The rise of passenger vehicle sales propelled the growth of the automotive roof control module market in the APAC Region!
- Himanshu Patni
- December 16, 2023
- AUTOMOTIVE, NEWS
- Automotive Roof Control Module Market, Automotive Roof Control Module Market Forecast, Automotive Roof Control Module Market Share, Automotive Roof Control Module Market Size, Automotive Roof Control Module Market Trends
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The automotive roof control module market in APAC (Asia-Pacific) region is expected to grow significantly in the coming years. APAC is a region with diverse economies and infrastructure development levels, but the demand for passenger vehicles is increasing across the region due to rapid urbanization and infrastructure development. The growing adoption is also attributed to the rising incomes of people hence more households are entering the consuming class and at the same time more people are joining the workforce as more women and youth are joining the workforce hence raising the demand for mobility and is expected to drive the market during the forecast period. Moreover, the large population of young and working-class aspirational youth are further driving the market because of their preferences like sporty design, comfortable and luxurious features, and technologically advanced vehicles having voice commands, drive assists, automatic sunroofs equipped with sensors etc.
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Furthermore, China is driving the growth of the automotive roof control module as the demand for passenger vehicles in china is very high and youth of the china is driving this growth, according to the sales data of china passenger vehicles, those aged from 21 to 30 accounted for 27 per cent of car buyers in China in 2022, up from 16 per cent in 2017, moreover, another major shift in car buyer demographic in china is growing number of female buyers of cars. For instance, according to a report by China’s Auto Home Research Institute, the average age of Mercedes-Benz car owners in China is less than 36, which is around 10 to 15 years younger than its customer base in Europe and the United States.
The APAC automotive roof control module market is expected to grow at a strong CAGR of around 9% during the forecast period (2022-2028). APAC is anticipated to emerge as the fastest-growing automotive roof control module market primarily owing to the spur in demand for passenger vehicles in China, India, and Japan coupled with the growing demand for SUVs and premium luxury vehicles in countries like China and India are expected to drive the market during the analysis time period.
FIG. 1 APAC Automotive Roof Control Module Market Revenue (2020-2028)- USD Mn
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Based on vehicle type, the market is segmented into hatchbacks, sedans, and SUVs. The SUV category is anticipated to witness the highest CAGR during the forecast period. In recent years, consumers have become more aware of things and the benefits that the SUVs have over another segment of passenger vehicles SUVs are more spacious, more comfortable, are very safe and can drive through all terrains is attracting a lot of audiences, furthermore, SUVs comes with a lot of luxurious features and a very technologically advanced cabin and to tap on to this opportunities OEMs are providing SUVs at every price ranges hence fueling the growth at a very rapid rate.
Based on technology type, the market is bifurcated into LIN in vehicle communication and CAN in vehicle communication. LIN in vehicle communication is the one that is used extensively in the roof control modules as roof controls are not a critical function like engine control and engine management, anti-lock braking systems etc., so the manufacturers started using cheaper solutions that will complement the CAN bus and will also be more affordable, LIN bus system is more cost-effective, also the power consumptions are less, it is also less complex and has very simplified implementation hence they are dominating the roof control module market.
Global Automotive Roof Control Module Market Segmentation
Market Insight, by Vehicle Type
· Hatchback
· Sedan
· SUV
Market Insights, by Roof Type
· Regular Sunroof
· Panoramic Sunroof
· Convertible Roof
Market Insights, by Technology Type
· LIN in vehicle communication
· CAN in vehicle communication
Market Insight, by Region
· North America
o U.S.
o Canada
o Rest of North America
· Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Rest of Europe
· APAC
o China
o Japan
o India
o South Korea
o Rest of APAC
· Rest of the World
Top Company Profiles
· CONTINENTAl AG
· DENSO CORPORATION.
· Robert Bosch GmbH
· Beijing Jingwei Hirain Technologies Co., Inc.
· Webasto Group
· Pektron Group Ltd
· Renesas Electronics Corporation
· AISIN CORPORATION
· GAHH, LLC
· The Haartz Corporation
