Industry Insight
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 size.
At the same time, the automotive sun visor market size is heavily influenced by more factors such as mounting demand for vehicle and passenger safety is likely to boost the automotive sun visor market size 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 size.
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