Press release
Automotive Glass Market Set to Surpass $28.3 Billion by 2031-Exclusive Report by Meticulous Research®
Industry Overview:
The automotive glass industry encompasses the production, distribution, and installation of glass components utilized in vehicles. It caters to various applications, including windshields, side windows, rear windows, and sunroofs, providing structural integrity and safety features crucial for vehicle occupants. Automotive glass, primarily made of tempered or laminated safety glass, ensures safety, prevents shattering, and offers additional functionalities such as UV radiation protection and heads-up display integration.
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Market Dynamics:
Increasing vehicle production and sales worldwide are driving the demand for automotive glass. Supported by safety regulations, evolving consumer preferences, and technological advancements, the automotive glass market is poised for significant growth.
Market Segmentation:
The report segments the global automotive glass market based on glass type, vehicle type, sales channel, application, and geography, providing comprehensive insights into various industry segments.
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Key Findings:
Glass Type Segmentation: Laminated glass is projected to dominate the market share and witness the highest CAGR during the forecast period, driven by increasing safety standards and its extensive use in windshields and side windows.
Vehicle Type Segmentation: Passenger cars are expected to hold the largest market share, while electric vehicles are anticipated to register the highest CAGR, attributed to supportive government policies, rising investments in EV development, and growing environmental concerns.
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Sales Channel Segmentation: OEMs are projected to account for the larger market share, with the highest CAGR, owing to increasing demand for safety and quality in automotive glass and growing adoption of advanced technologies in vehicles.
Application Segmentation: Windshields are expected to dominate the market share, while the sunroof segment is forecasted to register the highest CAGR, driven by increasing penetration in passenger cars and technological advancements.
Geographical Segmentation: Asia-Pacific is poised to lead the market share and exhibit the highest CAGR, driven by increasing vehicle production, rising demand for electric vehicles, and shifting consumer preferences in countries like China and India.
Key Players:
Leading players in the global automotive glass market include AGC Inc. (Japan), Nippon Sheet Glass Co., Ltd. (Japan), Fuyao Glass Industry Group Co., Ltd. (China), Saint-Gobain (France), and Magna International Inc. (Canada), among others.
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