Automotive Glazing Market to Reach a Valuation of ~US$ 61 Bn by 2027: Transparency Market Research
Transparency Market Research has published a new report on the global automotive glazing market for the forecast period of 2019–2027. According to the report, the global automotive glazing market is projected to reach ~US$ 61 Bn by 2027, expanding at a CAGR of ~5% during the forecast period.
Global Automotive Glazing Market: Key Insights
- According to the report, the global automotive glazing market is projected to expand at a steady pace due to the rise in vehicle production across the globe.
- Rise in consumer demand for fuel-efficient cars, better visibility, and aesthetic appearance is projected to drive technology development in the automotive glazing market.
- Increasing stringency regarding emission norms and consumer demand for comfort are estimated to drive the demand for advanced glazing technologies and lightweight polycarbonate glazing.
Expansion of Global Automotive Glazing Market
- Increased vehicle production coupled with a rise in the spending power of consumers, particularly in developing countries, is estimated to boost the automotive glazing market. The emergence of the automotive industry in Mexico, India, and Brazil is set to expand the automotive glazing market.
- Vehicle sales in the U.S. registered seven consecutive years of growth in 2017. Mexico emerged as a key exporter of vehicles to North America and Europe, and companies such as Audi, Kia, FCA, BMW and Toyota announced plans to start new assembly plants and increase vehicle production in Mexico.
- Lightweighting is of critical importance for electric vehicles. The rising adoption of electric vehicles is expected to boost the demand for polycarbonate glazing, and, in turn, drive the growth of the automotive glazing market.
Based on technology, the global automotive glazing market has been classified into sun control glazing, hydrophobic glazing, switchable glazing, and conventional. Rising digitalization and consumer demand for connectivity solutions, such as smart windows and heads-up-displays, are likely to propel the demand of switchable glazing in the global automotive glazing market.
Based on vehicle, the global automotive glazing market has been divided into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. The passenger vehicles segment held a major share of the global automotive glazing market. It is anticipated to maintain its leading share due to the higher production volume of passenger vehicles. Rising demand for light commercial vehicles in developing countries, coupled with expansion of SMEs, is expected to boost the automotive glazing market.
Regional Analysis of Global Automotive Glazing Market
In terms of region, the global automotive glazing market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Rising vehicle production in Mexico, Brazil, China, and India is projected to boost the automotive glazing markets in Latin America and Asia Pacific. Europe and North America hold a considerable share of the global market, owing to the higher penetration of glazing technologies such as sun control, in these regions.
Global Automotive Glazing Market: Key Players
Prominent players operating in the global automotive glazing market include Corning Incorporated, Covestro AG., Fuyao Group, SABIC, AGC Inc., Saint-Gobain , Soliver , Nippon Sheet Glass Co., Ltd, TEIJIN LIMITED, Glaston Corporation, freeglass GmbH & Co.KG., Webasto, and KRD Sicherheitstechnik GmbH.
Global Automotive Glazing Market: Segmentation
- Automotive Glazing Market by Technology
- Sun Control Glazing
- Switchable Glazing
- Hydrophobic Glazing
- Automotive Glazing Market by Application
- Front Windshield
- Quarter Glass
- Panoramic Sunroof/ Roof modules
- Automotive Glazing Market by Sales Channel
- Automotive Glazing Market by Vehicle
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Automotive Glazing Market by Glazing Type
- Automotive Glazing Market by Region
- North America
- Italy & Spain
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
- North America
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