Global Automotive Glass Market is anticipated to witness an exponential growth in the forecast period. Automotive glasses are aesthetically driven parts of a vehicle that shield the passengers against harsh exterior environment such as sun, wind, and rain. Automotive glasses are created in such a way that they provide minimal weight to the vehicle, resist high external forces, and minimalize the strain induced on the vehicle.
The factors that propel the growth of the Automotive Glass Market include rise in the sales and production of the vehicle, augmented demand for progressive glass technologies such as smart embedded glass &glass device, government regulations for vehicle security, and rising disposable income. On the other hand, there are factors that may hamper the growth of the market including high investment cost required to setup a glass plant. Automotive Glass Industry is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
The latest trend gaining attraction in the market is the exponential increase in the acceptance of solar control glasses for vehicles. The key advantage linked to the use of solar control glasses is that it supports in improving the fuel efficiency. The usage of solar control glass helps in keeping the vehicle cooler inside; eventually reducing the need of an air conditioner and making the car fuel effective.
Automotive Glass Industry may be explored by vehicle type, sale channel, glass type, application, and geography. The market may be explored by vehicle type as Heavy Commercial Vehicles, Passenger Vehicles, and Light Commercial Vehicles. The “Passenger Vehicles” segment accounted for major market share of the automotive glass in 2017. The key factor that may attributed to the growth of market includes rise in the disposable income of the consumers.
The Automotive Glass Market could be explored based on sale channel as Aftermarket and Original Equipment Manufacturer (OEM). The “Original Equipment Manufacturers (OEM)” segment accounted for major market share of the automotive glass in 2015. The key factor that may attributed to the growth of market includes rapid developments in the vehicle safety features from the industrial end.
The industry may be analyzed by glass type as Tempered Glass and Laminated Glass. Based on application, the market may be classified as Back Glass, Windshield, Door Glass (Side Window) may further explored as (Vent Glass and Quarter Glass), Moon Roof and Back Glass. The “Windshield” segment led the Automotive Glass Industry in 2015 and is anticipated to maintain its dominance by 2025.
Asia-Pacific accounted for the major share of the Automotive Glass Market in 2015 and will continue to lead in the forecast period. The factors that could be attributed to the growth include availability of cheap & skilled labor and low cost. Asia-Pacific is followed by the North American region owing to surge in the manufacturing of commercial vehicles in the region.
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Some of the key players that fuel the growth of the Automotive Glass Industry comprise Fuyao Glass Industry Group Co., Ltd., Asahi Glass Co., Ltd., Dura Automotive Systems, Xinyi Glass Holdings Ltd., Nippon Sheet Glass Co., Ltd., Central Glass Co., Ltd., Shenzhen Benson Automobile Glass Co., Ltd., LKQ Corporation, Saint-Gobain S.A., Glass Trosch Holding AG, Magna International Inc., Gentex Corporation, Guardian Industries Corporation and Vitro, S.A.B. de C.V. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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