Automotive Glass Market Booming the Industries by Ravisisng keyplayers | Fuyao Group Automobile Glass Co., Ltd., Asahi Glass Company Ltd, Saint Gobain S.A., Nippon Sheet Glass Co., Ltd., Magna International, Inc., Xinyi Glass Holdings Ltd, and Gentex Corp

Automotive glasses are aesthetics glass of a vehicle that protects passenger from harsh exterior environment such as rain, sun, and wind. Automotive glasses are designed in such a way that it contributes minimal weight to the vehicle, withstand high external forces, and minimize the strain induced on the vehicle. Hence, all these features increase comfort and aid in protecting passenger from external environmental factors such as dust and wind.

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Rising demand for vehicles is one of the major factors driving growth of the market

Major factors driving growth of the automotive glass market is increasing demand for vehicles, globally. For instance, according to International Organization of Motor Vehicle Manufacturers statistics (OICA), the total number of vehicles sold in 2016 were 94 million units and it increased to 96 million units in 2017, globally. Hence, increasing demand for vehicles is driving OEMs to manufacture more vehicles to meet consumer demand, which will proportionately increase demand for automotive glass. For instance, according to the OICA, the total number of vehicles produced in 2016 was 95 million units and it has grown up to 97million units, globally. Moreover, increasing per capita income of individuals has proportionally increased the sales of vehicles, which is further boosting growth of the automotive glass market. For instance, according to the World Bank Group, GDP per capita has increased globally from US$ 9,509.4 in 2010 to US$ 10,150.8 in 2016. This is an indicator of increasing standard living, which in turn has aided in high sales of vehicles.

Global Automotive Glass Market: Key Trend

One of the latest trend gaining attraction in the market is the exponential rise in adoption of solar control glasses for vehicles. Major benefits associated with use of solar control glasses is that it helps in improving fuel efficiency. The usage of solar control glass helps in keeping the vehicle cooler on the inside, which reduces the need for air conditioner, which in turns makes the car fuel efficient. For instance, in 2014, SEKISUI S-LEC, LLC introduced S-LEC Solar Control Films.

Global Automotive Glass Market: Segment Trends

Among vehicle types, passenger vehicles segment is the fastest growing segment, owing to increasing sales of these vehicles worldwide. According to International Organization of Motor Vehicle Manufacturers, in 2016, around 70 million units of passenger car were sold worldwide. Growing passenger cars per thousand inhabitants over the past few years have reached to 182 per thousand inhabitants in 2015 from 178 in 2014, which is major factor fuelling the growth of passenger cars. Hence, the increasing sales of passenger vehicles will inadvertently increase the demand of automotive glass for this segment.

Global Automotive Glass Market: Regional Insights

Asia Pacific held a dominant position in the global automotive glass market in 2017 and expected to retain its dominance during the forecasted period (2018–2026). This growth is attributed to presence of emerging economies in this region such as India, China, and Japan positioned as the growth engines in the automotive sector. According to Organisation Internationale des Constructeurs d'Automobiles (OICA) in 2016, 39.4 million units of passenger cars were sold in this region, up from 36.1 million units in 2015. It also stated that in 2016, China held 61.8% share of the total Asia Pacific passenger cars sales and 35.1% of the global passenger cars sales.

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Global Automotive Glass Market: Competitive Landscape

Key players operating in the global automotive glass market are Fuyao Group Automobile Glass Co., Ltd., Asahi Glass Company Ltd, Saint Gobain S.A., Nippon Sheet Glass Co., Ltd., Magna International, Inc., Xinyi Glass Holdings Ltd, and Gentex Corporation.

Global Automotive Glass Market: Taxonomy

By Glass Type

• Laminated Glass
• Tempered Glass
• Other Glass

By Technology

• Active
• Passive

By Applications

• Windshield
• Sidelite
• Backlite
• Rear Quarter Glass
• Sideview Glass
• Rearview Glass

By Vehicle Type

• Passenger Car
• Light Commercial Vehicle
• Truck
• Bus

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East
• Africa

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This release was published on openPR.