Automotive Glass Market is predicted to grow from USD 23 billion in 2021 to 35. 07 USD billion by 2030, at a CAGR of 4.8% during the forecast period.
All glasses used in automobiles fall under the umbrella phrase “automotive glass”. This particular float glass has been heated and chemically processed. The toughening procedure makes the glass more robust and durable, enabling it to withstand external stress.
Industrialization, urbanization, and economic expansion are driving the consumer demand for cars, which is in turn increasing the demand for automotive glass. The development of hybrid and electric vehicles is, supporting the expansion of the automotive glass market. This is due to an emphasis on pollution control and strict environmental rules. In order to meet government regulations, consumers and manufacturers are likely to look for more environmentally friendly automobiles. This is what is driving the market for hybrid and electric vehicles.
Market Dynamics:
Drivers:
The development of hybrid and electric vehicles is advancing, supporting the expansion of the automotive glass market. In order to meet government regulations, consumers and manufacturers are likely to look for more environmentally friendly automobiles.
There is Increased investment in technological advancement of automotive glass. This has resulted from a focus on increasing the application of sunroofs in mass-market vehicle and use of technologies like head-up displays. Market changes are being driven by criteria for windshield retention and roof crush during rollover to improve the safety features of cars. The automotive glass market is expanding significantly as a result of all these factors.
Restraints:
Laminated glass is far expensive than tempered glass and its use is severely constrained. Moreover, R&D and the creation of thin laminated glass for side windows are costly. The expansion of the automotive glass market will be negatively impacted because of these factors.
Opportunities:
It is projected that the market will grow as electric car production and sales increase. These vehicles have cutting-edge battery and display technology, which is expected to accelerate the adoption of automotive glass.
Research is being done on smart glass to improve it. This might be used to provide drivers of cars a head-up display that resembles the glass cockpit of a helicopter. This would facilitate easier access to all controls of the car. This factor is anticipated to increase the growth of automotive glass market.
Key Players:
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Dura Automotive Systems
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Saint-Gobain S.A.
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Asahi Glass Co. Ltd.
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Fuyao Glass Industry Group Co. Ltd.
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Nippon Sheet Glass Co. Ltd.
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Xinyi Glass Holding Ltd.
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Central Glass Co. Ltd.
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Glas Trosch Holding AG
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Gentex Corporation
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Magna International Inc.
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Vitro S.A.B de C.V.
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Guardian Industries Corporation
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AGC Inc.
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Guardian Glass LLC
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Webasto Group
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Corning Incorporated
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Schott AG
Market Segmentation:
Automotive Glass Market, By Glass Type
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Laminated
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Tempered
Automotive Glass Market, By Application
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Windshield
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Sidelight
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Backlite
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Sunroof
Automotive Glass Market, By Vehicle Type
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Passenger Car
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Light Commercial Vehicles
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Heavy Commercial Vehicles
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Electric Vehicles
Automotive Glass Market, By Region
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North America
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Europe
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Asia-Pacific
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Latin America
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Middle East & Africa
Regional Analysis:
Asia-Pacific is the largest market. Production of vehicles has increased as a result of strong population growth and improving economic conditions. Due to consumer preference for SUVs in countries like China and India, which require more glass than other vehicles. This factor will fuel market expansion of automotive glass market.
Europe is anticipated to experience considerable market expansion. The market expansion in this region is being driven by stringent car safety laws, and a growing percentage of electric vehicles.
Scope of the Report:
|
Report Coverage |
Details |
|
Base year |
2021 |
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Forecast period |
2030 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.8% |
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Regional analysis |
North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa |
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Current Market size |
USD 23 Billion |
|
Forecast market growth |
USD 35.07 Billion |
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In the top-down technique, the market is divided into segments based on the percentage share of each segment. This method assisted in determining the size of each segment's market. The market size of each segment and its sub-segments was then divided into regional market sizes. This Approach helps mainly with the new Product Launch. It uses Multi-variate Regression Model coupled with Vendor based primary research inputs to forecast to the Market Size.
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