Automotive Glazing Market:
Growth opportunities in the Automotive Glazing Market look promising over the next six years. This is mainly due to the rising adoption and launching of luxurious vehicles requiring sunroof and rear glass glazing systems and continuous advancement in the glazing systems.
Automotive Glazing Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The drivers responsible for the growth of the automotive glazing market includes the rising apprehension towards carbon emissions, ongoing expansion in glazing systems along with the surging acquisition and development of luxurious vehicle which entails the need of sunroof and glazing systems. The OEMs regarded these glazing as an important element of a vehicle to define its style and character and reduce overall weight. Thus, an increase in demand for lightweight material in automotive component has supported the market growth.
The augmenting sales of advanced electric and hybrid vehicles across the world has strengthened the market size. As per the International Energy Agency Organization, the global sale of the electric vehicle in 2019 reached nearly 7.2 Million, extending to 2 Million per year due to the favorable government plans and strategies. Moreover, major players are involved in developing the latest technology-based luxurious vehicles with improved fuel efficiency, which has resulted in market growth. Hyundai, in 2020, developed the Genesis G80 luxury sedan digitally with advanced glazing at sunroof and window shields. However, high manufacturing costs led by the variations in the prices of raw materials including metal and polycarbonate will curb the market size.
Glass Type Segment Drivers
Based on the glass type, the fixed windows are predicted to dominate the market over the forecast period. This is primarily attributed to the rising introduction of new premier automotive by key manufacturers to save fuel consumption. For example, Tata Motors’ luxury brand Jaguar Land Rover established ten models in India, including electrified vehicles.
Regional Drivers
Based on the regional coverage, Asia-Pacific is expected to lead the market during the forecast period. This is attributed to the prevalence of many automotive component manufacturing companies, with rising stringent emission norms for opting lightweight materials and increasing production and sale in most populous countries like India and China. According to the Automobile Component Manufacturers Association (ACMA), automobile component revenue in India in 2019 totalled USD 49.3 Billion and is expected to reach USD 200 Billion in revenue by 2026, resulting in bolstering market demand.
Automotive Glazing Market’s leading Manufacturers:
- Webasto SE
- Teijin
- Covestro AG
- Chi Mei Corporation
- Corning Inc.
- Webasto SE
- Fuyao Glass Industry Group Co., Ltd
- Guardian Company
- Mitsubishi
- Sabic
- KRD Sicherheitstechnik
- Freeglass
- Idemitsu
- Nippon Sheet Glass Company Limited
- Guardian Company
Automotive Glazing Market Segmentation:
Segmentation by Product
- Tempered
- Laminated Glass
- Polycarbonate
- Others
Segmentation by Vehicles Type
- Heavy Commercial Vehicles
- Light Commercial Vehicles
- Passenger Vehicles
- Electric Vehicles
- Others
Segmentation by Glass Type
- Single Panels
- Double Glass
- Fixed Windows
- Sliding Glass
Segmentation by Piece Type
- Front Window Shield
- Side Windows
- Roofing Systems
- Windscreen
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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