Global Automotive Glass Market was valued US$ 16Bn in 2017 and is expected to reach US$ 25.36Bn by 2026 at a CAGR of about 5.93% during a forecast.
Global Automotive Glass Market is segmented into by type, by application, by material, by vehicle and by region. Based on type, Automotive Glass Market is classified into Laminated & Tempered. In application are parted into windshield, sidelite, backlite, Rear Quarter Glass & Side & Rear-View Mirrors. By material are divided into IR-PVB, Metal Coated & Tinted. In Vehicle are segmented into Passenger Vehicles, Light Commercial Vehicles & Heavy Commercial Vehicles. Geographically into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Global industry Analysis and forecast 2018-2026.
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Driving factors of automotive glass market are rising demand and production of vehicles. Increase in demand and sales of commercial vehicles, government stringent emission norms, and improved vehicle performance, trending smart glass, bullet proof glass, eco-friendly & embedded glass. Rising primary safety from accidents and rising consumer preferences in application of glass in passengerâ€™s cars have created huge demand in market for Automotive Glass Market.
High capital cost required to setup a glass plant and huge cost of smart glass can hamper the growth of Automotive Glass Market.
In terms of type, laminated segment shares the largest market during the forecast period. Increase in production of passenger vehicles across the globe, decline in bank interest rate, rapid urbanization and rising safety concern. Increasing applications in windshield and growing safety standards, increased safety when compared with tempered glass and also improves the NVH (Noise, Vibration & Harshness) conditions of the vehicles will boost the demand in automotive glass market.
In terms of application, windshield segment is projected to grow at fastest during the forecast period. Future automobiles will need to satisfy stringent emission standards and the best way to do it with exciting technologies is to reduce accidental damage. Increasing production and demand for passenger are growing much higher than previous period, increasing consumption owing to the better visibility property, improve the centre of gravity of the vehicle and will have a positive impact on the acceleration, braking performance, and fuel economy will have more opportunity in automotive glass market.
Among region, Asia Pacific is expected to grow at the highest CAGR during the forecast period. Emerging economics and strong presence of manufacturers in Japan, China, and India will boost the market in this region. Rise in disposal income, rapid changes in regulations to make transportation more advancing on the technology front and ever increasing population of this region will create more opportunity in automotive glass market. China is the biggest producer of automobiles in the world. Northern America region is projected to be the second largest Automotive Glass Market.
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Dura Automotive Systems, Asahi Glass Co., Ltd., Fuyao Glass Industry Group Co., Ltd., Nippon Sheet Glass Co., Ltd., Xinyi Glass Holdings Ltd., Samvardhana Motherson, Webasto, Gentex Corporation, Pilkington Glass, PPG Industries, Corning, Shenzhen Benson Automobile Glass Co., Ltd., Central Glass Co., Ltd., Glas TrÃ¶sch Holding AG, LKQ Corporation, Saint-Gobain S.A., Magna International Inc., Vitro, S.A.B. de C.V., Guardian Industries Corporation.