Automotive Glass Market
Automotive Glass Market Global Industry Assessment & Forecast
- By Glass Type Laminated Glass, Tempered Glass
- By Application Windshield, Back Glass, Door Glass, Quarter Glass, Vent Glass, Moon/Sun Roof
- By Vehicle Type Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles, Electric Vehicles
- By Sales Channel Original Equipment Manufacturers (OEM), Aftermarket
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2022 - 2028|
|Historical Years:||2016 - 2021|
|Revenue 2021:||USD 23.2 Billion|
|Revenue 2028:||USD 31.2 Billion|
|Revenue CAGR (2022 - 2028):||5.1%|
|Fastest Growing Region (2022 - 2028)||Asia Pacific|
|Largest Region (2021):||Asia Pacific|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request Customization Speak To Analyst
Global Automotive Glass Market is valued at in 2022 and is projected to reach a value of USD 31.2 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 5.1% over the forecast period.
The Automotive Glass market is primarily driven by the increasing demand for vehicles and the growing preference for premium and luxury cars. The rising disposable incomes and the growing demand for safety and security features in vehicles are also fuelling the growth of the Automotive Glass market.
Automotive Glass Market Size, 2021 To 2028 (USD Billion)
Demand from the automobile industry is on the rise due to factors such as the increasing production of SUVs around the world and the widespread implementation of smart glass technology in premium luxury vehicles. Safety glass regulations, the need for lightweight glasses in automobiles, and the advent of cutting-edge smart glass technologies that enhance both visibility and safety all have an impact on the demand for Automotive Glass.
However, there are several restraints that limit the growth of the Automotive Glass market. Firstly, the high cost of raw materials such as sand, soda ash, and limestone is a major challenge for market players. Secondly, the stringent regulations regarding the use of Automotive Glass in vehicles are another restraint hampering the market growth. Moreover, the volatile nature of crude oil prices is also a key factor limiting market expansion.
Top Market Trends:
● The demand for Automotive Glass is increasing as more vehicles are being manufactured. This is especially true in emerging markets such as China and India, where the automotive industry is booming.
● Advances in technology are enabling manufacturers to produce stronger and more durable Automotive Glass, which is driving down costs and making it more affordable for consumers.
● Electric vehicles are becoming increasingly popular, and that is driving the market expansion for Automotive Glass.
● Increasing demand for safety features: Safety is becoming an increasingly important factor for vehicle buyers, and this is leading to a growth in demand for Automotive Glass with safety features.
● Growing demand for luxury vehicles: Luxury vehicles are becoming increasingly popular, and this is driving the demand for Automotive Glass with luxury features.
● The increasing popularity of autonomous vehicles is leading to new demand for specialized glass, such as Heads-Up Displays (HUDs) and other display systems.
The Automotive Glass market is segmented by Glass Type, application, vehicle type, Sales Channel, and Region. Based on the Glass Type the market is further segmented into Laminated Glass and Tempered Glass. Furthermore, based on the Application, the market is categorized into Windshield, Back Glass, Door Glass, Quarter Glass, Vent Glass and Moon/Sun Roof. Moreover, based on the Vehicle Type, the Automotive Glass market is further divided into Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles, and Electric Vehicles. In addition, based on Sales Channel, the market is further divided into Original Equipment Manufacturers (OEM) and Aftermarket. Likewise based on the Region, the market is further divided into North America, Europe, Asia-Pacific, and Latin America, and Middle East & Africa.
Based on Application
The market for automobile glass can be broken down into different submarkets based on the different applications it serves, the two most important of which are Windshields and side windows. Due to the growing need for Advanced Driver Assistance Systems (ADAS) and the consequent requirement for larger windshields, it is anticipated that the windshield segment would develop at a higher rate than the side window segment over the next few years. It is also anticipated that the side window market would expand as a result of the growing popularity of SUVs and other cars that feature big side windows.
Based on Vehicle Type
The Automotive Glass market can be segmented based on vehicle type. Passenger cars, commercial vehicles, and off-highway vehicles are the three major vehicle types. The Automotive Glass market for passenger cars can be further segmented into original equipment manufacturer (OEM) and aftermarket. The OEM segment is expected to grow at a higher rate during the forecast period.
Passenger cars are expected to account for the largest share of the Automotive Glass market. The growing demand for passenger cars, particularly in the Asia Pacific and Latin America, is expected to drive the market for Automotive Glass. The commercial vehicle segment is expected to grow at a moderate rate during the forecast period. The off-highway vehicle segment is expected to grow at a slower rate than the other segments.
Based on Sales Channel
The Original Equipment Manufacturers (OEM)segment is anticipated to grow at a higher CAGR (Compound Annual Growth Rate) during the forecast period. The OEMs segment comprises companies that manufacture glass for new vehicles, while the aftermarket suppliers segment comprises companies that manufacture glass for replacement purposes. Additionally, due to the construction of new automobile assembly plants, especially those dedicated to the production of electric vehicles, the original equipment manufacturer (OEM) segment is expected to experience a rapid expansion.
Based on Geography
The Asia Pacific is the largest market for Automotive Glass, followed by Europe and North America. The growing automotive industry in Asia-Pacific and the growing demand for luxury and premium cars are the major factors driving the growth of the Automotive Glass market in the region. The increasing demand for luxury vehicles in the region can be attributed to the consumers' shifting priorities and increased purchasing power.
The manufacturers have responded by putting a premium on efficiency gains to keep up with the surging demand for automobiles. Due to this, the number of cars being manufactured with sunroofs has increased, which is good news for the industry as a whole.
Recent Developments:● AGC Automotive has developed a new type of glass that is said to be unbreakable. This could potentially revolutionize the Automotive Glass market, making it much safer for drivers and passengers.
● PPG Industries has developed a new type of coating for Automotive Glass that is said to be more durable and resistant to scratches. This could improve the appearance of Automotive Glass, as well as its performance.
● Asahi Glass has developed a new type of self-cleaning glass. This glass is designed to repel water and dirt and could keep cars cleaner for longer.
● Saint-Gobain has developed a new type of glass that is said to be lighter and stronger than traditional Automotive Glass. This could improve fuel economy and performance, as well as make the glass more environmentally friendly.
The key players in the Global Automotive Glass market include- Dura Automotive Systems, Saint-Gobain S.A., Asahi Glass Co. Ltd., Fuyao Glass Industry Group Co. Ltd., Nippon Sheet Glass Co. Ltd., Xinyi Glass Holding Ltd., Central Glass Co. Ltd., Glas Trosch Holding AG, Gentex Corporation, Magna International Inc., Vitro S.A.B de C.V., Guardian Industries Corporation and others.
Segmentation of the Global Automotive Glass Market:
Regions & Countries Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
Frequently Asked Question
The global Automotive Glass valued at USD 23.2 Billion in 2020 and is expected to reach USD 31.2 Billion in 2028 growing at a CAGR of 5.1%.
The prominent players in the market are Dura Automotive Systems, Saint-Gobain S.A., Asahi Glass Co. Ltd., Fuyao Glass Industry Group Co. Ltd., Nippon Sheet Glass Co. Ltd., Xinyi Glass Holding Ltd., Central Glass Co. Ltd., Glas Trosch Holding AG, Gentex Corporation, Magna International Inc., Vitro S.A.B de C.V., Guardian Industries Corporation.
The market is project to grow at a CAGR of 5.1% between 2021 and 2028.
The driving factors of the Automotive Glass include
- Increasing applications of glass in SUVs & penetration of smart glass and sunroofs
Asia Pacific was the leading regional segment of the Automotive Glass in 2020.