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Latest Automobile Industry News On " Automotive Glass Market " 2018 Key Players are AGC, Saint Gobain Sekurit, Fuyao, NSG, Nippon, Guardian, Webasto, PGW, Shenzhen Benson, PPG Industries, and Gentex Corporation.
Automotive Glass Market
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Global automotive glass market is predicted to be valued more than USD 21 billion by 2024. Increasing vehicle sales across the globe together with increasing surface area of automobiles covered with glass is primarily driving the industry. Rising product consumption per vehicle owing to changes in car designs is enhancing the business. Inclination towards large windscreens is driving the automotive glass industry over the projected period.
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.
Automotive glass market by product
• Laminated
• Tempered
Automotive glass market by application
• Sidelite
• Backlite
• Windscreen
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Laminated automotive glass market 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.
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 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.
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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.
Related Report:
Automotive LiDAR Market Size, By Type (Mechanical, Solid-State), By Vehicle (Autonomous, Semi-Autonomous), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Netherlands, Sweden, China, India, Japan, South Korea, Singapore, Brazil, Mexico, UAE), Growth Potential, Competitive Market Share & Forecast, 2018 – 2024
https://www.gminsights.com/industry-analysis/automotive-lidar-market
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