Pune, India — 01/15/2018 — Global Automotive Glass Market, By type (Tempered glass, Laminated glass), By vehicle type (Passenger car, Light commercial vehicle, Heavy Commercial vehicle), By Application (Windscreen, Sidelite, Backlite, Sunroof) and Region – Forecast 2017-2023.
Market Synopsis of Automotive Glass Market
The growth of automotive industry leads to the increased demand for automotive glass market. Rising production and sales of vehicles are likely to result in increased usage of the automotive glass. Factors such as the growing demand for luxury and value added features such as electronically switch abled smart glasses and other are some of the factors driving the automotive glass market. Additionally, benefits such as thermal comfort and noise reduction offered by these will enhance automotive glass market. Moreover, the rising need for weight reduction in cars, is expected to fuel the demand for ultra-thin & tough windshield glasses for sophisticated vehicle models.
Whereas, high cost associated with manufacturers, and lack of awareness about usability & benefits, hamper the growth of the market significantly.
The Automotive Glass Market is expected to reach market size of 28,135.7 million by the end of forecast period with CAGR 7.73% between 2017 and 2023.
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Geographically, Asia-Pacific is a major revenue generator of the global automotive glass market, where China, Japan and India are considered the prominent countries for the market, owing to the growing population, huge exports, rapid urbanization and technological advancements. Moreover, the rising preference for gorilla glass for high end premium vehicles, will create an opportunity for the specialized automotive market to meet the standard for the glass.
North America is the second leading market of automotive glass market and is estimated to grow at a CAGR of 7.19% during the forecast period.
The major players operating in the market of global automotive glass are Nippon Sheet Glass Co. Ltd (Japan), Vitro, S.A.B. de C.V. (Mexico), Xinyi Glass Holdings Limited (Hong Kong), Guardian Industries Corp (U.S.), Fuyao Glass Industry Group Co. Ltd (China), Asahi Glass Co., Ltd. (Japan), Central Glass Co. Ltd (Tokyo), Saint Global S.A. (Paris), Olimpia Auto Glass Inc.( Turkey), Shatterprufe (South Africa) and others.
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Automotive Glass Global Market – Segmentation
The scope of global automotive glass market is segmented into three major segments which are explained below:
– By Glass Type
o Tempered Glass
o Laminated Glass
– By Vehicle Type
o Passenger Car
o Light Commercial Vehicle
o Heavy Commercial Vehicle
– By Application
Automotive Glass Global Market – Competitive Analysis
The global market for automotive glass seems to be highly competitive. To maintain the market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, product launch, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
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