DUBLIN--(BUSINESS WIRE)--The "Automotive Glass Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The global automotive glass market is expected to register a CAGR of around 7%, during the forecast period, 2019-2024.
With an increase in the demand in the automobile sector, year after year, the components used to build a vehicle are expected to be consumed more. The growth in the market is primarily driven by the increasing tilt angle in windshields, for greater viewing angles, as well as the increasing demand for sunroofs. The increasing casualty rates in automobile accidents, globally, has brought automobile safety under the focus. This also has emerged as a driver for the automotive glass market, as automobile manufacturers are pushing the OEMs to manufacture glass, with much higher safety standards, for all vehicle segments.
Companies Mentioned
- Asahi Glass Co.
- Nippon Sheet Glass
- Fuyao Group
- Xinyi Glass
- Saint Gobain
- Guardian Automotive
- Webasto
- Benson Auto Glass
- Carlex Glass
- Magna International
Key Market Trends
Increasing Application of Glass in Automobiles
Increasing usage of sunroof glass, particularly in high-end vehicles, is anticipated to have a positive impact on the growth of the automotive glass market. Nowadays, consumers are showing preference toward a sunroof in the car, which has lead to an increase in the utilization of glass. Installation of the sunroof is now not only limited to the luxury car segment, but has also been introduced to the other segments, by car manufacturers, like Honda and Toyota. In addition, advancements in vehicle design have led to an increase in the size of the windshield and side windows, thereby leading to the overall development of the industry.
Smart glass has been forecast as the future of the automotive industry. Most of the research has been directed toward improving and making smart glass applicable to mainstream vehicles. It can be used to provide a head-up display in the automobiles, just like in the glass cockpit of a helicopter. This makes accessibility to all the controls much more comfortable, and also enhances the ambiance of the vehicle. Manufacturers, like Mercedes and Volvo, are putting in a lot of effort to make this into a reality, in automobiles.
Asia-Pacific - Expected to be the Fastest Growing Region
Countries in the Asia-Pacific region, like China and India, are forecast to be the fastest growing automotive glass markets. Some of the major factors driving the growth of the market are a rise in sales of passenger cars in the ASEAN countries, increasing sales of luxury cars in China and India, and the increasing demand and preference for a sunroof in the vehicles (aftermarket segment, especially for low-cost vehicles). China, despite a struggling economy (for last few years), is expected to continue to be the driver of the market, with Japan being the hub of technology in the automotive sector. These are driving the growth of the Asian market's car segment. Some of the other rising markets in the Asian region are Vietnam, Indonesia, and the Philippines.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Regular Glass
5.1.2 Smart Glass
5.2 By Application Type
5.2.1 Sunroof
5.2.2 Rear View Mirrors
5.2.3 Windshield
5.2.4 Other Application Types
5.3 By Vehicle Type
5.3.1 Passenger Vehicles
5.3.2 Commercial Vehicles
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Rest of South America
5.4.5 Middle East & Africa
5.4.5.1 United Arab Emirates
5.4.5.2 South Africa
5.4.5.3 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/6f0krm
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