Portland, OR, Oct. 31, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global automotive smart window market generated $1.4 billion in 2021, and is projected to reach $8.6 billion by 2031, growing at a CAGR of 20.1% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.4 billion |
| Market Size in 2031 | $8.6 billion |
| CAGR | 20.1% |
| No. of Pages in Report | 245 |
| Segments Covered | Technology, type, vehicle type, and region. |
| Drivers | Rise in demand for automotive smart windows in the transportation sector. |
| Surge in demand for electric and hybrid vehicles. | |
| Opportunities | Rise in demand for solar energy offered by automotive smart windows. |
| Need for blocking ultra-violet rays of sunlight. | |
| Restrains | Huge costs of automotive smart windows. |
COVID-19 Scenario:
- The outbreak of the COVID-19 has had a negative impact on the growth of the global automotive smart window market, owing to the occurrence of lockdowns in various countries across the globe which led to the shutdown of manufacturing units.
- The rampant spread of the COVID-19 across the globe affected supply chain activities, thereby adversely impacting the growth of the global market.
- Furthermore, the shortage of skilled workforce and less access to raw materials due to the strict ban on the import and export of raw materials further increased the negative impact of the COVID-19 pandemic on the global market.
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The report offers a detailed segmentation of the global automotive smart window market based on type, technology, vehicle type, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest-growing segments and highest revenue generation that is mentioned in the report.
Based on type, the OLED segment held the major market share in 2021, holding more than three-fifths of the global automotive smart window market share, and is expected to maintain its leadership status during the forecast period. However, the self-repairing segment, on the other hand, is expected to cite the fastest CAGR of 22.12% during the forecast period.
Based on technology, the suspended particle device (SPD) segment held the largest market share in 2021, accounting for nearly two-thirds of the global automotive smart window market share, and is expected to maintain its leadership status during the forecast period. However, the electrochromic (EC) segment, on the other hand, is expected to cite the fastest CAGR of 23.71% during the forecast period.
Based on vehicle type, the passenger cars segment held the major market share in 2021, contributing nearly three-fifths of the global automotive smart window market share, and is expected to maintain its leadership position during the forecast period. However, the medium and heavy commercial vehicles segment, on the other hand, is expected to cite the fastest CAGR of 23.58% during the forecast period.
Based on region, the market across the North American region held the major market share in 2021, holding nearly one-third of the global automotive smart window market share. However, the Asia-Pacific region is expected to maintain its leadership status during the forecast period. In addition, the same region is expected to cite the fastest CAGR of 22.79% during the forecast period. The report also analyses other regions such as Europe, North America, and LAMEA.
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The key players analyzed in the global automotive smart window market report include Corning Incorporated, Hitachi, Ltd., Gentex Corporation, Pleotint LLC, PPG Industries, Inc., RavenWindow, Compagnie de Saint-Gobain S.A., View, Inc., AGC INC., and Research Frontiers Inc.
The report analyzes these key players in the global automotive smart window market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the automotive smart window market analysis from 2021 to 2031 to identify the prevailing automotive smart window market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the automotive smart window market forecast and segmentation assists to determine the prevailing automotive smart window market opportunity.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global automotive smart window market size trends, key players, market segments, application areas, and automotive smart window market growth strategies.
Key Market Segments
Type
- OLED Glass
- Self-dimming Window
- Self-Repairing
Technology
- Electrochromic (EC)
- Polymer Dispersed Liquid Device (PDLC)
- Suspended Particle Device (SPD)
Vehicle Type
- Light Commercial Vehicles
- Medium and Heavy Commercial Vehicles
- Passenger Cars
By Region
- North America (Mexico, U.S., Canada)
- Europe (UK, Germany, France, Rest Of Europe)
- Asia-Pacific (China, Japan, India, Rest Of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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