Automotive Glass Market - Global Industry Analysis, and Forecast 2023
Posted by aartimule on July 23rd, 2020
Global Automotive Glass Market: Overview
Different types of glasses are used for the manufacturing of an automobile, such as windshield, glass panel roof, and side and rear windows. These are collectively called as automotive glass. Advanced windshields available these days not only block the wind as well as other flying debris from entering the fast moving vehicle, they are designed aerodynamically to breach the air swiftly. Moreover, laminated safety glass now exhibit spiderweb cracking, which adds to the protective aspects in case of accidents. With the rise in global population and increasing disposable income, the automotive industry is thriving and concurrently, the demand in the global automotive glass market is expected to escalate at a robust CAGR during the forecast period of 2016 to 2024.
This report on global automotive glass market is a thorough study, aimed to act as knowledgebase for the players in making more informed decisions. The report provides an analysis of all the factors that may impact the demand during the forecast period, besides highlighting some of the key trends. It also profiles some of the key players for their market share, product portfolio, and recent developments. The global automotive market can be segmented on the basis of product type, application, end-use, vehicle type, and geography. By product type, the market can be divided into tempered, laminated, and others while by application, the market can be segmented into windshield, sidelite, and backlite. By end-use, the market can be categorized into original equipment manufactured (OEM) and aftermarket auto glass (ARG), while by vehicle type, the segments can be passenger car, light commercial vehicle, and heavy commercial vehicle.
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Global Automotive Glass Market: Trends and Opportunities
The automotive glass industry is expected to gain from the increasing global GDP and rapid urbanization across the emerging economies. The demand in the overall automobile industry is at its peak and consumers are now willing to spend extra for quality products. The report identifies side glazing as the latest trend in the automotive glass market, which is anticipated to increment the average glass used per vehicle. With the increasing awareness among the end users pertaining to security and safety offered by advanced products, the research and development is being carried out by the players in automotive glass manufacturers. Photochromic properties offered by advanced glasses that considerably reduce the intensity of ultraviolet (UV) radiation and automotive smart glass with auto dimming properties are two such innovation that has been well received by the end-users. The smart glass segment of automotive glass optimizes the experience by manipulating natural light, lighting load, and cooling and heating load.
Currently, tempered automotive glass product segment dominates the market, although laminated glass is projected for a significantly higher growth rate during the forecast period. By application, windshield serves the maximum demand in global automotive glass market while by end-use, OEM leads over ARG on account of vehicle safety features from the manufacturing end. By type of product segment, passenger cars account for the lion share of the market.
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Global Automotive Glass Market: Region-wise Outlook
Geographically, the report divides the market into North America, Europe, Asia Pacific, and rest of the world. Currently, Asia Pacific serves the maximum demand, owing to factors such as availability of cheap and skilled labor, which is enticing foreign investments in the region. North America is also expected to witness consistent growth due to increase in the manufacturing of commercial vehicles in the developed countries of the U.S. and Canada.
Companies mentioned in the research report
Fuyao Group Automobile Glass Co., Ltd., Asahi Glass Company, Saint Gobain, Nippon Sheet Glass Co., Ltd., Magna International, Xinyi Glass, and Gentex Corporation are some of the key companies in the global automotive glass market, wherein top four companies reserve dominant share. Investments for research and development of new products and expansion of the manufacturing capability are two common strategies adopted by the market players to gain shares. For example, AGC invested US3.2 million in March 2016 to manufacture the second float glass manufacturing facility in Brazil. It is likely to get completed by 2018.
Also See: Glass Market, Automotive Glass, Global Automotive, Forecast Period, Market, Global, Glass
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