Automotive Glass Market to Grow at 7.28% CAGR during 2019 to 2025, according to Global Automotive Glass Market 2019 Industry Analysis Research Report published by Market Research Future. Automotive Glass Market Share, Size, Competitor depth analysis with forecast and historic market data is covered in this report. Market for Automotive Glass is segmented by Type (Tempered and Laminated Glass), Vehicle Type (Passenger Car, Light Commercial Vehicle and Heavy Commercial Vehicle), Application (Windscreen, Sidelite, Backlite and Sunroof) and Region (North America, Europe, Asia–Pacific and Rest of the World) with global industry forecast to 2025.
The dominating players operating in the worldwide automotive glass market include Vitro, S.A.B. de C.V. (Mexico), Nippon Sheet Glass Co. Ltd (Japan), Guardian Industries Corp (US), Xinyi Glass Holdings Limited (Hong Kong), Asahi Glass Co., Ltd (Japan), Fuyao Glass Industry Group Co. Ltd (China), Saint Global S.A. (Paris), Central Glass Co. Ltd (Tokyo), Shatterprufe (South Africa), and Olimpia Auto Glass Inc. (Turkey).
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Market Overview
Automotive glass assists in maintaining the safety of the vehicle. The automotive glass comprises different parts such as side and rear windows, roof of the vehicle with a glass panel, and windscreen. The surging demand for passenger vehicles, expanding environment concerns, rising urban population, growing environmental concerns, and increasing per capita disposable earnings of the middle-class population, are propelling the worldwide automotive glass market.
Market Research Future (MRFR) asserts in its reports that the global automotive glass market is estimated to develop at a projected CAGR of 7.28%. During 2018, in regard to value, the worldwide automotive glass market was led by APAC followed by the Europe and North America. The North America automotive glass market is being ruled by the US, followed by Canada. North America has been a major manufacturer of automotive glass owing to the prevalence of established players within the automotive glass market. Furthermore, the spurring demand for passenger cars has led to the increasing demand for automotive glass globally. APAC to Witness Growth in Automotive Glass Market
Market Segmentation:
The automotive glass market across the world has been classified based on type, application, region, and vehicle type. According to type, the worldwide market has been divided into laminated and tempered glass. During 2018, the laminated glass segment was expected to reflect notable growth in terms of worth, throughout the estimation period. Laminated glass is easy to install, durable, and soundproof. Therefore, the demand for laminated glass is progressively increasing among auto glass makers. According to the vehicle type, the worldwide automotive glass market has been divided into light commercial vehicle, heavy commercial vehicle, and passenger car. The passenger car segment represented the major share of global automotive glass market throughout the period of estimation. The market for automotive glass is predominantly driven by the increasing demand for increasing per capita income in developing countries, the expanding usage of glass in automotive, and passenger cars. According to application, the automotive glass market has been divided into sidelight, windscreen, sunroof, and backlight. The windscreen segment is likely to observe considerable growth on account of its expanding consumption in the automotive sector.
Regional Analysis
According to region, the automotive glass market across the world has been segmented into Asia-Pacific (APAC), Europe, North America, and the rest of the world (RoW). The automotive glass market is likely to experience prominent growth in APAC throughout the forecast period on account of the increasing sales of passenger cars, surging integration of glass in vehicles, wide popularity of vehicle sunroof, and technical progressions. The rest of the world comprises regions such as Latin America and the Middle East & Africa. The automotive market in Latin America has been developing at a double-digit CAGR, with spurring growth accredited to the automotive parts. Moreover, there has been a noteworthy rise in the demand for luxury vehicles across the emerging economies of the region, which is propelling the growth of the market. MEA has arisen as one of the fast-developing automotive markets worldwide, with countries including Nigeria outlaying millions on import of various vehicle types from Canada, Germany, and the US. The primary drivers attributing to the expansion of automotive glass market in this segment comprise rapid urbanization, growing population, rising disposable incomes, transforming living standards, and growing economies.
List of Figures:
FIGURE 1 RESEARCH PROCESS OF MRFR 16
FIGURE 2 TOP-DOWN AND BOTTOM-UP APPROACH 18
FIGURE 3 MARKET DYNAMICS 20
FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS 21
FIGURE 5 SALES OF NEW VEHICLES, 2011–2014 21
FIGURE 6 TOTAL AUTOMOTIVE R&D SPEND (DOMESTIC & IMPORTED) (USD BILLION) 22
FIGURE 7 IMPACT ANALYSIS: MARKET RESTRAINTS 23
FIGURE 8 IMPACT ANALYSIS: OPPORTUNITIES 24
FIGURE 9 FIVE FORCES ANALYSIS 25
FIGURE 10 VALUE CHAIN ANALYSIS 27
FIGURE 11 GLOBAL AUTOMOTIVE GLASS MARKET, BY TYPE, 2018 (%) 30
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