Automotive Glass Market will develop at a 7.28% CAGR between 2017- 2023, reveals the current Market Research Future’s (MRFR) Automotive Glass Market report. The strong automotive glass market value is to the drastic increase in the sales of new cars.
Glass plays a central role in various parts of an automotive such as windows, windscreen, and roof. The global Automotive Glass Market report by Market Research Future (MRFR) covers drivers, challenges, opportunities, and bottlenecks to be faced by glass manufacturers for the period of 2019 to 2025 (forecast period). The COVID-19 pandemic and its implications are explored in the industry report.
Prominent players profiled in the global Automotive Glass Market report include Shatterprufe (South Africa), Olimpia Auto Glass Inc. (Turkey), Saint Global S.A. (Paris), Central Glass Co. Ltd (Tokyo), Asahi Glass Co., Ltd (Japan), Fuyao Glass Industry Group Co. Ltd (China), Guardian Industries Corp (US), Xinyi Glass Holdings Limited (Hong Kong), Vitro, S.A.B. de C.V. (Mexico), and Nippon Sheet Glass Co. Ltd (Japan).
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The global Automotive Glass Market Trends is expected to grow with an estimated CAGR of 7.28% during the forecast period. Development of new iterations of glass designs and procurement of latest vehicles annually can drive market demand. Incorporation of asymmetric designs and focus on exterior aesthetics can bode well for the market. Huge strides in glass manufacturing and capacity to increase the strength and quality of glass has led to innovations such as tinted glass and acoustic glass
Badges and hood ornaments endorsing the brand logo of the company have been made using glass. They are made from a combination of inorganic and non-toxic oxide and silicate compounds. The development of hood ornaments on luxury and ultra-luxury cars can drive the market growth. Introduction of new financial schemes and available loans for cars can facilitate growth in the global automotive glass market.
Based on type, the Global Automotive Glass Market has been bifurcated into tempered and laminated glass. In 2018, the laminated glass segment was projected to witness significant growth in terms of value during the forecast period. Laminated glass is soundproof, easy to install, and durable. Hence, the demand for laminated glass is gradually increasing among auto glass manufacturers. In addition, its resistance to shattering during accidents and protecting passengers can drive the segment demand in the global automotive glass market.
On the basis of vehicle type, the global market has been segmented into passenger car, light commercial vehicle, and heavy commercial vehicle. The passenger car segment accounted for the largest market share of global Automotive Glass Market Size during the forecast period. This is attributed by the rising demand for passenger cars, increasing per capita income in emerging countries, and growing use of glass in automotive. Passenger cars employ glass for protecting passenger from environmental elements such as dust, wind, sunlight, etc.
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Based on application, the global market has been segregated into windscreen, sidelight, backlite, and sunroof. The windscreen segment is expected to witness substantial growth owing to its increasing consumption in the automotive industry. On the other hand, the sidelight segment is deemed to capture a significant market share owing to its installation on door frames.
Among these regions, Europe is expected to witness significant growth in the global Automotive Glass Market Growth due to the presence of well-established automotive players and the growing demand for passenger vehicles. In Europe, Germany accounted for the largest market share, followed by the U.K. and France.
The automotive glass market in North America is being dominated by the U.S. and followed by Canada. North America is one of the major producers of automotive glass due to the presence of established players in the automotive glass market. Moreover, the rising demand for passenger cars has resulted in increasing demand for automotive glass has augmented the North American market.
Fuyao Glass Industry Group Co. Ltd, Central Glass Co. Ltd, Vitro, S.A.B. de C.V., Xinyi Glass Holdings Limited, Olimpia Auto Glass Inc., Saint Global S.A., Guardian Industries Corp, Shatterprufe, Asahi Glass Co., Ltd, and Nippon Sheet Glass Co. Ltd are notable players of the global Automotive Glass Market Share. Development of 3D decorative cover glass for letting users experience AR and VR can bode well for the market. Recently, Corning Incorporated announced tie-ups with various automotive manufacturers for Aion LX, an interior glass component made from its patented technology. Rise of in-car solutions due to the rapid integration of latest technologies can favor the glass manufacturer.
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Table Of Content
1 Executive Summary
2.1 Definition 14
2.2 Scope Of The Study 14
2.3 Assumptions 14
2.4 Market Structure 14
3 Research Methodology
3.1 Research Process 16
3.2 Primary Research 17
3.3 Secondary Research 17
3.4 Market Size Estimation 17
3.5 Forecast Model 19
4 Market Dynamics
4.1 Introduction 20
4.2 Market Drivers 21
4.2.1 Increase In Sales Of New Vehicles 21
4.2.2 Increasing Focus On RD For Automotive Glass 22
4.2.3 Accelerating Urbanization Led To Growth Of The Automobile Industry 22
4.3 Market Restraints 23
4.3.1 Higher Cost Of Smart Glass 23
4.3.2 Strict Government Regulation For Certification Of Automotive Glass 23
4.4 Market Opportunities 24
4.4.1 Advanced Automotive Industry Technology 24
4.4.2 Rising Preference For Gorilla Glass For High End Premium Vehicles 24
5 Market Factor Analysis
5.1 Five Forces Analysis 25
5.1.1 Threat From New Entrants 25
5.1.2 Bargaining Power Of Supplier 26
5.1.3 Bargaining Power Of Buyers 26
5.1.4 Threat From Substitutes 26
5.1.5 Threat Of Rivalry 27
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