Automotive Sun Visor Market is Expected to Accumulate a Value of US$ 18.1 billion by Registering a CAGR of 4.0% in the Forecast Period 2023 to 2031 – TMR Report
Significant usage of automotive sun visors in order to enhance passenger and in-vehicle safety is expected to bolster market development
Wilmington, Delaware, United States, Aug. 02, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global automotive sun visor market was valued at US$ 12.7 Bn in 2022 and is projected to reach US$ 18.1 Bn by 2031. Increase in adoption of advanced features, such as built-in lighting, augmented reality displays, and novel electronic controls, is anticipated to boost revenue streams for companies in the market
Recent market trends indicate a rise in preference for sun visors that enable drivers to make easy adjustments Unobtrusive smart sun visors that do not block the outward view for the driver are likely to gain traction in newly produced passenger vehicles. This is expected to broaden market outlook. Increase in trend of adoption of LCD visors is anticipated to create significant business opportunities for companies in the automotive sun visor market.
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Key Findings of Study
Increase in Installation of Conventional Sun Visors in Cars
In terms of vehicle type, the passenger vehicle segment is anticipated to account for the major market share during the forecast period. Surge in sales of passenger vehicles in several developing countries is projected to fuel the market. Rise in demand for smart automotive sun visors for electric vehicles is likely to accelerate market development. Increase in focus on low-carbon transportation is estimated to spur the adoption of electrification of commercial and passenger cars in several countries.
In terms of type, the conventional sun visor segment is projected to account for the leading market share in the near future. Extensive adoption of conventional sun visors in the automotive industry is bolstering the segment.
Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 12.7 Bn | |
| Estimated Value | US$ 18.1 Bn | |
| Growth Rate – CAGR | 4.0% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 160 Pages | |
| Market Segmentation | By Surface Material, Type, Vehicle Type, Sales Channel | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Irvin Automotive Products, Inc., GUMOTEX, BRACE, GRIOS sro, Grupo Antolin, Atlas Holdings, KASAI KOGYO CO., LTD., HOWA TEXTILE INDUSTRY CO., LTD., BURSA OTOTRIM PANEL SANAYİ VE TİCARET A.Ş, FOMPAK, Benecke -Kaliko AG, Shanghai Daimay Automotive Interior Co., Ltd., Hayashi Telempu Corporation, IAC Group | |
Rise in Demand for Advanced Automotive Sun Visor in Premium Vehicles
Growth in demand for sun visors in sports utility vehicles (SUVs) and other premium passenger vehicles is anticipated to fuel market development. Increase in focus on implementation of safety regulations among manufacturers of light commercial vehicles is likely to bolster the demand for automotive sun visors. Apart from meeting passenger safety, sun visor also protects the electronic control unit (ECU) and other in-vehicle systems from direct sunlight.
Rise in R&D activities in AI-enabled automotive sun visors is anticipated to offer significant opportunities to companies in the market. An instance is increase in development of virtual sun visors that offer automatic adjustment of the visor based on the position of the sun relative to the vehicle’s movement and the driver’s eye position.
Increase in deployment of driver monitoring cameras in luxury vehicles is anticipated to bolster the demand for smart sun visors.
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Key Growth Drivers of Automotive Sun Visor Market
- Increase in focus on in-vehicle safety and passenger safety in the automotive industry is a key driver of the automotive sun visor market. Implementation of stringent regulations pertaining to safety of passengers in several developing and developed countries is likely to bolster the market.
- Growth in sales of passenger cars and commercial vehicles across the world is a key trend that is anticipated to augment the demand for visors. Increase in demand for premium vehicles, such as SUVs and LCVs, in developing countries is anticipated to fuel market development.
Regional Landscape
Asia Pacific is projected to lead the global automotive sun visor market with more than 50.0% share during the forecast period. Significant rise in vehicle production and increase in emphasis on implementation of advanced passenger safety features are expected to augment the market in the region. Demand for automotive sun visors is high in China, India, South Korea, and Japan. Surge in adoption of sun visors in these countries is likely to boost the market in the region during the forecast period.
The market in Europe is anticipated to expand at a rapid pace, driven by the rise in installation of automotive sun visor in electric and hybrid vehicles in the region.
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Competition Landscape
The business landscape is highly competitive, with leading players focusing on product innovations to consolidate their market position. Key players are also adopting the strategy of mergers & acquisitions to increase their market share.
Prominent companies in the automotive sun visor market are
- GUMOTEX
- GRIOS sro
- Grupo Antolin
- Atlas Holdings
- KASAI KOGYO CO. LTD.
- FOMPAK
- HOWA TEXTILE INDUSTRIAL CO. LTD.
- Benecke-Kaliko AG
- Hayashi Telempu Corporation
- IAC Group
- Irvin Automotive Products, Inc.
Segmentation
The automotive sun visor market is segmented based on
Surface Material
- Fabric
- Vinyl
- Others
Type
- Conventional Sun Visor
- LCD Sun Visor
Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
- Electric Vehicle
Sales Channel
- OEM
- Aftermarket
Region
- North America
- Europe
- Middle East & Africa
- South America
- Asia Pacific
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