Automotive Glass Market Predicted to Achieve $28.3 Billion by 2031 with Robust Growth

Deeya5220

posted on 1 month ago — updated on 1 second ago

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Explore $28.3 billion Automotive Glass market: Get exclusive insights on key market trends, segments, geographical analysis, & competitive analysis!

Meticulous Research®, a renowned global market research organization, has published a comprehensive report titled, “Automotive Glass Market by Glass Type (Laminated Glass, Tempered Glass), Vehicle Type (Passenger Cars, Light Commercial Vehicles, Electric Vehicles), Sales Channel, Application (Sidelight, Windshield, Sunroof), and Geography—Forecast to 2031.”

The report predicts that the global automotive glass market will reach a value of $28.3 billion by 2031, growing at a CAGR of 8.9% over the forecast period.

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Key drivers for this growth include the rising demand for electric and hybrid vehicles, an increase in overall vehicle sales, and the growing adoption of sunroofs in passenger cars. However, the market's expansion is constrained by high setup costs for automotive glass manufacturing and fluctuating raw material prices.

The report also identifies significant opportunities in the increasing use of smart glass in automotive applications. Nevertheless, challenges remain, particularly related to safety concerns surrounding laminated glass.

To provide a detailed analysis, Meticulous Research® has segmented the market by glass type, vehicle type, sales channel, application, and geography. The study also offers a competitive analysis and market insights at regional and national levels.

The automotive glass market is categorized by glass type into laminated glass, tempered glass, and other types. Laminated glass is expected to hold the largest market share in 2024, driven by increased consumer focus on safety and its widespread application in windshields and side windows. This segment is also projected to experience the highest growth rate during the forecast period.

By vehicle type, the market includes passenger cars, light commercial vehicles, heavy commercial vehicles, electric vehicles, and other categories. The passenger car segment is anticipated to dominate the market in 2024, fueled by rising vehicle sales due to increasing disposable incomes and shifting consumer preferences. Conversely, the electric vehicle segment is expected to register the fastest growth, driven by favorable government policies, increased investments in EV development by leading automotive OEMs, and growing environmental consciousness.

The market is further divided into OEMs and aftermarket by sales channel. The OEM segment is predicted to capture the largest share of the market in 2024, driven by the rising demand for high-quality automotive glass, the adoption of advanced technologies in vehicles, and consumer preference for OEM glass, which offers a warranty and added reliability. This segment is also projected to grow at the highest CAGR during the forecast period.

Regarding applications, the market is divided into sidelight, windshield, sunroof, rear window, taillight, and other uses. Windshields are expected to hold the largest market share in 2024, driven by the demand for safety features, soundproofing, and UV protection in vehicles. Meanwhile, the sunroof segment is expected to grow at the highest rate, driven by the rising adoption of sunroofs in passenger cars, advancements in automotive technology, and changing consumer preferences.

Geographically, the global automotive glass market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is forecasted to dominate the market in 2024, driven by increasing vehicle production, rising demand for electric vehicles, and growing government focus on vehicle safety in the region. This region is also expected to register the highest growth rate during the forecast period.

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Key Players:

The key players operating in the global automotive glass market are AGC Inc. (Japan), Nippon Sheet Glass Co., Ltd. (Japan), Fuyao Glass Industry Group Co., Ltd. (China), Xinyi Glass Holdings Limited. (Hong Kong), Saint-Gobain (France), Webasto Group (Germany), Magna International Inc. (Canada), Corning Incorporated (U.S.), Guardian Industries (U.S.), Gentex Corporation (U.S.), TAIWAN GLASS IND. CORP. (Taiwan), Central Glass Co., Ltd. (Japan), Motherson Group (India), Schott AG (Germany), Vitro (Mexico), and Sisecam Otomotiv A.S. (Turkey).

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Key questions answered in the report:

Which are the high-growth market segments in terms of glass type, vehicle type, sales channel, application, and geography?
What is the historical market for automotive glass?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, and opportunities in the global automotive glass market?
Who are the major players in the global automotive glass market, and what are their market shares?
What is the competitive landscape like?
What are the recent developments in the global automotive glass market?
How do major players adopt the different strategies in this market?
What are the geographic trends and high-growth regions in the market?
Who are the emerging players in the global automotive glass market, and how do they compete with the other players?