The latest report by IMARC Group, titled “Automotive Glass Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the automotive glass market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global automotive glass market size reached US$ 17.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 23.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.7% during 2023-2028. Automotive Glass means any glass that forms part of the Hired Vehicle and includes windscreens, windows, internal and external lights, and a sunroof. It is specially treated to protect vehicle passengers from the elements. Automotive Glass is manufactured into two types of safety glass to protect both the vehicle’s structure and the occupants inside. The first type is called laminated glass, which is for the windshield. The second glass is tempered glass, used for the vehicle’s side and back windows. This glass keeps you inside the car in an accident, shields you from flying sharp glass, retains the roof’s rigidity in a rollover, and allows the side airbag to protect you when deployed.
The global market is majorly driven by the increasing demand for electric and hybrid vehicles. In line with this, manufacturers of hybrid and electric vehicles are advancing due to a focus on pollution control and strict environmental restrictions, which is encouraging market growth. Furthermore, the development of cost-effective glass for automotive has been driven by the stabilization of glass prices, such as soda ash, lime, oxides of magnesium, potassium, and aluminum, as well as increasing gasoline prices. Apart from this, rising demand for vehicles in the transportation and logistics market and a focus on enhancing vehicle aerodynamics due to safety standards are positively influencing the market. The expansion of this market is being catalyzed by an increase in the sale of crossovers and SUVs, as well as inflating disposable income, particularly in developing countries. Moreover, the adoption of smart glass is creating a positive outlook for the market.
The growing use of sunroof glass in high-end vehicles, rising glass adoption, and the development of new iterations of glass design are other growth-inducing factors. Besides, consumers’ high living standards and rapid urbanization are propelling the market. The demand for luxury cars is significantly contributing to the need for automotive glass. To improve safety and the overall appearance of luxury vehicles, expensive automotive glass has been deployed extensively. Rapid growth in the transportation and logistics sector is strengthening the production of heavy-duty vehicles, which, in turn, is favoring the market. Additionally, growing emphasis on lightweight cars on account of rising harmful emissions from vehicles that have an adverse effect on the environment drives the glass penetration in the automotive industry.
Key Players Included in Global Automotive Glass Market Report:
- AGC Inc.
- Corning Incorporated
- Fuyao Glass Industry Group Co., Ltd
- Gentex Corporation
- Hitachi Chemical Co., Ltd.
- Magna International Inc.
- Nippon Sheet Glass Co., Ltd
- PGW Auto Glass, LLC
- Polytronix, Inc.
- Saint-Gobain Group
- MothersonSumi INfotech & Designs Ltd (MIND)
- Webasto SE
- Xinyi Glass Holdings Limited
Also, Read the largest automotive glass manufacturers worldwide
Key Market Segmentation:
- Laminated Glass
- Tempered Glass
- IR PVB
- Metal Coated Glass
- Tinted Glass
- Passenger Cars
- Light Commercial Vehicles
- Rear Quarter Glass
- Sideview Mirror
- Rearview Mirror
- Aftermarket Suppliers
- Active Smart Glass
- Suspended Particle Glass
- Electrochromic Glass
- Liquid Crystal Glass
- Passive Glass
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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