Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Automotive Solar Sunroof Market Overview
Automotive solar sunroof is referred to a sunroof which is equipped with solar panels. Automotive solar sunroof recharges car battery and provides temperature control. Automotive solar sunroof helps the car to lower down the temperature up to 50% without enabling the air-conditioning system. The solar cells installed in the roof system produce electricity that can be fed directly into the battery by using intelligent battery management.
Market Size and Forecast
Global automotive solar sunroof market is anticipated to grow at a robust growth over the forecast period. Further, the market of automotive solar sunroof is driving on various factors such as rising demand for renewable source of energy and growing adoption of automotive solar sunroof due to its various properties.
In terms of regional platform, Europe region captured the largest market of automotive solar sunroof in terms of revenue in 2016. The region is expected to continue its dominance during the forecast period owing to growing demand for eco-friendly energy source and rising government norms to reduce greenhouse gases.
Asia-Pacific region accounted for the second largest market for automotive solar sunroof owing to increasing demand for green source of energy to power vehicle. Moreover, Japan and china are the dominating countries in this region owing to growing adoption of electric vehicles. Likely, riding on the back of largest automotive sector and rapid urbanization in Asia-Pacific region are believed to boost the demand for automotive solar sunroof. CLICK TO DOWNLOAD FREE SAMPLE
North America region is projected to witness a tremendous growth over the forecast period. Further, introduction of government regulation to harness solar energy and rapid advancement of automotive industry are predicted to flourish the growth of automotive solar sunroof market in this region by the end of 2024. U.S. is expected to dominate the automotive solar sunroof market in this region during the forecast period.
Market Segmentation
Our in-depth analysis has segmented global automotive solar sunroof market into the following segments:
By Vehicle Type
By Region
Global automotive solar sunroof market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Rising environmental concerns coupled with increasing government rules and regulations to reduce greenhouse gases and advancement of automotive industry are envisioned to be the dynamic factors behind the rapid growth of automotive solar sunroof market across the globe. Moreover, rising adoption of green mobility vehicle concept by automotive manufacturing companies and increased use of electric vehicles are projected to bolster the growth of automotive solar sunroof market by the end of 2024.
Furthermore, rising demand for renewable source of energy to power vehicles and rapid urbanization are believed to foster the growth of automotive solar sunroof market. Additionally, high adaptability and encouragement of new technologies in developed regions is also predicted to propel the growth of automotive solar sunroof market. Likely, automotive solar sunroof helps to reduces fuel consumption and cuts CO2 emission. This factor is expected to propel the growth of automotive solar sunroof market.
However, high cost of automotive solar sunroof is anticipated to hinder the growth of automotive solar sunroof market.
Key Players
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