Automotive Glazing Market to Surpass USD24,353.29 Million by 2026
Increasing automobile sales and surge in research and
development investment across the world to drive global automotive glazing
market.
According to
TechSci Research report “Automotive Glazing Market - Global Industry Size, Share,
Trends, Competition, Opportunity, and Forecast, 2016-2026”, the
global automotive glazing market is expected to grow at a CAGR of 8.55% in
value terms in the next five years to reach USD24,353.29 million by 2026. The growing
production of vehicles and booming demand for passenger safety is aggravating
the demand for automotive glazing as it acts as a safety shield for the
vehicles at the time of collision.
Automotive
glazing is one of the crucial components of automobiles and is generally
incorporated in windshields, sidelights, and sunroofs in some vehicles. Automobile
manufacturers are also adding a roof support structure made of glazing on
either side of the rear window known as the C pillar window. The improved product offering is the primary
reason for the addition of sunroofs in vehicles, and therefore there is a common
trend to implement them in premium passenger cars. Increased installation or
adoption of sunroof feature in vehicle is bolstering the growth of the
automotive glazing market.
Many automotive
manufactures are using coating in windshield glasses to protect vehicles from
harmful radiations of infrared and UV rays. Reflective coatings are done in
front and back of windshields. To protect the vehicle from UV and Infrared
rays, ceramic coatings are done between the layers of the windshield glasses.
These coatings last around 1-3 years in any vehicle therefore, there will be a
need to change the glazing of the glass or replace it with the new one. So, the
need to change the coating in vehicles over a certain period is propelling the
growth of the automotive glazing market.
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Pages and an in-depth TOC on “Global Automotive Glazing Market."
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Global Automotive
Glazing market can be segmented based on by product, application, vehicle type,
company and region. In terms of vehicle type, the market is segmented into
passenger cars, light passenger vehicles, medium and heavy commercial vehicles.
The demand for passenger car glazing has increased significantly in the past
few years globally. The passenger car glazing segment accounted for 79.99%
market share in 2020 and the segment’s share is projected to reach around
80.15% by 2026. In the past few years, a significant rise in the SUV sales has
been observed in all the regions. SUVs have the most utilization of automotive
glazing in the passenger car segment as most of the SUVs come with the sunroof
and C-pillar which leads to higher demand for glazing.
Automotive
glazing has stringent standards called Automotive Glass Replacement Safety
Standard (AGRSS) implemented by the Auto Glass Safety Council (AGSC) for the
installation or replacement of windshields in vehicles. Hence, only handful
companies hold significant share in the market.
Some of
the major players operating in the global automotive glazing market are:
·
Covestro
AG
·
Fuyao
Glass Industry Group Co., Ltd.
·
AGC
Inc.
·
Nippon
Sheet Glass Co., Ltd
·
Corning
Incorporated
·
Webasto
Group
·
Central
Glass Co., Ltd.
·
Schott
AG
·
Saint-Gobain
Group
·
Vitro,
S.A.B de C.V
Market players
are investing in technological advancements so that weight of the glazing can
be reduced while making it safer, flexible and durable. Auto-component major,
Continental AG, launched intelligent glazing control which can be used to dim
or reduce lighting in premium vehicles. Similarly, Apple is working on the
implementation of augmented reality windshield systems in vehicle.
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“The
Asia-Pacific automotive glazing market stood at USD8583.26 million in terms of
value in the year 2020 and is expected to reach USD13460.79 million by 2026,
growing with a CAGR of 8.93% in the forecast years. The presence of leading
original equipment manufacturers (OEM) with high vehicle production capacities
in different countries of the Asia-Pacific region especially in China, is the
key factor driving the automotive glazing market in the region. China has the
dominant share in the OEM production in the Asia-Pacific region and the country
leads the growth of automotive glazing market.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Automotive Glazing
Market - Global Industry Size, Share, Trends, Competition, Opportunity and
Forecast, 2016-2026,Segmented By Product (Tempered Glass, Laminated
Glass and Polycarbonate), By Application (Front Windshield, Sidelite, Rear
Windshield and Sunroof), By Vehicle Type (Passenger Car, Light Commercial
Vehicles and Medium & Heavy Commercial Vehicle), By Region”, has evaluated the future growth potential of
global automotive glazing market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in the global Automotive
Glazing market.
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