Press release
Automotive Glass Market Global Growth Analysis of Top Key Players - AGC, Nippon, Guardian, Saint Gobain Sekurit, Xinyi, Fuyao, Magna International, Inc., Gentex Corporation, PGW, Shenzhen Benson, and Webasto
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.
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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.
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 till 2024.
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.
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.
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.
Complete report for 2018-2024 on Automotive Glass Market is now available at https://bit.ly/2wZbETl
Related Report:
Global Automotive Glass Market 2018 by Manufacturers, Regions, Type and Application, Forecast to 2024
Global Automotive Glass Market research report is added by Market Study report by covering all major market aspects. The report also touches the key scenarios like top players, competition, types, applications, regions, recent developments and future market predictions.
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