The global auto glass market is projected to grow at an escalating rate reaching close to USD 30.18 billion by 2028. The market is expected to gather a significant CAGR growth of nearly 6% over the forecast years 2018 to 2028. The sustainable rise in the growth can be attributed to the surging demand for automotive products and product components along with the rapidly growing sales from the aftermarket which are among the crucial factors augmenting the growth of the global auto glass market.
However, higher capital costs associated with the product offerings and container handling equipment along with the requirement for robust capital investment to accelerate intensive R&D activities for product development are some of the factors restraining the growth of the global auto glass market.
A positive market expansion tendency in the Asia Pacific countries such as India and China are driving new opportunities for market expansion. Regulatory framework governing clean commutation across these countries are furthering new auto glass technology, thereby allowing growth milestones. Technologies such as solar green glass and acoustic glass components are some of the latest trends pushing the global market for auto glass industry.
Auto glass or automotive glass is an essential component of a vehicle which is highly unlikely to be replaced by its crucial position in the automotive sector. Auto glasses are one of the most basic yet very vital aspects of vehicles therefore fuelling the constant development of the auto glass repair market. Even though an automotive glass is not among the most prominent features advertised by vehicle manufacturers it certainly is an essential one in terms of driver’s safety.
Auto glass replacement market comprises of all the glass windows and shields used in a car including the windshields and rear-view mirrors. Auto glass despite the similar appearance to glass used in residential windows and doors is way more effective in terms of barrier management. It is highly effective in sustaining the force exerted by rocks, fender benders or even potholes while driving wherein if normal glass material encounters such difficulties would shatter rather quickly.
Auto glasses are specialised in protecting the passengers inside a vehicle due to their exclusive formulations. For instance, certain glass materials are composed of dolomite, silica fine sand, cullet, soda ash, and limestone resulting in a perfectly designed windshield.
The global auto glass market players are firmly established with the surging number of emerging players entering the market with a view of modernizing the traditionally integrated production techniques and conservative approach on product development. The increasing threat of young market entrants along with the fast-paced upgradation in manufacturing technology and evolving applications has resulted in market consolidation.
The major players of the global auto glass market are Gentex Corporation, Saint-Gobain, Xinyi Glass, Asahi Glass, Corning, Fuyao Glass, Nippon Sheet Glass, Samvardhana Motherson, Magna International, Guardian Glass, AGC, and Webasto. The auto glass market consists of a vast landscape housing well-established local as well as global players. In addition, the determined market players are proposing a new range of pipeline product services and strategic innovations advancing the technological capabilities of the product portfolio to sustain in the fiercely competitive global market.
Auto Glass Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 30.18 billion|
|Growth Rate||CAGR of 6% during 2021-2028|
|Segment Covered||Glass Type, Application, Vehicle Type, End-Use, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Gentex Corporation, Saint-Gobain, Xinyi Glass, Asahi Glass, Corning, Fuyao Glass, Nippon Sheet Glass, Samvardhana Motherson, Magna International, Guardian Glass, AGC, and Webasto|
Key Segments of the Global Auto Glass Market
Glass Type Overview, 2018-2028 (USD Billion)
- Laminated Glass
- Tempered Glass
Application Overview, 2018-2028 (USD Billion)
Vehicle Type Overview, 2018-2028 (USD Billion)
- Heavy Commercial Vehicle
- Light Commercial Vehicle
- Passenger Cars
End-Use Overview, 2018-2028 (USD Billion)
- Original Equipment Manufacturer
- Aftermarket Replacement Glass
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of Europe
Middle East & Africa
Reasons for the study
- The primary goal of the study is to construct a fully inclusive and decisive research of the global auto glass market imparting relevant repertoire of data allowing you to benchmark against the rest of the market.
- Provide competitive benchmarking reflecting the innovations accelerated by existing players to enhance the market growth.
What does the report include?
- The study on the global auto glass market provides a holistic study consisting of qualitative factors including the market drivers, opportunities, restrains, and challenges.
