Published Date : 20 Feb 20 | Views: 66 | Industry : Automation & Transportation
Introduction of Innovative Sun Visors with Mirror to Improve Growth
Among product types, sun visor with mirror is predicted to account for a sizable share of the global automotive sun visor market in the coming years. The added mirror feature in automotive sun visor could help contribute to the growth of this segment. Among application segments, passenger vehicle is expected to secure a commanding share of the global automotive sun visor market in future. The continuous launch of advanced passenger vehicles and their strong demand could help propel the growth of the passenger vehicle segment in the global automotive sun visor market.
Increasing Automobile Sales Likely to Augment Demand in Asia Pacific
Asia Pacific is predicted to create massive demand for automotive sun visor due to the rising automobile production and automotive technological advancement. India and China usually witness high demand for cars due to the increasing population growth, improving living standards, and heavy presence of automotive companies. Asia Pacific is also considered as one of the world’s automotive hubs and has scores of automotive parts companies operating in its region. The demand for automotive sun visor could increase in the region as it usually experiences sunnier and hotter weather conditions compared to some regions. The need to reduce car accidents could be another factor strengthening the growth of the Asia Pacific automotive sun visor market.
Nature of Market: Moderately Fragmented
Automotive sub visor manufacturers are expected to leverage AI to introduce smarter products to protect the drivers’ vision to avoid road mishaps. Early in 2020, Bosch debuted its AI-based transparent digital automotive sun visor Virtual Visor at CES 2020. Automotive sun visor manufacturers are anticipated to show high interest in Asia Pacific countries such as India. In mid-2019, Joyson Safety System announced the merger of its two joint ventures in India to form a tri-party joint venture. The report covers key players of the global automotive sun visor market, including Grupo Antolin, Mecai, Daimei, Yongsan, Atlas (Motus), Dongfeng Electronic, Kyowa Sangyo, HOWA TEXTILE, KASAI KOGYO, IAC Group, Hayashi, and Joyson Safety Systems.
Use of AI and Other Advanced Technologies to Create Rewarding Opportunities
The growing demand for premium cars could be among top drivers of the global automotive sun visor market. Use of more advanced technologies such as AI and environment-friendly materials in automotive sun visor is anticipated to create lucrative sales opportunities for global players in future. The extensive expansion of the automotive and automobile parts markets in developing countries could positively impact the demand for automotive sun visor. Foreign automotive sun visor companies are expanding their operations in India and China due to the vast demand for high-end automobiles.
For more information, visit: https://www.qyrconsulting.com/reports/automotive-sun-visor-market