December 19, 2019
According to the new research report available at MarketStudyReport.com under the title ‘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’, the global automotive glass market is anticipated to amass USD 14.9 billion by the year 2026.
Shifting preference of consumers for lightweight vehicle components offering improved fuel efficiency, reduced noise, and cost savings is the key factor driving the growth of automotive glass market. Improving economic conditions are leading to higher demand for high efficiency automobile. This factor coupled with rising production & sales of electric vehicles are fueling the demand for automotive glass across the globe. Moreover, evolving lifestyle, changing trend of long-distance road journeys, in consort with improved quality control measures and reduced production cost are augmenting the market outlook.
The study cites that insulating glass, basic float glass, encapsulated glass, and defogger glass are some value-added glass types. Defogger glass helps in removing condensation and ice from the backlite, resulting in clear visibility in any weather conditions, thereby gaining traction in forthcoming years. Additionally, another technological trend suggests that demand for acoustic glass will rise, as it reduces traffic noise inside the vehicle facilitating a comfortable journey, which in turn will contribute towards automotive glass market growth.
In terms of product type, automotive glass market is bifurcated into tempered and laminated. As per the report, laminated glass market is presumed to witness significant growth over the forecast period, due to its highly desirable properties like scratch resistant, impact resistance, UV resistance, and higher durability.
Speaking of distribution channel, the industry is divided into aftermarket replacement glass and original equipment manufacturer. The former segment is presumed to experience a decent growth in the upcoming years, owing to the insurance policies offered for vehicle damage.
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Based on application, automotive glass market is divided into backlite, sidelite, and windscreen. While as per vehicle type, the market is bifurcated into heavy commercial vehicle, light commercial vehicle, and passenger cars.
Considering geographical landscape, APAC automotive glass market is anticipated to register accelerated growth over the analysis timeframe, owing to increase in automotive production across the regions of Indonesia, China, India, Japan, Taiwan, and Malaysia.
The prominent companies operating in automotive glass market are NSG, Euroglas GmbH, China Glass Holding Ltd., Paragon Tempered Glass, Independent Glass Co., Ltd., Windscreens Glas Trosch Holding AG, Soliver, Dura Automotive System LLC, LKQ Corporation, and Shatterprufe Windscreens among others.
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