Category : Automotive, Transportation and Logistics | Published at : May-2020 | Delivery Format : PDF | Status: Published | Pages : 190
The global automotive glass market is projected to grow at a CAGR of around 4.9% during the forecast period 2020 to 2027 and to reach around US$ 44 Bn by 2027.
Market Dynamics
Automotive sector is witnessing rapid change across the globe, with the developing regulatory standards related to products and inclination towards electric, solar, and hybrid vehicles are some major factors expected to drive the growth of global automotive glass market. Government of developed and developing countries is focused on lowering the impact of vehicles on pollution. Their approach towards use of electric and solar vehicles is increasing. With the changing vehicle design and technological advancements is vehicle operation such as AR/VR in vehicles, optimized dashboard, etc. is resulting in demand for better quality glass. Innovative product launches is expected to further impact the growth of global market positively.
- In 2018, AGC introduced Pure Grey a neutral glass that offers an alternative to the green-tinted glass used on all car models for its solar control properties. The product launch will help the company to attract new customer and increase the profit.
Major players approach towards collaborative work for R&D activities and product development is expected to further augment the growth of target market.
- In 2020 AGC Glass and Citrine Informatics collaborated for the development of next-generation glass with AI as they are focused on catering the ongoing demand for optimizing optical and mechanical properties for strong scratch and abrasion-resistant glass. This collaboration will help the company to enhance the product portfolio and increase the profit ratio.
In addition, business development activities by the major payers through merger and acquisitions in order to increase the customer base and enhance the product portfolio are factors expected to support the growth of target market.
- In 2019, Safelite Group acquired TruRoad Holdings Inc. provides on-demand auto glass, driver assistance systems calibration and claims services. This acquisition will help the company to strengthen its position in the US market and enhance the customer base.
However, factors such as high operational cost and fluctuating raw material prices are expected to hamper the growth of global automotive glass market. Constantly changing raw material prices is impacting the cost of final product.
Rapid technological advancements by the major players and innovative product offerings are factors expected to create new opportunities for players operating in the target market over the forecast period.
Automotive Glass Market Segment Analysis, 2019
The global automotive glass market is segmented into product, application, vehicle type, and end use. The product segment is bifurcated into tempered, laminated, and others. Among the vehicle type segment passenger vehicle is expected to account for major revenue share in the global market.
Segment Analysis by Region
The market in North America is expected to account for major revenue share owing to high demand for electric vehicles with improved safety. In addition, presence of major players operating in the country and innovative product offerings is expected to further support the growth of target market in this region.
Asia Pacific is expected to witness faster growth in the near future owing to high passenger vehicle sale and presence of major automotive manufacturers operating in this region. In addition, inclination towards emerging economies in order to increase the profit ratio is expected to further support the regional market growth.
Competitive Landscape
The market is highly competitive due to presence of large number of players. In addition, new product launches and high investment for R&D activities is expected to further increase the competition in the market.
Report coverage
|
Market |
Global Automotive Glass Market |
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Analysis Period |
2016 – 2027 |
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Base Year |
2019 |
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Forecast Data |
2020 – 2027 |
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Market Stratification |
Product, Application, Vehicle Type, End Use and Geography |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
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Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
The market research study on “Automotive Glass Market (Product Type: Tempered, Laminated, and Others; Application: Windscreen, Backlite, Sidelite, and Sunroof; Vehicle Type: Passenger Car, Light Commercial, and Heavy Commercial; End Use: Original Equipment Manufacturer (OEM) and Aftermarket Replacement (ARG)) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027”, offers a detailed insights on the global automotive glass market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global automotive glass market segment by product, application, vehicle type, end use and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global automotive glass market size and segment markets by product, application, vehicle type, end use and geography along with the information on companies operating in the market. The automotive glass market analysis is provided for major regional market including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report Xinyi Glass, Asahi Glass, Fuyao Glass, Saint-Gobain, Samvardhana Motherson, Webasto, Nippon Sheet Glass, Gentex Corporation, Corning, Magna International, and AGG.
Market Segmentation
Market By Product Type
- Tempered
- Laminated
- Others
Market By Application
- Windscreen
- Backlite
- Sidelite
- Sunroof
Market By Vehicle Type
- Passenger Car
- Light Commercial
- Heavy Commercial
Market By End Use
- Original Equipment Manufacturer (OEM)
- Aftermarket Replacement (ARG)
Market By Region
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
Automotive sector is witnessing rapid change across the globe, with the developing regulatory standards related to products and inclination towards electric, solar, and hybrid vehicles are some major factors expected to drive the growth of global automotive glass market.
The global automotive glass market size is expected to reach around US$ 44 Bn by 2027.
The global automotive glass market is projected to grow at a CAGR of around 4.9% during the forecast period 2020 to 2027.
By vehicle type segment passenger vehicle is expected to account for major revenue share in the global market.
The market in North America is expected to account for major revenue share owing to high demand for electric vehicles with improved safety.
Asia Pacific is expected to witness faster growth in the near future owing to high passenger vehicle sale and presence of major automotive manufacturers operating in this region.
The players profiled in the report Xinyi Glass, Asahi Glass, Fuyao Glass, Saint-Gobain, Samvardhana Motherson, Webasto, Nippon Sheet Glass, Gentex Corporation, Corning, Magna International, and AGG.
