Convertible Roof System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
- Transparency Market Research
Vehicles with convertible roof systems can run with or without a roof in place. The techniques of retracting the roof vary between models. A convertible allows an open-air driving experience, with the ability to provide a roof when required.
Consumers prefer the classic and sporty look design of vehicles. Convertibles possess such features. Head room is another beneficial factor of the convertible. Without a roof and door frames, passenger probably able to see more around. Therefore, greater visibility while travelling is possible with help of convertibles. Most convertibles can easily be transformed back into a coupe or sedan with the push of a button, making it versatile. These factors are driving the convertible roof system market for automotive. Price and structural strength of the convertibles are key restraints of the convertible roof system market for automotive.
The convertible roof system market for automotive can be segmented based on vehicle class, rooftop, vehicle body, material, electric vehicle type, and geography.
Based on vehicle type, the convertible roof system market for automotive can be classified only into passenger vehicles. The passenger vehicle segment can be further sub-segmented into luxury, premium, and semi luxury. Consumers are increasing preferring luxury cars owing to their efficiency and advanced technology.
In terms of rooftop, the convertible roof system market for automotive can be segregated into hard rooftop and one more segment. Hard rooftop is not such hard as steel.
Based on vehicle body, the convertible roof system market for automotive can be segmented into sedan, and two other segments. Sedan convertible cars are highly preferable as luxury car segment.
In terms of material used to manufacture, the convertible roof system market for automotive can be segregated into carbon fiber and two more segments. Carbon fiber is effectively used, as it lends flexibility and hardness to the rooftops of vehicles.
In terms of electric vehicle type, the convertible roof system market for automotive can be segregated into electric vehicle and hybrid electric vehicles (HEVs). In an electric vehicle, power electronics takes direct current (DC) from the battery and converts it to alternating current (AC) and sends it to the motor. The electric motor utilizes the AC to create torque (mechanical power) to propel the wheels. HEVs employ two electrical machines; one is a generator connected to the engine and the other is a motor to drive the wheels. Each of these machines are connected to an inverter, and the two inverters run at a higher voltage than the battery.
In terms of geography, the convertible roof system market for automotive can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe accounts for a major share of the global convertible roof system market for automotive, due to the high rate of adoption and the weather conditions leading to an increased production of vehicles with convertible roof systems, especially in Germany and the U.K.
Key players operating in the convertible roof system market for automotive include Valmet Automotive, Aisin Seiki, Webasto, and Magna International.
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