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Surging Automotive Production Fuels Growth In Automotive Glass Replacement Market: Powering Innovation and Expansion in the Automotive Glass Replacement Market by 2025
Automotive Glass Replacement Market
What Is the Expected CAGR for the Automotive Glass Replacement Market Through 2025?
The market for automotive glass replacements has seen swift growth in the past few years. The market, which was worth $36.89 billion in 2024, is projected to rise to $40.7 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 10.3%. The expansion during the previous years can be traced back to factors such as trends in vehicle ownership and an aging fleet, occurrences of accidents and collisions, environmental influences and weather conditions, insurance policies and claims, as well as safety protocols and compliance requirements.
What's the Projected Size of the Global Automotive Glass Replacement Market by 2029?
In the coming years, the automotive glass replacement market is predicted to experience robust growth. By 2029, it is projected to expand to a valuation of $58.51 billion, with a compound annual growth rate (CAGR) of 9.5%. Several factors are contributing to this estimated growth in the forecast period, including the implementation of advanced driver assistance systems (ADAS), advancements in glass technology, increased urbanization and traffic density, as well as an enhanced focus on vehicle aesthetics and customization and a rising consciousness about safety and security. Several anticipated trends within this period include an increased emphasis on improved safety standards, advancements in glass coating technologies, the incorporation of high-end materials, innovations in customer service and appointment scheduling through digital platforms, and the growth of electric and autonomous vehicles market.
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Top Growth Drivers in the Automotive Glass Replacement Industry: What's Accelerating the Market?
The rise in vehicle production is likely to stimulate the expansion of the automotive glass replacement market. The term automotive production pertains to the large-scale manufacture of identical vehicle models for public purchase. A surge in vehicle production will naturally lead to a rise in the need for automotive glass production and replacement, due to factors such as wear and tear and safety regulations. For instance, in 2023, the Organisation Internationale des Constructeurs d'Automobiles (OICA), an automobile manufacturing association based in France, reported a substantial growth in the global automotive industry, with total vehicle production hitting 93546599 units, a significant leap from the 85016728 units produced in 2022. Hence, the growth of the automotive glass replacement market is being fueled by the rise in automotive production.
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What Trends Will Shape the Automotive Glass Replacement Market Through 2029 and Beyond?
The progression in technology is a growing trend observed in the automotive glass replacement industry. Prime corporations within the industry are concentrating on creating novel solutions to solidify their market position. For instance, Automotive Glass Experts, an American firm renowned for their manufacturing and application of supreme automotive glass products and services, entered a partnership with Inspektlabs Inc., another American company known for offering artificial intelligence-driven inspection technology to augment vehicle and property evaluations. This collaboration aims to create a sophisticated AI platform for automotive glass damage evaluation on their website, striving to achieve 98% precision while enabling users to schedule services and acquire comprehensive reports digitally. This pioneering solution not only elevates user accessibility and decision-making process but also advocates for environmental sustainability by decreasing unnecessary commuting and CO2 emission. The product is an extremely slender gorilla glass piece, having an exterior ply that is fifty-two percent thicker making this windscreen both lightweight and resilient. It also exhibits superior resistance to chips, rifts, and splits caused by stones.
What Are the Main Segments in the Automotive Glass Replacement Market?
The automotive glass replacement market covered in this report is segmented -
1) By Product: Tempered, Laminated
2) By Vehicle Type: Passenger Car, Heavy Commercial
3) By Application: Windscreen, Backlite, Sidelite, Sunroof, Other Applications
4) By End Use: Original Equipment Manufacturer (OEM), After market Replacement (ARG)
Subsegments:
1) By Tempered: Side Windows, Rear Windows, Sunroofs
2) By Laminated: Windshields, Front Side Windows, Rear Windshields
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Which Top Companies are Driving Growth in the Automotive Glass Replacement Market?
Major companies operating in the automotive glass replacement market include AGC Inc., Corning Incorporated, Fuyao Glass Industry Group Co. Ltd., Nippon Sheet Glass Co. Ltd., Compagnie de Saint-Gobain SA, Xinyi Glass Holdings Co. Ltd., Central Glass Co. Ltd., Guardian Industries LLC, Vitro S.A.B. de C.V., Pittsburgh Glass Works LLC, Samvardhana Motherson Group, Magna International Inc., PGW Auto Glass LLC, Olimpia Auto Glass Inc., Shatterprufe Ltd., Taiwan Glass Ind Corp., Kaycan Ltd., Webasto Group, Bent Glass Design Inc., Gerber Glass & Trim Co., Safelite Inc., S.I. Howard Glass Co. Inc., SecurGlass LLC, Swift Glass Company Inc., The Pink Plumber
Which Regions Will Dominate the Automotive Glass Replacement Market Through 2029?
Asia-Pacific was the largest region in the automotive glass replacement market in 2024. It is expected to be the fastest-growing region in the automotive glass replacement market report during the forecast period. The regions covered in the automotive glass replacement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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