Automotive Glass Market Analysis By Regions (North America,
Europe, Asia-Pacific, Latin America and Africa), Product, Size, Share, Trends,
Growth Factors, Revenue By Application And Segment Forecasts To 2027.
Global Automotive Glass Market is
anticipated to witness an exponential growth in the forecast period. Automotive
glasses are aesthetically driven parts of a vehicle that shield the passengers
against harsh exterior environment such as sun, wind, and rain. Automotive
glasses are created in such a way that they provide minimal weight to the
vehicle, resist high external forces, and minimalize the strain induced on the
vehicle.
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The factors that propel the
growth of the Automotive Glass Market include rise in the sales and production
of the vehicle, augmented demand for progressive glass technologies such as
smart embedded glass &glass device, government regulations for vehicle
security, and rising disposable income. On the other hand, there are factors
that may hamper the growth of the market including high investment cost
required to setup a glass plant. Automotive Glass Industry is anticipated to
grow at a significant CAGR in the upcoming period as the scope, product types,
and its applications are increasing across the globe.
The latest trend gaining
attraction in the market is the exponential increase in the acceptance of solar
control glasses for vehicles. The key advantage linked to the use of solar
control glasses is that it supports in improving the fuel efficiency. The usage
of solar control glass helps in keeping the vehicle cooler inside; eventually
reducing the need of an air conditioner and making the car fuel effective.
Automotive Glass Industry may be
explored by vehicle type, sale channel, glass type, application, and geography.
The market may be explored by vehicle type as Heavy Commercial Vehicles,
Passenger Vehicles, and Light Commercial Vehicles. The “Passenger Vehicles”
segment accounted for major market share of the automotive glass in 2017. The
key factor that may attributed to the growth of market includes rise in the disposable
income of the consumers.
The Automotive Glass Market could
be explored based on sale channel as Aftermarket and Original Equipment
Manufacturer (OEM). The “Original Equipment Manufacturers (OEM)” segment
accounted for major market share of the automotive glass in 2015. The key
factor that may attributed to the growth of market includes rapid developments
in the vehicle safety features from the industrial end.
Some of the key players that fuel
the growth of the Automotive Glass Industry comprise Fuyao Glass Industry Group
Co., Ltd., Asahi Glass Co., Ltd., Dura Automotive Systems, Xinyi Glass Holdings
Ltd., Nippon Sheet Glass Co., Ltd., Central Glass Co., Ltd., Shenzhen Benson
Automobile Glass Co., Ltd., LKQ Corporation, Saint-Gobain S.A., Glass Trosch
Holding AG, Magna International Inc., Gentex Corporation, Guardian Industries
Corporation and Vitro, S.A.B. de C.V. The leading companies are taking up
partnerships, mergers and acquisitions, and joint ventures in order to boost
the inorganic growth of the industry.
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