Meticulous Research®—a leading global market research company, published a research 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’
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According to this latest publication from Meticulous Research®, the global automotive glass market is projected to reach $28.3 billion by 2031, at a CAGR of 8.9% during the forecast period. The growth of the automotive glass market is attributed to the growing demand for electric and hybrid vehicles, increasing sales of vehicles, and increasing penetration of sunroofs in passenger cars. However, the high initial and set-up costs of automotive glass plants and fluctuations in raw material prices restrain the market’s growth.
Moreover, the increasing use of smart glass in the automotive industry offers significant opportunities for the growth of the global automotive glass market. However, safety concerns regarding laminated glass pose a challenge to the market's growth.
Meticulous Research® has segmented this market based on glass type, vehicle type, sales channel, application, and geography for efficient analysis. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on glass type, the global automotive glass market is segmented into laminated glass, tempered glass, and other glass type. In 2024, the laminated glass segment is expected to account for the largest share of the global automotive glass market. The large market share of this segment is attributed to the increasing consumer preferences for safety standards and increasing use of laminated glass in windshields and side windows of vehicles. Moreover, the segment is also projected to register the highest CAGR during the forecast period.
Based on vehicle type, the global automotive glass market is segmented into passenger cars, light commercial vehicles, heavy commercial vehicles, electric vehicles, and other vehicle type. In 2024, the passenger cars segment is expected to account for the largest share of the global automotive glass market. The large market share of this segment is attributed to the increasing sales of passenger cars due to the increasing disposable income of consumers and changing consumer trends.
However, the electric vehicle segment is projected to register the highest CAGR during the forecast period. The growth of this segment is attributed to supportive government policies and regulations, increasing investments in EV development by leading automotive OEMs, rising environmental concerns, and increasing consumer demand for electric vehicles.
Based on sales channel, the global automotive glass market is segmented into OEMs and aftermarket. In 2024, the OEMs segment is expected to account for the larger share of the global automotive glass market. The large market share of this segment is attributed to the increasing demand for safety and quality in automotive glass, growing adoption of advanced technologies in vehicles, and increasing consumer preference for OEM glass as it offers a warranty, providing consumers with added assurance and protection. Moreover, the segment is also projected to register the highest CAGR during the forecast period.
Based on application, the global automotive glass market is segmented into sidelight, windshield, sunroof, rear window, taillight, and other applications. In 2024, the windshield segment is expected to account for the largest share of the global automotive glass market. The large market share of this segment is attributed to the increasing demand for safety and advanced features such as sound insulation and UV protection in vehicles and technological advancement for enhancing appearance and features in vehicles.
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However, the sunroof segment is projected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing penetration of sunroofs in passenger cars, technological advancement in the automotive industry, and changing consumer preferences to enhance the driving experience.
Based on geography, the global automotive glass market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of the global automotive glass market. Factors such as increasing vehicle production in the region, increasing demand for electric vehicles in the Asia-Pacific region, increasing consumer preferences for SUVs in China and India, and increasing government's focus on vehicle safety are expected to drive the growth of the automotive glass market in this region. Moreover, this region is projected to register the highest CAGR during the forecast period.
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?
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