Automotive Glass Market Driven By Demand Surge to Grow Exceptionally, 2023

Automotive Glass Global Market – Overview

Automotive glass is the component of vehicle that contributes to the safety and stiffness. Automotive glass includes different components such as windscreen, side and rear windows, and roof of the vehicle with glass panel. The main property of automotive glass is to provide a clear vision of the road and the nearby objects. Mainly two types of automotive glasses are used in automobile that includes tempered safety glass and laminated safety glass.

Over the past decade, the automotive industry has witnessed a prospective growth in the global market in terms of revenue and sales, which has turned into significant opportunities for the manufacturers that can be grabbed in the coming time. In the last couple of years, the automotive manufacturers have come across several product innovation with respect to vehicle safety and security, and the major focused area is to make the auto glass much safer and stiffer. Auto glass is the major component of any vehicle such as passenger cars, light commercial vehicles, heavy commercial vehicles and others, that has been designed and manufacture in a very specific manner to keep the passenger safe. Although, the automotive glass looks the same as any other type of glass, but it functions very differently. As per the market study conducted by Market Research Future, the global market for automotive glass seems very broad and is expected to create lucrative opportunities in the forecast period. Many auto glass manufactures have come up with various technological advancements and key development which have pushed the market to an upper level. This market is majorly benefiting from the various driving factors such as continuously increasing sales of passenger cars, rising number of accidents, increasing research & development spending, government’s initiatives, on-going developments by the prominent auto glass manufacturers.

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The automotive manufacturers have seen a drastic rise in the sales of new vehicles in the last few years, which has resulted in increasing vehicles production. Owing to this, the demand for auto glass from the auto manufacturers have put a pressure on the OEMs to increasing the glass production to meet the market demand. Moreover, the vehicle manufacturers along with auto glass OEMs are working together to make the auto glass much safer and stiffer. Additionally, the OEMs are focusing more on expansion of new plants in various countries to meet the demand. The other reason behind the increasing growth of auto glass is the rising number accidents. As per the data of National Highway Traffic Safety Administration of the United States, in 2015, the number of car accidents have reached 6.29 million. As a result, the demand for auto glass has increased at the time vehicle repair.

In spite of these factors, the auto glass market growth could be restrained by the factors such as higher manufacturing prices of auto glass, fluctuating prices of glass raw materials, and underdeveloped aftermarket services in major countries. Whereas, the major factor that has been a challenge for the automotive glass industry is the government regulations over automotive glass certification. The automotive glass needs to clear all the certification process led by government and transportation department. However, several manufacturers face various difficulties in getting NOC from these departments. Moreover, the manufacturers need to obtain these certificate to sell or export their products to other countries such as US’s DOT, China’s CCC, Brazil’s INMETRO, Japan’s JAS, India’s RTO and among others. Therefore, owing to this factors, the market has faced various challenges that could obstruct the market growth.

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Key Players:

Nippon Sheet Glass Co. Ltd (Japan), Vitro, S.A.B. de C.V. (Mexico), Xinyi Glass Holdings Limited (Hong Kong), Guardian Industries Corp. (U.S.), Fuyao Glass Industry Group Co.Ltd (China), Asahi Glass Co., Ltd. (Japan), Central Glass Co. (Japan), Saint Global S.A. (France), Olimpia Auto Glass Inc. (Turkey) and Shatterprufe (South Africa) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Automotive Glass Market.

Automotive Glass Global Market – Segmentation

The scope of global automotive glass market is segmented into three major segments which are explained below:

• By Glass Type
o Tempered Glass
o Laminated Glass
• By Vehicle Type
o Passenger Car
o Light Commercial Vehicle
o Heavy Commercial Vehicle
• By Application
o Windscreen
o Sidelite
o Backlite
o Sunroof

Automotive Glass Global Market - Competitive Analysis

The global market for automotive glass seems to be highly competitive. To maintain the market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, product launch, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.

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Market Research Future
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Maharashtra, India
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This release was published on openPR.