The Worldwide Automotive Glass Industry is Anticipated to Reach $29.9 Billion by 2030

 The "Automotive Glass Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to  ResearchAndMarkets.com's offering. 

The global automotive glass market was valued at US$ 17.47 Bn in 2021 and is anticipated to grow to US$ 29.98 Bn growing at a CAGR of 6.3% throughout the forecast period from 2022 to 2030.

Despite the challenging environment, the automotive market posted modest growth during 2020-21. According to report published by International Organization of Motor Vehicle Manufacturers (OICA) the global sales of automotive vehicle was 95,055,937 units globally. Thus driving the growth of the automotive glass market. Factors including rapid development of infrastructure, and support from fiscal stimuli among other are further fueling the market growth.

The sales of automotive will be affected by technical advancements in vehicle connectivity and integration of safety systems for self-driving cars. Rapid technological advancements have helped in improvising vehicle designs including cross-curvature windows, roofline sweeping glass, and asymmetric shapes. There is a positive im pact on consumers due to increased usage of telematics in vehicles and a shift in consumer preference towards superior comfort vehicles influencing the market growth.

Product Analysis

Based on product, tempered glass was the largest market segment and accounted for over 50% of revenue share of the total market revenue. This can be attributed to the factors including reduced cost, easy manufacturing and high demand of product in both commercial as well as passenger vehicles. In addition, the benefits offered by it including durability and utility in automotive industry among others is expected to drive the market growth.

In contrast, laminated glass segment is anticipated to register fastest growth throughout the forecast period. Owing to the increased usage of laminated glass in windshield, better visibility and enhanced safety among others. Increasing demand for premium features in automotive vehicles is anticipated to facilitate R&D and product development in this segment. Thus boosting the demand of the automotive glass market.

End-use Analysis

Based on end-use, the global automotive glass market is segmented into OEM (Original Equipment Manufacturers) and ARG (Aftersales Replacement Glass). OEM segment leads the market in terms of revenue share and accounts for more than 80% of the market revenue. This can be associated with the increasing sales of vehicles globally and technological advancements for enhancing safety solutions. Thus bolstering the growth of the market.

In comparison, ARG segment is expected to grow at a modest CAGR during the forecast years. Owing to, factors including low cost of installation than OEM, poor installation, accidents, and temperature changes among others. Thus driving the growth of the automotive glass market in this segment.

Regional Analysis

In 2021, Asia Pacific appeared as the market leader and contributed more than 30% to the market revenue of the global automotive glass market. Asia Pacific region is projected to remain dominant throughout the forecast period trailed by Europe. This is due to rapidly developing infrastructure, and increased production and sales in the countries including China and India among others. Thereby fuelling the market growth of automotive glass market. According to report published by OICA, the sales in India increased to 4,400,136 units in 2018 from 4,059,455 units in 2017.

On the contrary, Latin America region is set to register fastest growth throughout the forecast period. Owing to, growing urbanization, expanding automotive industry in the region among others. For instance, the sales of automotive in Brazil increased from 2,172,738 units in 2017 to 2,468,434 in 2018. In addition, Europe appeared as the second largest revenue contributing region to the global automotive glass market with a share of more than 20%.

List of Companies Covered:

• Asahi Glass Co. Ltd.

• Fuyao Group

• Nippon Sheet Glass Co.

• Corning Incorporated.

• Saint-Gobain S.A.

• Guardian Industries Corp.

• Xinyi Glass Holdings Ltd.

• Duratuf Glass Industries Pvt. Ltd.

• CSG Holding Ltd.

• China Glass Holdings Ltd.

• Central Glass Co. Ltd.

Historical & Forecast Period

This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.