Home / Press Release / Global Automotive Glass Market Projected to Grow At a CAGR of 6.3% during the Forecast Period

Global Automotive Glass Market Projected to Grow At a CAGR of 6.3% during the Forecast Period

The latest market report published by Credence Research, Inc. “Automotive Glass Market: Growth, Future Prospects, and Competitive Analysis, 2019 - 2027” the automotive glass market was valued at US$ 14.70 Bn in 2018 and expected to reach US$ 25.22 Bn by 2027 at a CAGR of 6.3% throughout the forecast period from 2019 to 2027. 

Market Insights 

"Evolving need to manage hybrid IT and reduce security risk will spur revenue growth during the forecast period" 

Rapid technological advancements in automotive industry coupled with increasing safety focus on customer safety is propelling the growth of the automotive glass market. The combination of factors including rise in the level of income of middle class, increasing young population are drivers fueling the growth of automotive, thus increasing the demand of automotive glass industry across the globe. The industry is facing many changes owing to advancement in technology as well as increasing demand for sun roof is propelling the automotive glass market growth. Additionally, introduction of new designs resulted in an increase in the size of the windshield and side windows, contributing to overall industry growth. 

Browse full report at https://www.credenceresearch.com/report/automotive-glass-market

Rising emphasis on driver safety, quality control, and reduced costs among others are some of the factors of fueling vehicle modularization. Inclination of customers in tandem with integration of advance vehicle components in order to reduce weight and decrease the production processing is proliferating the market demand. Change in customer preferences and rising disposable income are promoting the increased product utilization.

Automotive Glass Market

Industrial Developments 

• In June 2019, Asahi Glass Company Ltd., and Belron a leading glass repair and replacement company in Europe have entered into an agreement to cover operations in Poland and Czech Republic.

• In April 2018, Asahi Glass Company Ltd. announced the launch of new product ‘Pure Grey’. The product is an alternate to the green-tinted glass and has better performance in terms of transmitting and reflecting colors.

Key Market Movements

• Globally, the automotive glass market is rising at a CAGR of 6.3% for the period from 2019 to 2027.

• Windshield segment dominates the automotive glass market and is expected to lead throughout the forecast period. This can be associated technological advancements including integration of sensors and smart materials. Thus proliferating the demand of the automotive glass market.

• In addition, sunroof segment expected to register fastest during the forecast period. This is due to, increasing adoption of sunroof in luxury as well as other segments.

• Asia Pacific region expected to dominate the automotive glass market in terms of market revenue. This is due to the, change in buying behavior of customers in terms of style, safety and comfort among others.

• Latin America region is anticipated to register maximum CAGR throughout the forecast period. Owing to the increasing consumer spending and expanding automotive sector in the region. 

List of Companies Covered:

• Asahi Glass Co. Ltd.
• Fuyao Group
• Nippon Sheet Glass Co.
• Corning Incorporated.
• Saint-Gobain S.A.
• Guardian Industries Corp.
• Xinyi Glass Holdings Ltd.
• Duratuf Glass Industries Pvt. Ltd.
• CSG Holding Ltd.
• China Glass Holdings Ltd.
• Central Glass Co. Ltd.

The Global Automotive Glass Market is Segmented into:

ATTRIBUTE DETAILS
Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Billion
Segmentation

 Product Segment (2017–2027; US$ Bn)

 Application Segment (2017–2027; US$ Bn)

 Vehicle Type Segment (2017–2027; US$ Bn)

 End-use Segment (2017–2027; US$ Bn)

 Geography Segment (2017–2027; US$ Bn)

*Complete segmentation list is on report page

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