Press release
Surge in Automotive Glass Replacement Market: Projected Growth Rate of 10.3% CAGR from 2024 to 2025.
Automotive Glass Replacement Market
What Is The Projected Market Size Of The Global Automotive Glass Replacement Market And Its Growth Rate?
The automotive glass replacement market encapsulates a variety of products and applications. Key figures in the market growth include:
• The market, as of 2024, was valued at $36.89 billion
• It is projected to grow to $40.7 billion in 2025, experiencing a CAGR of 10.3%
What Is Driving The Growth In The Automotive Glass Replacement Market?
The marked growth within the automotive glass replacement market is largely due to surging automotive production worldwide. The increasing production levels cater to escalating demands for automotive glass replacements, subsequently fueling substantial market growth.
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Who Are The Key Players Driving Automotive Glass Replacement Market Growth?
The momentum of the automotive glass replacement market is swept by the growing sales of electric vehicles. Notable contributors include:
• The U.S. Energy Information Administration
• Wards Intelligence, which reported that BEV sales accounted for 16.0% of total new vehicle sales in 2023, up from 12.5% in 2022 and 9.0% in 2021.
What Are The Key Trends In The Automotive Glass Replacement Market?
Innovative technological advancements are significantly shaping the future of the automotive glass replacement market, with aspects such as:
• Emerging vehicle ownership trends and aging fleet
• Elevating accident and collision rates
• Environmental factors and weather conditions
• Evolving insurance coverage and claims
• Progressive safety regulations and compliance
What Are The Segments Of The Global Automotive Glass Replacement Market?
The global automotive glass replacement market is segmented into diverse types, including:
• Products: Tempered and Laminated
• Vehicle Types: Passenger Car and Heavy Commercial
• Applications: Windscreen, Backlite, Sidelite, Sunroof, and Other Applications
• End Use: Original Equipment Manufacturer (OEM) and Aftermarket Replacement (ARG)
Which Region Leads The Automotive Glass Replacement Market?
In terms of regional dominance, Safelite Group Inc., a US-based incorporated sector, strengthened its presence with the acquisition of Genuine Auto Glass in November 2022. The strategic move aimed to solidify its impressive customer service reputation, making it a forerunner in the regional market.
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What Is Covered In The Automotive Glass Replacement Market Global Market Report?
- Market Size Analysis: Analyze the Automotive Glass Replacement Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Glass Replacement Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Glass Replacement Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Glass Replacement Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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