Market Overview:
The global vehicle convertible top market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X% during the forecast period. The global vehicle convertible top market is segmented on the basis of type, application and region. On the basis of type, the global vehicle convertible top market is segmented into hard top and soft top. Soft tops are further sub-segmented into cloth/vinyl and canvas tops. Hard tops are further sub-segmented into steel and aluminum hardtops. On the basis of application, the global vehicle convertible top market is segmented into premium vehicles and non-premium vehicles segments. Premium vehicles are further sub-segmented into luxury cars, sports cars and SUVs segments while non-premium vehicles are further sub-segmented into hatchbacks, sedans & MUVs segments . Regionally, North America dominates the global Vehicle Convertible Top Market followed by Europe due to high demand for convertibles in these regions .
Product Definition:
A convertible top is a cloth or vinyl covering that attaches to the frame of a convertible car and protects the interior from the elements. It also provides privacy for passengers and can be used to improve the appearance of a car.
Hard Top:
Hard top is a convertible top that uses rigid structure for cover and relies on flexible fabric or plastic for protection. It's primary function is to protect the soft tops from rain, snow, wind and sun.
The global hardtop market size was valued at USD 3.88 billion in 2016.
Soft Top:
The soft top is also known as the convertible top. It's a removable cover that can be put on or taken off from the vehicle body. The soft top is usually made up of cloth or fabric and it helps in protecting the interior of a vehicle from extreme weather conditions such as rain, snow, and sun.
Convertible tops are available in different types such as single piece, two-piece with t-tops, three-piece with dickey (top.
Application Insights:
The premium vehicle segment accounted for the largest revenue share of over 60% in 2017. The growth is attributed to the fact that most of the manufacturers are offering VCT as an option for their high-end vehicles, which were previously sold with hard tops only. For instance, Mercedes Benz and BMW offer VCT as an option on some of their higher end cars including CLA Class and 3 Series respectively.
Non-premium vehicle application segment is expected to witness a CAGR around 10% from 2018 to 2030 owing to various factors such as government regulations mandating certain safety standards for convertibles across various regions, increasing awareness about available options by manufacturers regarding equipment availability on selected models., etc. However, demand from premium vehicle application segment is anticipated to remain strong throughout the forecast period due largely non-availability of substitutes for convertibles in this category thereby influencing overall market growth positively over next seven years.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing region over the forecast period owing to increasing demand for premium vehicles in emerging economies, such as China and India. Furthermore, rising disposable income of consumers and improving economic conditions are anticipated to boost sales of passenger cars in these countries. Europe is also likely to witness significant growth during the same period due to stringent regulations by government agencies regarding fuel emissions coupled with high safety standards expected from convertibles based on hard top designs. North America accounted for a significant share of global market revenue owing to high demand from U.S.
Latin America was estimated at USD X million in 2017.
Growth Factors:
- Increasing demand for luxury and sports cars
- Rising disposable income of consumers
- Technological advancements in the automotive industry
- Growing popularity of convertible cars among young buyers
- Proliferation of online car sales platforms
Scope Of The Report
Report Attributes
Report Details
Report Title
Vehicle Convertible Top Market Research Report
By Type
Hard Top, Soft Top
By Application
Premium Vehicle, Non-premium Vehicle
By Companies
Webasto, Magna, Valmet, Toyo Seat, ASC
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
213
Number of Tables & Figures
150
Customization Available
Yes, the report can be customized as per your need.
Global Vehicle Convertible Top Market Report Segments:
The global Vehicle Convertible Top market is segmented on the basis of:
Types
Hard Top, Soft Top
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Premium Vehicle, Non-premium Vehicle
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Webasto
- Magna
- Valmet
- Toyo Seat
- ASC
Highlights of The Vehicle Convertible Top Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hard Top
- Soft Top
- By Application:
- Premium Vehicle
- Non-premium Vehicle
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Vehicle Convertible Top Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A convertible top is a type of roof that can be opened and closed to allow the occupants of a car to enjoy the sun or rain while driving.
Some of the key players operating in the vehicle convertible top market are Webasto, Magna, Valmet, Toyo Seat, ASC.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Vehicle Convertible Top Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Vehicle Convertible Top Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Vehicle Convertible Top Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Vehicle Convertible Top Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Vehicle Convertible Top Market Size & Forecast, 2018-2028
4.5.1 Vehicle Convertible Top Market Size and Y-o-Y Growth
4.5.2 Vehicle Convertible Top Market Absolute $ Opportunity
Chapter 5 Global Vehicle Convertible Top Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Vehicle Convertible Top Market Size Forecast by Type
5.2.1 Hard Top
5.2.2 Soft Top
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Vehicle Convertible Top Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Vehicle Convertible Top Market Size Forecast by Applications
6.2.1 Premium Vehicle
6.2.2 Non-premium Vehicle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Vehicle Convertible Top Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Vehicle Convertible Top Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Vehicle Convertible Top Analysis and Forecast
9.1 Introduction
9.2 North America Vehicle Convertible Top Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Vehicle Convertible Top Market Size Forecast by Type
9.6.1 Hard Top
9.6.2 Soft Top
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Vehicle Convertible Top Market Size Forecast by Applications
9.10.1 Premium Vehicle
9.10.2 Non-premium Vehicle
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Vehicle Convertible Top Analysis and Forecast
10.1 Introduction
10.2 Europe Vehicle Convertible Top Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Vehicle Convertible Top Market Size Forecast by Type
10.6.1 Hard Top
10.6.2 Soft Top
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Vehicle Convertible Top Market Size Forecast by Applications
10.10.1 Premium Vehicle
10.10.2 Non-premium Vehicle
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Vehicle Convertible Top Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Vehicle Convertible Top Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Vehicle Convertible Top Market Size Forecast by Type
11.6.1 Hard Top
11.6.2 Soft Top
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Vehicle Convertible Top Market Size Forecast by Applications
11.10.1 Premium Vehicle
11.10.2 Non-premium Vehicle
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Vehicle Convertible Top Analysis and Forecast
12.1 Introduction
12.2 Latin America Vehicle Convertible Top Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Vehicle Convertible Top Market Size Forecast by Type
12.6.1 Hard Top
12.6.2 Soft Top
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Vehicle Convertible Top Market Size Forecast by Applications
12.10.1 Premium Vehicle
12.10.2 Non-premium Vehicle
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Vehicle Convertible Top Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Vehicle Convertible Top Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Vehicle Convertible Top Market Size Forecast by Type
13.6.1 Hard Top
13.6.2 Soft Top
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Vehicle Convertible Top Market Size Forecast by Applications
13.10.1 Premium Vehicle
13.10.2 Non-premium Vehicle
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Vehicle Convertible Top Market: Competitive Dashboard
14.2 Global Vehicle Convertible Top Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Webasto
14.3.2 Magna
14.3.3 Valmet
14.3.4 Toyo Seat
14.3.5 ASC
