Automotive Glass Market Size to exceed $14.9bn by 2026

Automotive Glass Market size is set to reach USD 14.96 billion by 2026; according to a new research report by Global Market Insights, Inc.
 

Increasing consumer inclination towards vehicles featuring safe and reliable auto components and accessories will significantly drive the automotive glass market share over the forecast timeframe. Automotive glass is increasingly developed with the emergence of more innovative and technologically advanced features. It protects from external temperature changes, external noise, and maintains the passenger comfort. Recent R&D activities targeted towards development of smart glass for conventional cars will prominently contribute towards industry expansion.


 

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Intelligent smart glass for future cars

Continuous vehicle design evolution are resulting in development of more sophisticated cars with enhanced safety and comfort. Industry participants are focusing to add features such as “smart windshield technology” including sensors for avoiding vehicle collisions. Smart glass is gaining popularity owing to their superior light and heat emission control, further reducing the overall energy consumption of air conditioning. Mercedes-Benz, BMW AG, and Daimler AG have adopted this technology, particularly for sunroofs.
 

Browse key industry insights spread across 242 pages with 320 market data tables, figures & charts from the report, “Automotive Glass Market Size By Product (Laminated, Tempered), By Application (Sidelite, Backlite, Windscreen), By Distribution Channel (Aftermarket Replacement Glass, Original Equipment Manufacturer), By Vehicle (Light Commercial Vehicle, Heavy Commercial Vehicle, Passenger Cars), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-glass-market
 

Growing passenger safety and security concerns

Laminated glass held more than 25% volume share in 2018 owing to increasing passenger safety concerns. The multilayer laminated glass with Polyvinyl Butyral (PVB) interlayer ensures a reduction in the scattering of glass fragments on breakage. Easy reparability, compatibility with PVB coating for better glass bonding, clear visibility, and sound proofing are the key factors that will enhance the product demand. The rising demand for luxury, comfort, and better interior décor will positively propel automotive glass market revenue.
 

Ongoing product development of defogger backlite glasses

Backlite is likely to exhibit growth over 6% from 2019 to 2026 owing to the ongoing R&D activities pertaining with development of upgraded backlite glasses. The glass offers improved defrosting capabilities with the usage of innovative outlines, that are integrated in the glass for carrying out the heating processes. This permits clear visibility in all weather conditions. Tempered glass is highly utilized during the manufacturing of backlite owing to the qualities such as safe shattering and high-impact resistance against physical pressure.
 

Vehicle accidents and scratches will propel aftermarket glass consumption

Aftermarket automotive glass is projected to witness growth of 4.9% CAGR till 2026. Damages due to weather and accidents are expected to drive the product demand. Changing customer preferences toward quality and cost of product are majorly influencing the industry expansion. Availability of automotive glass variants with numerous colors and size options at economical prices will further support the product adoption.
 

Numerous styling and glass customization options

Passenger cars will continue to dominate the automotive glass market and account more than 65% revenue share by 2026. Increasing safety norms regarding standard glass thickness in passenger vehicles are also expected to drive the market demand. Increasing disposable income and the need to travel long distance have made passenger cars a necessity for safe travel rather than a luxury product. Moreover, introduction of new electric and autonomous cars will positively expand the segment share.
 

Stringent regulatory norms for enhanced safety in North America

Automotive glass market demand by region, 2018 & 2026
Automotive glass market demand by region, 2018 & 2026

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Stringent regulations in North America regarding the safety of glass are expected to drive the industry demand. Industry participants are following the regulations laid by the Federal Motor Vehicle Safety Standards (FMVSS), which include measures for passenger safety, strength, crash resistance, and penetration through windshield. Therefore, North America will showcase a significant growth rate with a CAGR of over 4.5% from 2019 to 2026.
 

Increasing investments for automotive glass market expansion

Strategic investments targeted towards expanding the business operations and customer base is one of the key strategy adopted by key players in the value chain. For instance, in March 2016, AGC announced to build second float glass manufacturing plant with USD 163.2 million investment in South-Eastern Brazil. Some of the other major players in the landscape are Asahi Glass Company, Nippon Sheet Glass Company, Saint-Gobain, Fuyao Glass, and Xinyi Glass Holdings.
 

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