the automotive sun visor market share in APAC can be attributed to factors such as the increase in the number of car buyers due to the rising purchasing power of consumers in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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