The convertible roof system, which is made up of convertible sections, is used in luxury automobiles to improve comfort. Convertible roofs offer an open-air driving experience with the option of adding a roof to the top of the car as needed. This system can be handled manually or remotely and comes in a variety of forms and sizes depending on the kind of vehicle. During the day, the system improves air circulation while also providing enhanced brightness and light. It is widely used to give the automobile a classic and athletic aspect. Aluminum, PVC, and carbon fiber are frequently used in the construction of convertible roofs due to their light weight and exceptional durability. Due to these features of convertible roofs, market demand is increasing. Moreover, a rise in the demand for luxury cars and a rise in the number of young people who want convertible roofs installed in their cars both have an influence on the convertible roof system market.
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Segments of the Market
The global convertible roof system market is divided into three segments: roof top type, roof material, and vehicle type. The market is divided into two types of roof tops: hard tops and soft tops. On the basis of roof material, it is divided into three sub-segments: polyvinyl chloride (PVC), carbon fiber, and aluminum. Further, on the basis of vehicle type, the market is sub-segmented into hatchbacks, sedans, and sports utility vehicles (SUVs).
Recent Developments
Continental Automotive GmbH, The Haartz Corporation, U-Shin Ltd., Webasto SE, Magna International Inc., Valmet Automotive, Aisin Corp., Continental AG, Hoerbiger Holding, GAHH Automotive, Pininfarina S.p.A., Standex International Corp., and others are contributing to the market’s growth through various mergers, acquisitions, investments, and new product launch activities. Some recent developments and advancements in the market between 2021 and 2022 include:
- In July 2021, Webasto announced that the new BMW 4 Series has a Webasto convertible top. At the push of a button, the roof can be opened in 18 seconds while driving. The four roof components are placed on top of one another in one fluid motion. The roof components are kept beneath, and the top cover simultaneously opens backward.
- In November 2022, the four-passenger, open-roof Genesis X Convertible electric car concept was revealed by Genesis in California. With its architecture and electric drivetrain shared with the X Concept and X Speedium Coupe concept, the X Convertible completes the X concept trio.
- In November 2022, McLaren opened its first dealership in Mumbai, officially launching the brand in India. McLaren has also opened a specialized service center in Mumbai, staffed by McLaren-trained experts. McLaren showed out the 765LT Spider, which it claims is the fastest convertible it has ever made. The 765LT Spider, a track-focused ‘Longtail’ model, has the same aerodynamic carbon fiber bodywork as the coupe version, including lower door blades and side skirts, a more aggressive front bumper and splitter, and a wraparound back bumper. It also includes a folding roof that can be closed in 11 seconds.
- In May 2022, Mercedes-Benz disclosed that 2023 will mark the start of manufacturing for its next convertible vehicle. The new convertible is known as the Mercedes-Benz CLE.
- In September 2022, SAIC-GM-Wuling (SGMW), General Motors’ minicar joint venture in China, introduced the Mini EV Cabrio, a new entry-level convertible EV. The vehicle is powered by a 30 kW motor with a top speed of 100 km/h and a driving range of 280 km (174 miles).
Conclusion
According to OMR Research, the market is expected to grow at a CAGR of 3.9% during the forecast period of 2022-2028. The increased penetration of convertible roof systems in SUVs as well as the popularity of convertible roof cars among young people are factors supporting the market’s growth. Furthermore, without a roof and door frames, passengers are able to see more around them. As a result, convertibles provide increased visibility when traveling. Most convertibles can be readily converted back into a coupe or sedan by pressing a button, making them adaptable, which increases their demand.
Besides, many luxury automakers are introducing or planning to introduce new convertible-roof-equipped vehicles to the market, fueling the rapid growth of convertible roof systems. For instance, Ferrari began testing the convertible Roma Spider in September 2022. Morris Garages (MG) also uploaded a one-minute teaser film, titled “Return of the Legend,” showcasing its new two-seater electric roadster automobile. According to the company, the project Cyberster can accelerate from zero to 100kmph in less than three seconds and cover 800 kilometers on a single charge. Meanwhile, MG is yet to announce the specifics of its brand-new convertible. With so many new convertible automotive releases and investments on the market, the industry is expected to develop dramatically in the next few years. However, the high penetration of panoramic sunroofs and the lower penetration of convertible roof systems in mid-segment vehicles may hamper the industry’s expansion.
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Convertible Roof System Market– Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Aisin Seiki Co.
- GAHH, LLC.
- HOERBIGER
- Pininfarina S. p. A.
- Standex International Corp.
- Valmet Automotive Inc.
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