The latest market report published by Credence Research, Inc. “Global Automotive Glass Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The worldwide automotive glass market has grown steadily in recent years and is predicted to increase at a 5.80% CAGR between 2023 and 2030. In 2022, the market was valued at USD 23.1 billion, and it is predicted to grow to USD 34.2 billion by 2030.
The global automotive glass market is segmented based on glass type, application, vehicle type, and region. Tempered automotive glass dominates the product market, with windshields and sunroofs being the key application sectors. Passenger vehicles are expected to be the most popular vehicle type, with Asia Pacific leading the market growth.
Several factors drive the global automotive glass industry, including the increasing demand for high-end vehicles with sunroofs, stringent government safety regulations, and the growing interest in electric and hybrid vehicles. However, the market also faces significant challenges, such as intense competition, low profit margins, and fluctuating raw material prices.
The market is highly competitive, with key players including Saint Gobain Sekurit, Fuyao Glass Industry Group Co. Ltd, AGC Inc., Xinyi Glass Holdings Limited, and others. Key players in the global automotive glass market focus on product innovation, expanding their distribution channels, and strategic mergers and acquisitions to maintain their competitive position in the market.
U.S. Automotive Glass Market Drivers refer to the various factors that propel the growth and development of this sector within the automotive industry. One crucial driver is the constant advancement in automobile technology, leading to an increased demand for sophisticated glass components. This includes innovations like smart windshields equipped with heads-up displays (HUDs) and advanced driver-assistance systems (ADAS), providing enhanced safety features and improving driving experience. Moreover, changing consumer preferences towards aesthetics have contributed significantly to market growth, as manufacturers now offer a wide range of stylish and visually appealing glass options for vehicles.
Additionally, stringent government regulations mandating improved fuel efficiency encourage automakers to incorporate lightweight materials such as thin laminated glass in their designs, further boosting market demand.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Automotive Glass Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- Major nations in each region with their import/export statistics
- The global Automotive Glass Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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