Global Automotive Glass Market expected to record a CAGR of ~6% during the forecast period (2017-2028): Ken Research

What Is The Size Of Global Automotive Glass Industry?

Global Automotive Glass market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.

The Automotive Glass Market is largely driven by the increasing demand for electric, hybrid, and luxury vehicles.

The automotive industry is surging worldwide as manufacturers are continuously upgrading vehicles as per customer demand, and governments' active involvement to speed up the production of automobiles. Growing demand for smart glass is also one of the key factors driving this market. Smart glass such as HUD can display the fuel level, speed, temperature, and other warnings.

Furthermore, high initial cost to set up a glass manufacturing plant, along with further repair and maintenance costs, is a restraining factor for the automotive glass market. Major players operating in this segment such as Fuyao Glass, Saint-Gobain, and others, preferred to expand their existing plant rather than invest in a newer facility. These strategies restrict players to expand their geographical presence.

COVID-19 has decelerated the growth of the automotive glass market. This is because of the temporary shutdown of assembly lines, disruption of the supply chain, restriction on manufacturing. But as the market is recovering and restrictions are easing down, it is estimated that the automotive glass market will recover within the forecasted period.

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Global Automotive Glass Market By Glass Type

The Global Automotive Glass market is segmented by Glass Type into Laminated Glass and Tempered Glass.

Tempered glass segment held the largest market share of the Global Automotive Glass Market in 2022, owing to the lower cost and better durability than other glasses.

Tempered glass is a type of glass manufactured through heat or chemicals to provide safety. In the event the glass breaks, it does not shatter into big pieces but rather into thousand pieces that do not have a sharp edge.

Tempered glass is most commonly used because of its lower cost than laminated glass. It is used in the backlite, windshield, and sideline door.

Global Automotive Glass market By Vehicle Type

The Global Automotive Glass Market is segmented by Vehicle type into Passenger Car, Light Commercial, Heavy Commercial and Electric Vehicles.

The passenger car segment accounted for the largest market share in 2022, due to a shift in the trend of consumer behavior and the growing middle-class population.

Passenger cars refer to vehicles designed and constructed for carrying individuals. Comprising of not more than eight seats inclusive of the driver's seat, and having a maximum mass not exceeding 3.5 tones. There are various kinds of passenger cars including sports, luxury, family-oriented, small cars, and sports utility vehicles (SUVs). Growing environmental concerns led to low-emission and lightweight vehicles on the road, which is also a driving factor for the passenger car segment.

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Key Topics Covered in the Report

Snapshot of the Global Automotive Glass Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Automotive Glass Market
Historic Growth of the Overall Global Automotive Glass Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter's 5 Forces Analysis of the Global Automotive Glass Industry
Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
COVID-19 Impact on the Overall Global Automotive Glass Market
Future Market Forecast and Growth Rates of the Total Global Automotive Glass Market and by Segments
Market Size of Vehicle Type/Application Segments with Historical CAGR and Future Forecasts
Analysis of the Global Automotive Glass Market
Major Production/Supply and Consumption/Demand Hubs in Each Major Region
Major Continent-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Continent

Major Players Mentioned in the Report

FUYAO Glass Industries Co., Ltd.
Nippon Sheet Glass Co., Ltd
Saint-Gobain
Xinyi Glass Holdings Limited
AGC Inc.
Central Glass Co., Ltd.
Corning Incorporated
Guardian Industries Holdings
Sisecam
Webasto Group

Notable Emerging Companies Mentioned in the Report

Magnum Tuff India Private Limited
Glavista
Speedy Autoglass
Mobss Windshield Pvt. Ltd.
Vehicle Glass Company Ltd.

Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report

Automotive Glass Manufacturing Companies
Soda Ash Suppliers
Silica and Sand Suppliers
Government & Regulatory Authorities
Automotive Research Institutes
Investors in Automotive Industry
Smart Glass Manufacturers
Automotive OEMs
Start-ups & Incumbents in Automotive Electronics
Automotive Testing & Inspection Companies
Company Research and Development Institutes
Market Research & Consulting Firms
Banking and Financial Service Providers
Investment Banks Targeting Automotive Component Industry

Time Period Captured in the Report

Historical Period: 2017-2021
Forecast Period: 2022-2028F

For more insights on the market intelligence, refer to the link below: -

https://www.kenresearch.com/business-research/global-automotive-glass-market-outlook-2028/

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.