Press release
COVID-19 Impact Affects Automotive Glass Market Globally in 2020
The World Bank's biennial report 'Connecting to Compete' stated that the current value of the global logistics industry stands at USD 4.3 trillion. Transport logistics is a critical component of international trade as it facilitates movement of goods and requires strong infrastructure to function smoothly. This infrastructure is well-developed and well-established in developed countries of the world.
For instance, in the World Bank's Logistic Performance Index, the top four countries of Germany, Sweden, Belgium, and Austria are from the European Union (EU) and the fifth is Japan from Asia. Efficient cross-border movement necessitates utilization of various types of vehicles and this is likely to escalate the demand for advanced automotive glass products in the forthcoming years.
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The automotive glass market report states that the value of this market stood at USD 16.53 billion in 2018. The report additionally addresses the following questions:
How have the market values been computed?
What are the central growth drivers of this market?
What hindrances does the market face?
Which are the leading automotive glass market trends?
Who are the top players and what are their dominant strategies?
Which are the most lucrative regions for the market?
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this Market:
https://www.fortunebusinessinsights.com/automotive-glass-market-102579
Competitive Landscape
Enhancement in Production Capacity to Stir Competitive Energies
The automotive glass market analysis reveals that raising production capabilities by key companies will be the prominent feature of competition in this market. These activities are aiding competitors to expand in foreign territories and penetrate untapped regions and countries, the analysis observes.
List of the Key Companies Operating in the Automotive Glass Market Report are:
o Guardian Glass LLC
o Nippon Sheet Glass Co. Ltd
o AGC Inc.
o Saint-Gobain Sekurit
o Magna International Inc.
o Xinyi Glass Holdings Limited
o Fuyao Glass Industry Group Co. Ltd
Market Driver
Booming Demand for Electric Vehicles to Accelerate Market Growth
Staggering air pollution levels have led to a dramatic shift in consumer preference from conventional to electric vehicles (EVs) in the past decade. In response, automakers have intensified their R&D efforts to cater to this paradigmatic change in consumer behavior. According to the International Energy Agency (IEA), the global EV fleet had gone beyond 5 million in 2018, representing an astounding rise of 63% from 2017 levels. Of these, nearly 45% are on road in China, the IEA further notes. The IEA also projects that up till 2030, the year-on-year increase in the global EV stock will be 44 million. This bodes well for this market as EVs will require sturdy glass solutions owing to their lighter weight and an expanding market for EVs will benefit the growth of the market for automotive glass.
Regional Analysis
Progressing Economies in Asia-Pacific to Aid Market Expansion
Asia-Pacific is slated to command the automotive glass market share as the market size in the region stood at USD 8.62 billion in 2018. The major propeller for the market in the region is the rapid economic development of India and China which is stoking the demand for luxury goods such as cars. In addition to this, high rate of population growth is encouraging carmakers to ramp up production in the region.
In Europe, growing preference for EVs and stringent regulatory norms for vehicular safety will primarily drive the market. In North America, increasing demand for glazing glass products has prompted manufacturers to innovate, which is auguring well for the market there.
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Detailed Table of Content:
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Merger, Acquisitions, and Partnerships
Distributor Analysis - For Major Players
Growth and Penetration Analysis
Porter's Five Forces Analysis
PEST Analysis
Vendor Landscape
Global Automotive Glass Market Analysis, Insights and Forecast, 2015-2026
Key Findings / Summary
Market Analysis, Insights and Forecast - By Vehicle Type
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Electric Vehicles
Market Analysis, Insights and Forecast - By Glass Type
Tempered
Laminated
Market Analysis, Insights and Forecast - By Application Type
Windshield
Sidelite
Backlite
Sunroof
Market Analysis, Insights and Forecast - By Region
North America
Europe
Asia pacific
Rest of the World
TOC Continued...!
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Industry Developments:
February 2020: Japan-based Nippon Sheet Glass's UMU Smart Window was selected LEXUS LM, Toyota's luxury car brand, which is set to be introduced China and the rest of Southeast Asia. The window features a light-controlled glass that can change visibility at the flick of a switch by the driver.
January 2019: Saint-Gobain, the French MNC, inaugurated a state-of-the-art flat glass production line (float) in Chennai, India. Constructed within the Saint-Gobain World Glass Complex, the facility houses advanced glass manufacturing plants for the automotive and construction industries, along with two coaters and two floats.
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