14-May-2019: The global automotive glass market size is
anticipated to reach USD 21.72 billion by 2025 expanding at a CAGR of 5.7%,
according to a new report by Grand View Research, Inc. Increasing automobile
production across the globe on account of technological advancements and rising
disposable income levels, especially in emerging countries like China, India,
and Japan, will augment the product demand over the forecast period.
China, in particular, is the
largest market due to its significant vehicle production, which was estimated
at approximately 29 million units in 2017. As a result, Asia Pacific region is
anticipated to hold the largest share of the global automotive glassmarket over
the forecast period. Moreover, rising investments by international OEMs in the
region due to factors like land and raw material availability, high domestic
demand, and cheap labor cost will drive the regional market further. The
passenger car segment is likely to have a high growth on account of development
of advanced automotive glass products with high-end features.
In addition, consumers’
willingness to pay extra for premium passenger cars to get better quality and
durability are likely to have a positive impact on the product demand.
Laminated glasses are widely used in vehicle backlites as they offer lower
visual distortion than other products, resulting in enhanced road safety.
Furthermore, they can be easily repaired after damage unlike the tempered
glass, which needs to be replaced completely.
In
depth research report on Automotive Glass Market
Further
key findings from the study suggest:
· Laminated
glass segment held the highest revenue share of 55.1% in 2018 owing to various
safety and value added features provided by the product
· Sunroof
is anticipated to be the fastest-growing application segment over the forecast
period due to increasing integration of sunroof systems in mid-segment cars
· OEM was
the largest end-use segment in 2018 and is projected to maintain the dominance
throughout the forecast years due to rising demand for passenger cars
· Central
& South America is forecasted to register the fastest CAGR of 7.4% from
2019 to 2025 due to increasing vehicle production in the region. Passenger car
production in CSA grew by 21.4% in 2017 in comparison to 2016
· Compagnie
de Saint-Gobain S.A.; Asahi Glass Co. Ltd.; Fuyao Glass Industry Group Co.,
Ltd.; Nippon Sheet Glass Company, Ltd. (NSG); and Corning Inc. are some of the
key companies in the market
Grand View Research has
segmented the global automotive glass market on the basis of product,
application, end use, vehicle type, and region:
Automotive
Glass Product Outlook (Volume, Million Square Meters; Revenue, USD Million,
2014 - 2025)
· Tempered
· Laminated
· Others
Automotive
Glass Application Outlook (Volume, Million Square Meters; Revenue, USD Million,
2014 - 2025)
· Windscreen
· Backlite
· Sidelite
· Sunroof
Automotive
Glass End Use Outlook (Volume, Million Square Meters; Revenue, USD Million,
2014 - 2025)
· Original
Equipment Manufacturer (OEM)
· Aftermarket
Replacement (ARG)
Automotive
Glass Vehicle Type Outlook (Volume, Million Square Meters; Revenue, USD
Million, 2014 - 2025)
· Passenger
Car
· Light
Commercial Vehicles (LCVs)
· Heavy
Commercial Vehicles (HCVs)
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About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.