New York, United States , May 15, 2023 (GLOBE NEWSWIRE) -- The Global Automotive Glass Market Size is to grow from USD 26.9 Billion in 2022 to USD 47.85 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.93% during the projected period. The widespread utilization of automotive glass for several applications such as the windscreen, sidelite, backlite, side & rearview windows, sunroof, and others in a wide variety of vehicles such as passenger vehicles, light commercial vehicles, heavy commercial vehicles, and others are expected to boost the demand for the automotive glass market during the forecast period.
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The term "automotive glass" refers to all types of glass used in autos. The windshield, side, rear, and glass panel roofs of a car are all examples of automotive glass. It is a heated and chemically processed kind of float glass. Furthermore, increased global automobile manufacturing, notably in the SUV sector, as well as the growing popularity of premium luxury cars equipped with adaptive glass technology, are pushing up glassware demand in the automotive sector. Factors driving the automotive glass market demand include the implementation of safety glass requirements, the desire for lightweight glass, and better smart glass solutions with improved visibility and safety. Furthermore, due to rising customer demand for vehicle safety, convenience of use, and aesthetics, the Asia Pacific market is expected to lead the global automotive glass market and maintain its market dominance over the forecast period.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on "Global Automotive Glass Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Tempered, Laminated, Others), By Application (Windshield, Sidelite, Backlite, Side & Rearview Windows, Sunroof, and Others), By Vehicle Type (Passenger Car, Light Commercial, and Heavy Commercial), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032". Get Detailed Report Description Here:
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The tempered segment is dominating the market with the largest revenue share over the forecast period.
On the basis of product type, the global automotive glass market is segmented into the tempered, laminated, and others. Among these, the tempered segment is dominating the market with the largest revenue share of 54.69% over the forecast period. This is primarily owing to attributes such as low cost, excellent durability, and robustness. The product is 4-5 times stronger than normal float glass and costs less than laminated automobile glass.
The windscreen segment is witnessing significant CAGR growth over the forecast period.
On the basis of application, the global automotive glass market is segmented into the windscreen, sidelite, backlite, side & rear-view windows, sunroof, and others. Among these, the windscreen is expected to rise at a considerable CAGR during the projected period, owing to technology breakthroughs like built-in sensors and advanced materials, integrated displays, self-cleaning glass, and further developments. The development of unique types of windshields, such as those with self-cleaning glass, is likely to support industry growth over the forecast period.
The commercial vehicles segment accounted the largest revenue share of more than 57.2% over the forecast period.
On the basis of vehicle type, the global automotive glass market is segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Due to the increase in construction and transportation operations, commercial vehicles would dominate the market with the highest revenue share of 57.2% over the forecast period. As a result, automakers are being obliged to increase output to meet increased demand.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 43.2% market share over the forecast period owing to the region's rapidly expanding economy, increased disposable income, and accompanying rise in demand for commercial vehicles. Furthermore, higher investments in the vehicle industry are propelling the region's automotive glass market forward. China and India are developing consumer preferences for automotive style, quietness, and luxury. On the other hand, North America is predicted to expand the fastest during the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Automotive Glass Market include Saint-Gobain, Fuyao Glass, Webasto, Magna International Inc., Corning Incorporated, Xinyi Glass Holdings Co., Ltd., Taiwan Glass Ind Corp, Central Glass Co., Asahi Glass, Samvardhana Motherson, Nippon Sheet Glass, and among others.
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Recent Developments
In March 2023, Samvardhana Motherson Automotive Systems Group BV will entirely buy Ichikoh Industries' mirror division for 5.2 billion yen (almost Rs 300 crore) in enterprise value. Motherson will have a design and production footprint in Japan as a result of this acquisition, allowing for better coordination and deeper partnerships with Japanese customers for both local and worldwide business.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Automotive Glass Market based on the below-mentioned segments:
Automotive Glass Market, Product Type Analysis
- Tempered
- Laminated
- Others
Automotive Glass Market, Application Analysis
- Windscreen
- Sidelite
- Backlite
- Side & Rearview Windows
- Sunroof
- Others
Automotive Glass Market, Vehicle Type Analysis
- Passenger Car
- Light Commercial
- Heavy Commercial
Automotive Glass Market, 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 Middle East & Africa
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