Automotive Glass Market to grow at over 7% CAGR To 2024
Introduction of smart technologies to improve UV protection, visibility, and comfort is supporting product sales. Automakers aim to reduce vehicle weight to enhance fuel efficiency which is supported by automotive glass. Proliferating transportation industry is proportional to automotive production trend thereby contributing significantly in automotive glass market size till 2024.
Laminated automotive glass market size will be worth over USD 11 billion over the projected time frame. Ease of repairing, prevention from penetration, clear visibility, and acoustic advantages are essential characteristics offered by this product. Tempered segment will exhibit over 6% CAGR during the study period. High robustness and strength owing to thermal and chemical treatment are boosting the product demand.
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Backlite segment will experience gains of above 5% between 2018 and 2024. High impact resistance, superior defrosting, and safe shattering properties are accountable for this growth rate. Sidelite segment size is set to observe sturdy growth rate due to rising technological advancements such as solar control, head-up display, water repellant, gorilla, etc. In addition, rising disposable income leads to increase in passenger car sales thereby supporting its penetration across the globe.
Passenger cars segment is estimated to generate more than USD 14 billion by 2024. Rising disposable income is creating demand for passenger cars especially in developing nations. Enhancing fuel efficiency and minimizing carbon footprint is stimulating the product demand in the segment.
Light commercial vehicles segment in the automotive glass market size will perceive growth of approximately 5% over the study period. Rising transportation network, rapid urbanization, and rising demand for vans and minitrucks are considerably accelerating the segment growth. Increasing accident rates in urban areas and highways has influenced the aftermarket product sales.
OEMs automotive glass segment accounted for more than 80% of the volume share in 2017. Rising safety norms in conjunction with expansion of automobile industry are surging overall industry growth over the forecast time span. Moreover, high quality products and accurate model make are preferred by the customers.
Aftermarket segment will pose approximately 5% growth rate over the study time span. Rising road accident rates and customer preference for low cost products will improve the segment growth. Regulations associated with patent and copyright infringement may negatively impact the industry growth over the study period.
Europe automotive glass industry is predicted to hold approximately 19% of the volume share by 2024. Stringent regulations associated with passenger safety and customers preferring superior quality product capable of handling extreme weather conditions will influence the product demand in region. Increasing production of supercars and luxury cars is supporting product innovation across various countries of the region.
China automotive glass industry from OEM is anticipated to observe more than 7% CAGR till 2024. Large presence of auto production facilities together with rapid industrialization owing to availability of land and resources at low cost is propelling the product penetration rate. The automotive industry plays a vital role in county’s economy, that has motivated its government to take certain initiatives for further development. It includes Rural Subsidy Program for Vehicle Purchases, Old for New Trade in Auto Program, and New Energy Vehicle Subsidy Policy contributing in vehicle sales across the country.
Global automotive glass market participants are AGC, Nippon, Guardian, Saint Gobain Sekurit, Xinyi, and Fuyao accounting for major industry share in 2017. Other notable players of the industry include Magna International, Inc., Gentex Corporation, PGW, Shenzhen Benson, and Webasto. Major players adopt merger and acquisition strategy such as in October 2016, Saint-Gobain acquired France Pare-Brise, comprising huge franchise network in automotive glass repair and replacement market in France. On similar lines, in April 2015, AGC acquired NordGlass, which is an ARG manufacturer located in Poland to strengthen its market share in Europe.
Browse key industry insights spread across 266 pages with 279 market data tables & 19 figures & charts from the report, “Automotive Glass Market Size By Product (Laminated, Tempered), By Application (Sidelite, Backlite, Windscreen), By End-Use (ARG, OEM), By Vehicle (Light Commercial Vehicle, Heavy Commercial Vehicle, Passenger Cars), Industry Analysis Report, Regional Outlook (U.S, Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, Australia, Malaysia, Indonesia, South Korea, Brazil, Argentina, Mexico, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
Chapter 4. Automotive Glass Market, By Product
4.1. Global automotive glass market share by product, 2017 & 2024
4.2.1. Global market estimates and forecasts, 2013 – 2024
4.2.2. Market estimates and forecast, by region, 2013 – 2024
4.3.1. Global market estimates and forecasts, 2013 – 2024
4.3.2. Market estimates and forecast, by region, 2013 – 2024
Chapter 5. Automotive Glass Market, By Application
5.1. Global automotive glass market share by application, 2017 & 2024
5.2.1. Global market estimates and forecasts, 2013 – 2024
5.2.2. Market estimates and forecast, by region, 2013 – 2024
5.3.1. Global market estimates and forecasts, 2013 – 2024
5.3.2. Market estimates and forecast, by region, 2013 – 2024
5.4.1. Global market estimates and forecasts, 2013 – 2024
5.4.2. Market estimates and forecast, by region, 2013 – 2024
Chapter 6. Automotive Glass Market, By Vehicle
6.1. Global automotive glass market share by vehicle, 2017 & 2024
6.2.1. Global market estimates and forecasts, 2013 – 2024
6.2.2. Market estimates and forecast, by region, 2013 – 2024
6.3.1. Global market estimates and forecasts, 2013 – 2024
6.3.2. Market estimates and forecast, by region, 2013 – 2024
6.4.1. Global market estimates and forecasts, 2013 – 2024
6.4.2. Market estimates and forecast, by region, 2013 – 2024
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