Research and Markets - Global Automotive Retractable Roof Top (ARRT) Market - Analysis, Technologies and Forecasts to 2021 - Key Vendors are Webasto, Magna International, Inalfa Roof Systems & Pininfarina
The global automotive retractable roof top market to grow at a CAGR of 9.88% during the period 2017-2021.
The report, Global Automotive Retractable Roof Top Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
The latest trend gaining momentum in the market is development of new technology leading to faster operating mechanism. The global ARRT market is rapidly evolving with the use of advanced technology is powertrain, infotainment, comfort and convenience, and safety sectors. The extensive use of electronic sensors and microprocessors in the vehicle along with advanced control modules has led to the development of more advanced retractable roof tops. With the fusion of more electronic components within the vehicles, the automotive convertible roof tops are becoming more dynamic and high on functionality with options of varied roof top fold mechanisms.
According to the report, one of the major drivers for this market is decreasing cost of production and improving reliability leading to increased popularity. The global ARRT market is becoming more popular year-on-year with automakers increasing the product portfolio of vehicles with retractable roof tops. The roof designs have become much more dynamic and flexible, which is leading to the growing visual appeal of an automobile in the automotive market. There are some driving factors that have led to the growing market penetration of retractable roof tops such as declining cost of production with the advance in technology and increasing reliability.