Press release
Automotive Glass Market Soaring at 7%CAGR During the Period 2017 - 2024
Automotive Glass Market size will surpass USD 29 billion, or over 1,900 million sq.m by 2024; according to a new research report.
Global automotive glass market for passenger vehicles will generate over USD 22 billion by 2024. Upsurge in demand for passenger cars, particularly in the emerging countries and their dynamic demographics will be key influencers. Fuel efficiency and carbon footprint regulations will remain key industry challenges, while inclination towards large windscreens along with growing demand for automotive sunroof market also play an important role in evolution.
The advent of smart technology, to enhance visibility, protection from sunlight and improved comfort will support product penetration, along with the aim to reduce vehicle weight and improve fuel efficiency. Growth outlook for the transportation industry, being correspondingly mirrored in auto production trends will be a critical factor for automotive glass market demand.
Laminated automotive glass market will generate over USD 9 billion valuation by 2024. Prevention from penetration, easy reparability, sound proofing and clear visibility are the substantial properties encouraging the product consumption. Consistent innovation in features has increased the overall value and complexity of the product delivered to OEMs.
Tempered products are set to witness over 6% growth up to 2024. High strength and toughness due to controlled chemical and thermal treatment are key factor driving product demand. Backlite will observe gains over 5% in the coming years. Safe shattering, high impact resistance and superior defrosting properties are major industry trends.
Original Equipment Manufacturers accounted for more than 80% of the overall industry share in 2015. With OEMs expanding to new regional frontiers, in terms of production, assembly as well as service stations, this avenue will remain dynamic & challenging. ARG market will witness over 5% growth from 2016 to 2024. Increasing road accident rates along with vehicle damage due to critical weather conditions will propel the ARG market growth.
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The above information is provided on a regional and country basis for the following:
North America: U.S, Canada.
Europe: Germany, UK, France, Italy, Poland, Russia.
Asia Pacific: China, India, Japan, Malaysia, Australia, Thailand, South Korea.
MEA: Saudi Arabia, UAE, South Africa.
Latin America (LATAM): Brazil, Argentina, Mexico
Growth drivers
• Technological advancement in automotive industry for enhanced safety
• Automotive market penetration
• Automotive industry expansion in China
• Refurbished vehicles industry growth
• Rising demand for automotive glass sunroofs and tinted glass
• Industry pitfalls and challenges
• Fluctuating prices and raw material demand & supply gap
• Intensive capital investment and product certification
Automotive Glass Market By Product: Laminated, Tempered.
Automotive Glass Market By Application: Sidelite, Backlite, Windscreen.
Automotive Glass Market By End-Use: Aftermarket replacement glass (ARG), Original equipment manufacturer (OEM).
Automotive Glass Market By Vehicle: Light commercial vehicle, Heavy commercial vehicle, Passenger cars.
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Automotive glass market from light commercial vehicles will observe over 6.5% growth. Rapid urbanization, high transport rates and rising demand for mini-trucks and vans are the considerable factors of the product development. Increasing accident rates due to heavy traffic in urban areas has positively influenced the demand.
The 2015 U.S. laminated automotive glass market was worth more than USD 800 million; stringent regulations for passenger safety and consumer awareness pertaining to health & safety will drive the regional demand. Shifting trends towards super and modified cars with increased utilization of tinted products will drive the innovation landscape
China automotive glass market from OEM is estimated to witness over 7% growth up to 2024. High consumer spending on vehicles accompanied by inclination towards luxury and supercars are driving industry trends.
Global automotive glass market share is consolidated in nature with the presence of key players including Saint Gobain Sekurit, AGC, Nippon, Xinyi, Guardian and Fuyao accounting for over 50% of the industry share in 2015. Other notable players include Magna International, Inc., Shenzhen Benson, PGW, Gentex Corporation and Webasto.
Related Report:
Global Automotive Air Conditionings Market Research Report 2017
In this report, the global Automotive Air Conditionings market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016
https://www.marketstudyreport.com/reports/global-automotive-air-conditionings-market-research-report-2017/?utm_source=RR-SL
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