- The study encompasses an accurate assessment of the competitive landscape covering the existing and prospective players in the global auto glass market highlighting the significance of their strategic initiatives to enhance product development.
- The study provides an organized report of growth deliverables covering qualitative and quantitative analysis of the various component elements of the market segmented based on the type of glass, application, end use and type of vehicle. Key geographies are also analysed based on a similar survey.
- Accurately evaluated market sizes and share along with forecasts are incorporated with each of the mentioned segment.
Who should buy this report?
- The study on the global auto glass market provides a comprehensive guide for all the players across the industry supply chain right from raw material providers, distributors, consumer, and manufacturers with other intermediaries of the supply chain
- Entrepreneurs, business investors, and stakeholders looking for actionable information on the future outlook of the global auto glass market
- Consultants, analysts, automotive industry experts and engineers seeking valuable insights shaping the global auto glass market.
A rapidly rising demand for advanced automotive vehicles with growing popularity of electric and hybrid vehicles coupled with the scaling up technological advancements in the automotive sector are among the major drivers boosting the global auto glass market growth over the forecast period. Increasing efforts on curbing automotive-generated emissions along with the stringent environmental-focused regulations are further accelerating the growth of the global auto glass market.
Increasing preferences by consumers and manufacturers towards eco-friendly cars as a result of the encouraging push of government with the adoption of sustainable choices is further to escalate the demand for the global auto glass replacement market. Enormous growth in automotive sector worldwide with maximization of production capacities has resulted in a robust automotive sector globally driving the demand for automotive glass.
The global auto glass repair market is expected to witness gradual growth owing to the firm establishment of refurbished vehicles industry accelerating the need for component replacement. In addition, the potential stabilization of costs associated with the raw materials such as lime, soda ash along with oxides of potassium, magnesium, and aluminum are propelling the growth prospects of the global auto glass market amidst the skyrocketing prices of fuel.
Glass Type Segment
While the tempered glass segment is expected to gain momentum over the forecast years, the laminated glass segment is expected to project massive growth registering fastest growth owing to the wide usage of laminated glass in windshield manufacturing. Laminated glass technologies such as the application of laminated side glazing allows better security for the passengers and the driver and is among the most prominently desired automotive technologies, thereby thrusting growth maximization.
Windscreen is the most predominant segment with a significant share of the auto glass application market and is likely to continue with a sustainable growth rate. Sidelite application segment is expected to grow significantly estimated to achieve an attractive CAGR over the forecast years primarily due to the increasing development activities focused on enhancing the efficiency of sidelite glass in automotive vehicles with its existing ability to protect against harsh environment, strong winds, debris, sunrays, and UV radiations.
Vehicle Type Segment
Passenger cars segment is expected to witness a substantial rise in growth over the forecast years attributed to the rising disposable income, strengthening middle-class population across developing countries and higher favourability associated with the reimbursement of loans across various emerging economies. Increasing prevalence of replacement and repair needs of automotive glass in passenger cars is accelerating the growth of the segment over the forecast period.
The OEM segment largely dominated the global auto glass market with a significant share in the past and is estimated to register similar trend over the forecast years attributed to the increasing modernization and rapidly surging production of electric vehicles and advanced technologies resulting in hybrid technology-based vehicles and growing consumer awareness associated with the environmental implications of the traditional technologies.
In the year 2020, Asia Pacific accounted for over 40% of the global auto glass market share and the region is likely to offer lucrative growth opportunities for the market growth over the forecast years. The region displays economies like China with a massive auto glass production driven by the placement of large-scale automotive glass manufacturing players.
The industry is experiencing fast paced expansion in other countries including India, Malaysia, and Thailand with burgeoning demand for automotive products. Europe follows next to Asia Pacific accounting for second-largest market share owing to the increasing consumer awareness and initiatives in the electric vehicles with rapidly growing sales. The regional growth is also encouraged further by the stringent regulations driving the technological projects across sustainable vehicles.