Automotive Glass Market size worth over $11bn by 2026
Published Date: June 23, 2020 Authors: Kiran Pulidindi, Akshay Prakash
Automotive Glass Market size is set to exceed USD 11 billion by 2026, according to a new research report by Global Market Insights, Inc.
Automotive glass demand is directly conjugated with automobile production and has gained strides primarily owing to rising vehicle ownership. Improved road infrastructure with increased government spending on road improvements is driving vehicle demand. Increased urbanization along with rising demand for SUVs and sedans is expected to fuel the market growth. The vehicle manufacturers are taking initiatives such as auto tinting glass, and installation of water repellant glass to improve capabilities, thereby propelling revenue generation. Increasing establishment of manufacturing plants will enhance the product availability.
Windscreen segment accounts significant market share and are manufactured from laminated glass. Vehicle manufacturers are investing in innovative windshield technology to offer enhanced solution for passenger comfort. For instance, in January 2017, Volkswagen introduced of heated windscreen for six vehicle models. The company has incorporated wafer thin silver in its windshield’s laminate, that makes it virtually invisible providing aesthetic with functionality.
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In 2019, tempered automotive glass market held over 35% revenue share due to low cost as compared to its counterparts. The tempered glass possesses favorable properties such as strength and scratch resistance. Manufacturing process of tempered glass includes the tempering process which contrast tension and compression on outer and inner surfaces. Moreover, in case, of collision, the glass breaks into small granular pieces that reduces the injury potential of the passengers.
Browse key industry insights spread across 240 pages with 281 market data tables & 39 figures & charts from the report, “Automotive Glass Market Size By Product (Laminated, Tempered), By Application (Sidelite, Backlite, Windscreen), By End-Use (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, 2020 – 2026” in detail along with the table of contents:
Light commercial vehicle (LCV) segment will witness around 7.5% growth through 2026 led by increasing vehicle demand for goods transportation. The growth in trade activities coupled with improved storage facilities has helped the manufacturers to increase their production and store their products for future trade. Innovations in vehicle design for weight reduction coupled with increasing travel safety will drive the segment penetration. Commercial vehicles are increasingly becoming popular means for last mile transportation in delivery operations, providing additional growth opportunity.
Europe automotive glass market size is predicted to register substantial gains over the coming years. Rising government initiatives and policies to promote automobile industry will enhance the European market revenue generation. The presence of multiple automotive OEM’s including BMW, Daimler AG, Ford GmbH, Opel, and Volkswagen AG is also supporting the product demand. Moreover, high adoption of luxury vehicles in the region will induce significant growth potential in the industry landscape.
The key automotive glass manufacturers include, AIS Glass, Saint Gobain, WEBASTO, Asahi Glass Company, Pilkington, PPG Industries, Nippon Sheet Glass Company Co., Ltd., Corning Inc., Magna International, Fuso International, Gentex corporation, and Vitro S.A.B de C.V.
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