Growing emphasis on lightweight cars as a result of increasing harmful emissions from automobiles that have harmful effect on environment is anticipated to increase the demand for glass in the automotive industry. Therefore, with the increasing implementation of emission control measures and stringent environmental regulations, the demand for the hybrid and electrical vehicles increases which eventually enhances the market growth during the forecast period.
According to Data Bridge Market Research the Automotive Glass accounted for USD 19.78 billion in 2021, and expected to reach USD 29.45 billion by 2029. The market is expected to grow with a CAGR of 5.10% in the forecast period of 2022 to 2029.
“Increasing Application of Smart Glass in Automobiles”
Automotive glass is an important aspect of automobiles, with frequent innovations. Among the developments, the automotive smart glass market has been gaining major traction, particularly in premium vehicle applications. These products generate higher levels of comfort with superior functionality in privacy, security, and temperature control, which will boost market penetration during the forecast period. Smart glass options are finding growth rapidly in the production of moon and sun roofs, especially in Europe. For instance, GM has announced its new electric car named Cadillac Celestiq, which will launch with a smart glass roof in January 2021. Thus, the increasing application of smart glass in automobiles is anticipated to drive the market growth.
What restraints the growth of Automotive Glass Market?
“Limited supply and high cost associated with raw materials”
One of the major challenge is the accessibility of raw materials that are required for the production of automotive glass. Raw material availability influences the price structure of glass sales and production. Moreover, growing expenses of soda ash material for the manufacture of automotive glass is anticipated to obstruct the sales in the market. Limited raw material supply influences the overall prices of automotive glass, which is anticipated to be a limiting factor for the market growth in the forecast period.
Segmentation: Automotive Glass Market
The automotive glass is segmented on the basis of product, application, distribution channel and vehicle.
- On the basis of product, the automotive glass is segmented into laminated, tempered.
- On the basis of distribution channel, the automotive glass is segmented into OEM, OES, and independent aftermarket.
- Based on application, the automotive glass is segmented into sidelight, backlight, door glass, quarter glass, vent glass sunroof, windscreen.
- Based on vehicle, the automotive glass is segmented into passenger cars, light commercial vehicle, heavy commercial vehicle.
Regional Insights: North America is expected to dominate the Automotive Glass Market
North America is expected to dominate the market and is expected to grow significantly owing to the growth in the production and sale of commercial vehicles in this region. Furthermore Value-added features such as integrated antennas, solar control, de-icing and de-misting and integrated rain and light sensors for automatic wiper are being included by the manufacturers to provide distinguished products and increase profit in this region.
- In addition, the Asia-pacific region is likely to register highest growth rate during the forecast period of 2022 to 2029 because of rise in the automotive production in thein this region. Moreover, high demand for premium vehicles due to rising disposable income and changing consumer lifestyles will further boost the market growth in this region.
Recent Development in Automotive Glass Market
- In 2021, Jeep’s Performance Parts division launched Gorilla Glass windshields for its Gladiator pick-up truck and Wrangler SUV models. This new JPP’s windshield is made with Corning Gorilla Glass. Its durability is confirmed by Mopar’s combination of 52 percent thicker outer ply with an ultra-thin Gorilla Glass inner ply. Both the Gladiator and Jeep Wrangler have an upright windshield, which decreases the ability of panel's to deflect a strike from a rock.
- In 2021, Webasto which has supplied sliding panorama sunroof for new Mercedes-Benz S-Class. The large glass surface of sliding panorama sunroof provides a pleasantly bright ambiance in sedan’s interior. Shading can be delivered through two separately controllable roller blinds. The modular roof system operates individually and conveniently via voice and gesture control.
- In 2021, Audi announced that all-electric Q4 e-tron crossover will have a vibrant windshield display. The AR windshield provide broader field of view and more dynamic and accurate animations as compared to a standard windshield HUD.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-automotive-glass-market
The Prominent Key Players Operating in the Automotive Glass Market Include:
- Saint-Gobain (France)
- Asahi India Glass Limited (India)
- Fuyao Glass America (U.S.)
- Motherson (India)
- Webasto Group (Germany)
- Nippon Sheet Glass Co., Ltd (Japan)
- GENTEX CORPORATION (U.S.)
- Magna International Inc.(Canada)
- Xinyi Glass (Hong Kong)
- Corning Incorporated (U.S.)
- Hitachi Chemical Co., Ltd. (Japan)
- PGW Auto Glass, LLC (U.S.)
- Polytronix, Inc. (U.S.)
- Vitro (Mexico)
- Olimpia Auto Glass Inc. (Turkey)
- GUARDIAN INDUSTRIES (U.S.)
- Shatterprufe (South Africa)
- Central Glass Co., Ltd. (Japan)
Above are the key players covered in the report, to know about more and exhaustive list of Automotive Glass companies contact, https://www.databridgemarketresearch.com/reports/global-automotive-glass-market
Research Methodology: Global Automotive Glass Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
