Automotive Glass Market To Exhibit Growth On Account Of Rising Automobile Production Across The Globe By 2025: Grand View Research, Inc.

April 17 11:38 2019
Automotive Glass Market To Exhibit Growth On Account Of Rising Automobile Production Across The Globe By 2025: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, Increasing automobile production across the globe on account of technological advancements and rising disposable income levels, especially in emerging countries like China, India, and Japan, will augment the product demand over the forecast period.

According to a report ,Automotive Glass Market Size, Share & Trends Analysis Report By Product (Laminated, Tempered), By Application (Windscreen, Sunroof), By End Use (OEM, ARG), By Vehicle Type (Passenger Car, LCV), And Segment Forecasts, 2019 – 2025″ published by Grand View Research, Inc.,  The global automotive glass market size is anticipated to reach USD 21.72 billion by 2025 expanding at a CAGR of 5.7%. Increasing automobile production across the globe on account of technological advancements and rising disposable income levels, especially in emerging countries like China, India, and Japan, will augment the product demand over the forecast period.

Key Takeaways from the report:

  • Laminated glass segment held the highest revenue share of 55.1% in 2018 owing to various safety and value added features provided by the product

  • Sunroof is anticipated to be the fastest-growing application segment over the forecast period due to increasing integration of sunroof systems in mid-segment cars

  • OEM was the largest end-use segment in 2018 and is projected to maintain the dominance throughout the forecast years due to rising demand for passenger cars

  • Central & South America is forecasted to register the fastest CAGR of 7.4% from 2019 to 2025 due to increasing vehicle production in the region. Passenger car production in CSA grew by 21.4% in 2017 in comparison to 2016

  • Compagnie de Saint-Gobain S.A.; Asahi Glass Co. Ltd.; Fuyao Glass Industry Group Co., Ltd.; Nippon Sheet Glass Company, Ltd. (NSG); and Corning Inc. are some of the key companies in the market

China automotive glass market size, by application, 2014 - 2025 (USD Billion)

 

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Global automotive glass market share, by vehicle type, 2018 (%)

China, in particular, is the largest market due to its significant vehicle production, which was estimated at approximately 29 million units in 2017. As a result, Asia Pacific region is anticipated to hold the largest share of the global automotive glassmarket over the forecast period. Moreover, rising investments by international OEMs in the region due to factors like land and raw material availability, high domestic demand, and cheap labor cost will drive the regional market further. The passenger car segment is likely to have a high growth on account of development of advanced automotive glass products with high-end features.

In addition, consumers’ willingness to pay extra for premium passenger cars to get better quality and durability are likely to have a positive impact on the product demand. Laminated glasses are widely used in vehicle backlites as they offer lower visual distortion than other products, resulting in enhanced road safety. Furthermore, they can be easily repaired after damage unlike the tempered glass, which needs to be replaced completely.

Grand View Research has segmented the global automotive glass market on the basis of product, application, end use, vehicle type, and region:

Automotive Glass Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)

  • Tempered

  • Laminated

  • Others

Automotive Glass Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)

  • Windscreen

  • Backlite

  • Sidelite

  • Sunroof

Automotive Glass End Use Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)

  • Original Equipment Manufacturer (OEM)

  • Aftermarket Replacement (ARG)

Automotive Glass Vehicle Type Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)

  • Passenger Car

  • Light Commercial Vehicles (LCVs)

  • Heavy Commercial Vehicles (HCVs)

Automotive Glass Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

  • Central & South America

    • Brazil

  • Middle East & Africa

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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
For more information: https://www.grandviewresearch.com/

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