Global Convertible Cars Market Size | (CAGR) of 11.85% | CAGR of 4.7%
Category: Automotive & TransportationAccording to a research report published by Spherical Insights & Consulting, The Global Convertible Cars Market Size is Expected to Significant Share by 2035, at a CAGR of 4.7% during the forecast period 2025-2035.
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Browse key industry insights spread across 240 pages with 120 Market data tables and figures & charts from the report on the "Global Convertible Cars Market Size, Share, and COVID-19 Impact Analysis, By Rooftop Type (Hard Top and Soft Top), By Material Type (Carbon Fibre, Aluminium, Polyvinyl Chloride (PVC), and Others), By Vehicle Type (Hatchback, Sedan, and SUV), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 - 2035." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/convertible-cars-market
The convertible automobile segment refers to a type of passenger vehicle that has a roof that can completely retract which allows for both open and closed in driving experience. The convertible automobile segment is propelled by a growth in the demand for premium and lifestyle automobiles primarily in North America and Europe where sales of luxury automobiles increased more than 7% in 2024, and where any increase in disposable income and urbanization factors began enabling the purchase of high-priced automobiles. Increasing disposable income combined with urbanization factors enabled more people to buy more expensive vehicles, therefore benefiting the overall convertible automobile segment. The increases in technologies, e.g., advanced driver-assistance systems (ADAS), digital dashboards, and lightweight materials, have made vehicles safer while also appealing to a younger demographic. However, the convertible automobile market is the high cost of ownership, consisting of costly price tags, costly maintenance, and costly insurance. Limited practicality such as storage space and seasonal usage also detrimentally affects demand.
The soft top segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.
Based on rooftop type, the global convertible cars market is segmented into hard top and soft top. Among these, the soft top segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. Soft-top convertible types dominate because they are less costly to produce (less material cost) because they weigh less, and fold down more easily and have lower retail prices - thus attracting more buyers. History shows they are also inherently more attractive, and more importantly are available at mid-price points - comparatively few manufacturers build hard-top types. Likewise, soft-tops are especially widely available in the lifestyle markets in Europe and North America.
The aluminium segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on material type, the global convertible cars market is segmented into carbon fibre, aluminium, polyvinyl chloride (PVC), and others. Among these, the aluminium segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. Aluminium became a prevalent material for most vehicles in 2024 due to its lightweight property, leading to fuel efficiencies of between 10-15% relative to steel. One of the many potentially sustainable benefits of aluminium is its ability to be recycled and reusable which can reduce manufacturing costs. There has been consistent demand for aluminium for manufacturing luxury class and electric convertible applications.
The SUV segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.
Based on vehicle type, the global convertible cars market is segmented into hatchback, sedan, and SUV. Among these, The SUV segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. Because of their unique combination of luxury and functionality, SUV convertibles were again the highest-selling vehicle type in 2024, when they claimed more than 45% of the market. SUV sales continued to grow globally, (the up 10% YoY growth rate in 2024) and consumers have a very strong preference for larger vehicles, which can also be attractive and offer utility in the back. Each of these items lead to the continued strength of SUV convertibles in the marketplace.
North America is expected to hold the largest share of the global Convertible Cars market during the forecast period.
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North America is expected to hold the largest share of the global convertible cars market during the forecast period. The region benefits from strong consumer demand for luxury vehicles, high disposable incomes, and the presence of leading automobile manufacturers. Collaborations between automakers and technology providers are driving innovation in safety, infotainment, and electric convertible models. With increasing interest in lifestyle-oriented and personalized vehicles, North America is projected to maintain its leadership position in the global market.
Asia-Pacific is expected to grow at the fastest CAGR in the convertible cars market during the forecast period. Countries like China, India, and Japan are witnessing rising demand for premium and luxury vehicles, fueled by urbanization, higher incomes, and lifestyle shifts. Government investments in electric mobility and stricter emission regulations are encouraging automakers to introduce hybrid and electric convertible models. The region’s large millennial population and growing appetite for personalized vehicles are also boosting market growth.
Major vendors in the global Metabolomics market are BMW AG, Mercedes-Benz Group AG, Volkswagen AG (Audi, Porsche, Lamborghini, Bentley), Ferrari N.V., Stellantis N.V. (Maserati, Alfa Romeo, Fiat), Ford Motor Company, General Motors Company (Chevrolet, Cadillac), Jaguar Land Rover Automotive PLC, Aston Martin Lagonda Global Holdings PLC, McLaren Automotive, Tesla, Inc. (Roadster EV), Toyota Motor Corporation (Lexus), Nissan Motor Corporation (Infiniti), Honda Motor Co., Ltd. (Acura), Hyundai Motor Group (Genesis, Kia Stinger Convertible concepts).
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent development
- In July 2025, Autocar India has published a new feature highlighting every convertible car currently on sale in India. The lineup ranges from luxury brands like Ferrari, Maserati, Mercedes, and BMW to MG’s affordable Cyberster EV and high-end models like the McLaren 750 S Spider and Maybach SL 680.
Market Segment
This study forecasts revenue at the global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the Convertible Cars market based on the below-mentioned segments:
Global Convertible Cars Market, By Rooftop Types
- Hard Top
- Soft Top
Global Convertible Cars Market, By Material Type
- Carbon Fibre
- Aluminium
- Polyvinyl Chloride (PVC)
- Others
Global Convertible Cars Market, By Vehicle Type
- Hatchback
- Sedan
- SUV
Global Convertible Cars Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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