Pune, India, May 2020, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Automotive Sun Visor Market.
Given the current environment, Market Research Future has revealed that a fast uptake and development of an automotive sun visor are progressively becoming a crucial component in the automotive industry. On this, MRFR predicts the potentiality of the global automotive sun visor market 2020. It can achieve a high valuation by the year 2023. Such a high valuation will garner at a growth rate of 26.5% in the forecast years (2018 to 2024).
Top Impacting Factors
Sun visor plays a pivotal part in offering safety while driving a vehicle. This protects the driver and passenger from the sun’s glare. Various types of sun visors are available with applications such as with or without a mirror and fixed and extendable sun visors. The leading sun visor manufacturers, in the current time, are developing lightweight substitutes with the help of diverse composition of materials such as recycled plastics. Due to the rapid development process, the market of automotive sun visor is focused on being gaining high momentum in the coming years.
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An automotive sun visor is used as a sunroof in vehicles positioned at the front of the roof panel inside the vehicle cabin. It supplies various advantages such as heat absorption and assists in protecting the vision of drivers and passengers from the gloweriness of sunlight and electronic equipment in the vehicle. All these factors have been confirmed to be growth augmenters for the market.
The primary factor bolstering the growth of the market is expected to grow during the forecast period are accredited to rising demand for automotive sun visor among consumers to block the sunlight and also to maintain the temperature in the vehicle. Also, the rising adoption of varieties of automotive sun visor with an application such as a commercial vehicle, passenger vehicle, and electric vehicle is anticipated to firewood the growth of the market. In fact, the factor of rising advancement in technology is also rapidly driving the growth of the automotive sun visor market.
At the same time, the automotive sun visor market is heavily influenced by more factors such as mounting demand for vehicle and passenger safety is likely to boost the automotive sun visor market during the assessment period. On the contrary, the factor of the high cost of automotive sun visor in the vehicle might pose a restraint to the growth aspect to some extent, yet also is likely to curb the growth of the global automotive sun visor market.
Segmentation of Market: Automotive Sun Visor
The global market for Automotive Sun Visor has further been studied among various segments of type, material, vehicle type, and propulsion.
Among the type segment, the market has included LCD and Conventional sun visor.
Among the material segment, the market has included vinyl, fabric, and others.
Among the vehicle type segment, the market has included passenger cars and commercial vehicles.
Among the propulsion segment, the market has included ICE and electric vehicles.
Among the sales channel segment, the market has included OEM and Aftermarket.
Regionally, the global automotive sun visor industry is studied among critical regions of Europe, North America, Asia-Pacific, and the Rest of the World.
Among these, the Asia-Pacific region is estimated to occupy the largest market share during the forecast period owing to the mounting population, growing vehicle penetration across countries, and changing lifestyles of consumers. Besides, surged use of electrification in vehicles is anticipated to boost the demand for automotive sun visor as it protects the electric equipment in vehicles. Besides, the rise in demand for safety features in vehicles and mounting investment by public and private players to heighten the development of the automobile sector is causative to the growth of this market in this region.
Top Market Contenders
The top players in the global automotive sun visor industry are listed as GUMOTEX (Chez Republic), Irvin Automotive Products, Inc (US), Grupo Antolin (Spain), GRIOS s.r.o. (Czech Republic), KASAI KOGYO CO., LTD. (Japan), Atlas Holding (US), OTOTRIM Sanayi ve Ticaret A.Ş. Panel (Turkey), HOWA TEXTILE INDUSTRY CO., LTD. (Japan), and KB Foam Inc. (US).