Automotive Glass Market:
Growth opportunities in the automotive glass market look promising over the next six years. This is mainly due to expansion and technological advancements in the automotive sector and continuous upgradation in the design of the vehicles, which is forcing the market players to introduce novel products.
Automotive Glass Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The development in the automotive sector is the key driver accelerating the growth of the global automotive glass market. The “European Automobile Manufacturers Association” projected that the automotive sector indicates 7% of the total GDP of Europe, and more than 18.5 million buses, trucks, and cars that are manufactured each year, which represents the capability of this sector. Also, the ongoing upgradation in vehicle designs coupled with the technological expansions in this sector has simulated market players to launch novel products for automotive manufacturers. For instance, AIS, in FY 2018-19, offered its products by means of an attractive product portfolio for car models with many innovative changes, like a 2.8mm backlit for the new Wagon R and solar green glass and acoustic PVB for Yaris, which is thereby, strengthening the automotive glass market share.
However, excessive prices of raw material and high energy consumption may hinder the automotive glass market size.
Product Segment Drivers
Based on the product, tempered automotive glass is projected to lead the market over the forecast period. The product sustains 4-5 times more strength than afloat and is more profitable compared to laminated automotive glass. Moreover, it is one of the absolute glass used in automotive, primarily for windows and backlit. Other attractive features of the product include high strength, robustness, and low cost, contributing to the growth of automotive glass industry.
Regional Drivers
On the basis of regional coverage, North America is expected to dominate the market during the forecast period. This is because the economy is experiencing an expansion in the sale and production of commercial vehicles, which will fuel the market size. For example, GM in 2019 declared its investment of USD 24.0 million for raising production of GMC Sierra 1500 and Chevrolet Silverado 1500 pickup trucks at its Fort Wayne Assembly Plant in Indiana, U.S., which has surged the market growth.
Automotive Glass Market’s leading Manufacturers:
- PGW Auto Glass, LLC.
- Taiwan Glass Ind Corp
- Nippon Sheet Glass Co., Ltd
- AS AMENDED. GUARDIAN INDUSTRIES
- CORNING INCORPORATED
- AGC Inc.
- Şişecam
- Saint-Gobain
- com
- Central Glass Co., Ltd.
Automotive Glass Market Segmentation:
Segmentation by Product:
- Tempered
- Laminated
Segmentation by Vehicle Type:
- Passenger cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Segmentation by Application:
- Windscreen
- Backlight
- Sidelight
- Sunroof
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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