Automotive Windshield Market worth US$ 14 billion by 2022
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Automotive windshield protect drivers as well as passengers in vehicles from pollution, dust, sunlight, and wind from entering the vehicle cabin. Windshields are designed for supporting the vehicle structure, and are attached to vehicles by the help of polyurethane adhesives. Safety glass is used for production of automotive windshields, as it resists shattering and minimizes risks of harmful injuries.
The automotive windshield market is expected to grow from almost US$ 14 billion in 2017 to approx. US$ 18 billion in 2022.
7 Key Projections for the Global Automotive Windshield Market
1. Asia Pacific excluding Japan (APEJ) will continue to be dominant in the global automotive windshield market, with sales witnessing a steady expansion through 2022.
2. Demand for automotive windshield in Middle East & Africa (MEA) will continue to be sluggish during the forecast period.
3. Passenger cars are expected to remain the most lucrative vehicles for sales of automotive windshield in the global market.
4. Sales of automotive windshield in LCVs and HCVs are estimated to register a moderate expansion over the forecast period.
5. Based on material type, glass will continue to be sought-after for production of automotive windshield. Sales of glass for automotive wind shield will account for the largest revenues by 2022-end.
6. On the basis of sales channel, aftermarket is expected to remain dominant in the global automotive windshield market. Sales of automotive windshield in OEM will register a comparatively lower CAGR than OEM through 2022.
7. Fact.MR’s report profile key players in the global automotive windshield market, which include Saint-Gobain SA, Vitro, Fuyao Glass Industry Group Co., Ltd., Xinyi Glass Group, Asahi Glass Co., Ltd., Safelite Auto Glass, Nippon Sheet Glass Co. Ltd., Racing Shields, Guardian Industries, and Gerber Collision & Glass Inc.
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PC Segment Has Most Scope in Automotive Windshield Market
The passenger car segment is predicted to be worth largest market valuation by end 2022, and will witness steady growth over the forecast period. The PC segment accounts for a large revenue share by vehicle type in the automotive windshield market and APEJ contributes nearly half. The LCV segment is somewhat less attractive but it still represents a lucrative market opportunity at the end of the forecast period. Key stakeholders would do well to focus on the Europe LCV segment along with APEJ as the former should record a moderate CAGR and will surpass billion-dollar value at the end of the five-year period.
Smaller Potential in HCV Segment of Automotive Windshield Market
The HCV segment is much smaller than either the PC or LCV segment in the Automotive Windshield Market but it would be foolhardy to overlook it entirely in favour of the latter two as it is a market of roughly US$ 1.7 billion in 2017 itself. The fast-growing, dynamic APEJ region is anticipated to account for the largest contribution of a little less than half of global market throughout the forecast period and the APEJ HCV market could touch a billion-dollar value by end 2022 which would be an impressive growth in five years.
Target Glass over Polymer in the Automotive Windshield Market
Key stakeholders are advised to target glass over polymer in the Automotive Windshield Market as it is projected to grow at a steady CAGR. While APEJ is the largest regional contributor, Europe has a similar CAGR and can be attractive for those companies that seek to hedge their bets in the Automotive Windshield Market. The polycarbonate segment in the Automotive Windshield Market is much smaller in comparison and might only push past US$ 1.2 billion by the end of the study period. In the case of polycarbonate, North America may be a strong prospect as the continent is on track to record the highest CAGR.
Aftermarket Channel 2x the Size of OEM’s in Automotive Windshield Market
The aftermarket channel comprises a dominant revenue share by sales channel segment in the Automotive Windshield Market and it is poised to be worth a little over US$ 11.3 billion in 2022. The OEM channel in stark contrast is estimated to be only slightly above half that in the same year. In both sales channels, APEJ contributes the major share in the Automotive Windshield Market and it is quite likely to retain its commanding position in the medium to long term. Rising aftermarket sales of automotive windshield are indicative of the fact that customization needs of car users are expected to boost the sales of windshields. During the forecast period, OEMs are also expected to boost the quality of their offerings in order to capitalize from sales of luxury cars, which require top-of-class windshields.
Leading players in the global automotive windshield market are Saint-Gobain SA, Vitro, Fuyao Glass Industry Group Co., Ltd., Xinyi Glass Group, Asahi Glass Co., Ltd., Safelite Auto Glass, Nippon Sheet Glass Co. Ltd., Racing Shields, Guardian Industries, and Gerber Collision & Glass Inc.
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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized automotive market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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