Dublin, Dec. 05, 2022 (GLOBE NEWSWIRE) -- The "Automotive Glass Market by Type (Laminated, Tempered), Application (Windshield, Sidelite & Backlite, Side & Rearview Mirror), Smart Glass (Technology, Application), Vehicle Type (ICE & Electric), Material, Aftermarket and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The automotive glass market is estimated to grow from USD 23.6 billion in 2022 to USD 30.6 billion by 2027, at a CAGR of 5.4% over the forecast period. The market is driven by the growing demand for smart glass technologies. Increasing average glass usage per vehicle and the growing trend of use of laminated side glazing are expected to increase automotive glass market value. Countries such as China and the US are experiencing high demand for premium luxury cars, thereby driving the automotive glass market.
Passenger Car is the largest glass market.
Passenger cars have showcased the largest demand for glass and smart glass as they contribute to ~60% of global vehicle production. The growing average glass usage per vehicle has also increased significantly in the last couple of years, owing to increased demand for luxury vehicles and SUVs. Vehicle manufacturers have started increasing the size of windshields to merge with the vehicle's roof. These extended windshields give the vehicle a sporty look and extend the driver's field of view. The global SUV share in the total passenger vehicle segment increased from ~35% in 2018 to ~45% in 2021. This increase in demand for SUVs is majorly observed in the Asia Pacific region. As SUVs are larger than passenger cars, the average glass area in these vehicles is usually more than hatchbacks or sedans. Alternatively, key luxury car manufacturers such as Mercedes, Audi, BMW, and Volvo, among others, have started incorporating smart glass technology in their respective models, which would drive the demand for smart glass globally.
The Asia Pacific is the largest passenger car automotive glass market. Countries such as China, Japan, and India are the major automotive glass markets in the Asia Pacific.
Sunroof is the largest and fastest-growing segment for the Automotive Smart Glass.
The quick shading, light & heat adjustment, and protection from harmful sun rays make smart glass the most widely used for sunroof application. Luxury cars and SUVs hold the largest penetration of sunroofs. The major technology used in sunroofs is a suspended particle device (SPD), which prevents UV rays from entering the vehicle, thus lowering power consumption for air conditioning. These further increases vehicle efficiency, making it an ideal choice for sunroof application. Therefore, with the growing developments in smart glass, the market size of sunroof applications is expected to grow significantly.
Key OEMs such as Mercedes-Benz, Lincoln, and BMW use smart glass in their sunroofs. Major players in the sunroof segment for the automotive industry include Research Frontiers, SPD Control System, Gentex Corporation, Citala, and Asahi Glass.
Market Dynamics
Drivers
- Increasing Applications of Glass in SUVs & Penetration of Smart Glass and Sunroofs
- Growing Demand for SUVs with Increased Glass Applications
- Increase in Sunroof Penetration
- OE-Fitted Laminated Side Glazing
Restraints
- High Initial Capital and Set-Up Cost of Automotive Glass Plant Restricts Geographic Expansion
- Polycarbonate Glazing Emerging as Alternative to Automotive Glass
Opportunities
- Use of Smart Glass
- Device Embedded Glass
Challenges
- Low Cost of Glass in Independent Aftermarket
- Safety Concerns Regarding Laminated Glass
- Need for Optimum Thickness and Strength
| Report Attribute | Details |
| No. of Pages | 207 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $23.6 Billion |
| Forecasted Market Value (USD) by 2027 | $30.6 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Automotive Glass Market, by Glass Type
7 Automotive Glass Market, by Application
8 Automotive Glass Market, by Vehicle Type
9 Automotive Glass Market, by Material
10 Automotive Smart Glass Market, by Technology
11 Automotive Smart Glass Market, by Application
12 Automotive Glass Market, by Electric Vehicle Type
13 Automotive Glass Market, by Electric Commercial Vehicle Type
14 Automotive Glass Aftermarket, by Vehicle Type
15 Device Embedded Glass Market, by Application
16 Automotive Windscreen Market, by Application
17 Automotive Glass Market, by Region
18 Recommendations
19 Competitive Landscape
20 Company Profiles
21 Appendix
Companies Mentioned
- AGC Inc.
- AGP Group
- Central Glass Co. Ltd.
- Compagnie De Saint-Gobain S.A.
- Corning Incorporated
- Fuyao Glass Industry Group Co. Ltd.
- Gauzy Ltd
- Gavista
- Gentex Corporation
- Kochhar Glass (India) Pvt. Ltd
- LTI Smart Glass Inc.
- Magna International Inc.
- Motherson Sumi Systems Limited
- Nippon Sheet Glass Co. Ltd.
- Soliver Nv
- Vision Systems - Architect of Innovations
- Vitro
- Webasto Group
- Xinyi Glass Holdings Limited
- Pipecam
For more information about this report visit https://www.researchandmarkets.com/r/m1yvnp
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