Meticulous Research®, an eminent global market research organization, has recently published a new report titled, “Automotive Glass Market by Glass Type (Laminated Glass, Tempered Glass), Vehicle Type (Passenger Cars, Light Commercial Vehicles, Electric Vehicles), Sales Channel, Application (Sidelight, Windshield, Sunroof), and Geography—Forecast to 2031.”
The report reveals that the global automotive glass market is expected to grow to $28.3 billion by 2031, with an estimated CAGR of 8.9% during the forecast period.
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Key factors driving this growth include the increasing demand for electric and hybrid vehicles, a rise in vehicle sales, and a growing preference for sunroofs in passenger cars. However, the market faces challenges such as high setup costs for manufacturing automotive glass and fluctuations in raw material prices.
The report also identifies significant growth opportunities arising from the increasing use of smart glass in automotive applications. However, concerns about the safety of laminated glass may present challenges to market growth.
For detailed analysis, Meticulous Research® has segmented the market based on glass type, vehicle type, sales channel, application, and geographical region. The study also provides an evaluation of industry competitors and an analysis of the market at both regional and national levels.
The report segments the automotive glass market by glass type into laminated glass, tempered glass, and other types. Laminated glass is projected to hold the largest market share in 2024, driven by rising consumer demand for safety features and its widespread use in windshields and side windows. This segment is also expected to register the highest growth rate during the forecast period.
In terms of vehicle type, the market is divided into passenger cars, light commercial vehicles, heavy commercial vehicles, electric vehicles, and other categories. The passenger car segment is anticipated to dominate the market in 2024, driven by increasing vehicle sales due to rising disposable incomes and changing consumer preferences. Conversely, the electric vehicle segment is expected to experience the fastest growth, supported by favorable government policies, increased investment in EV technology by major automakers, and growing environmental awareness.
Regarding sales channels, the market is categorized into OEMs and aftermarket. The OEM segment is expected to capture the largest share of the market in 2024, owing to the rising demand for high-quality automotive glass, the adoption of advanced technologies in vehicles, and consumer preference for OEM glass due to its warranty and reliability. This segment is also predicted to grow at the highest CAGR during the forecast period.
The application segment divides the market into sidelight, windshield, sunroof, rear window, taillight, and other uses. Windshields are expected to command the largest market share in 2024, driven by the demand for safety features, soundproofing, and UV protection in vehicles. Meanwhile, the sunroof segment is anticipated to grow at the highest rate, driven by increasing sunroof adoption, technological advancements, and evolving consumer preferences.
Geographically, the global automotive glass market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is forecasted to lead the market in 2024, supported by increasing vehicle production, rising demand for electric vehicles, and growing government emphasis on vehicle safety in the region. This region is also projected to register the highest growth rate during the forecast period.
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Key Players:
The key players operating in the global automotive glass market are AGC Inc. (Japan), Nippon Sheet Glass Co., Ltd. (Japan), Fuyao Glass Industry Group Co., Ltd. (China), Xinyi Glass Holdings Limited. (Hong Kong), Saint-Gobain (France), Webasto Group (Germany), Magna International Inc. (Canada), Corning Incorporated (U.S.), Guardian Industries (U.S.), Gentex Corporation (U.S.), TAIWAN GLASS IND. CORP. (Taiwan), Central Glass Co., Ltd. (Japan), Motherson Group (India), Schott AG (Germany), Vitro (Mexico), and Sisecam Otomotiv A.S. (Turkey).
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Key questions answered in the report:
- Which are the high-growth market segments in terms of glass type, vehicle type, sales channel, application, and geography?
- What is the historical market for automotive glass?
- What are the market forecasts and estimates for the period 2024–2031?
- What are the major drivers, restraints, and opportunities in the global automotive glass market?
- Who are the major players in the global automotive glass market, and what are their market shares?
- What is the competitive landscape like?
- What are the recent developments in the global automotive glass market?
- How do major players adopt the different strategies in this market?
- What are the geographic trends and high-growth regions in the market?
- Who are the emerging players in the global automotive glass market, and how do they compete with the other players?
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