Automotive Glass Market Size By Product (Laminated, Tempered), By Application (Sidelite, Backlite, Windscreen), By End-use (Original Equipment Manufacturer, Aftermarket Replacement Glass), By Vehicle (Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicle), COVID19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Landscape & Forecast, 2021 - 2027
The automotive glass market is projected to witness substantial growth by 2027, registering a notable CAGR through the forecast period. Increasing market adoption, especially in regions with adverse climate conditions, is expected to drive industry growth in the coming years.
Automotive glass is crucial in vehicles to offer the driver a clear and undistorted view of the road and any other hurdles in their surroundings. It is especially beneficial for driving in adverse weather conditions.
Extreme weather conditions like rain, sun, dust, and fog can disrupt the driver’s ability to drive safely. Therefore, in such cases, automotive glasses are vital.
For instance, in foggy weather, defogger automotive glasses help drivers drive safely and securely. Defogger glasses offer clear visibility to drivers by removing ice and condensation from the backlite. These glasses collect snow to allow the wiper to move freely, making it easy to drive after a snowfall.
Similarly, high temperatures, strong winds, and sun glare can also affect the driver’s ability to see the road clearly. Driving towards the sun can lead to distorted road visibility.
In such cases, specialized glasses have superior heat absorption properties that keep the temperature inside the car cooler. This reduces the load on the car’s AC unit and improves the vehicle’s fuel efficiency.
Thus, vehicle owners opt for automotive glasses that can help them view the road clearly and minimize the risk of accidents, which is projected to boost market adoption over the projected timeframe.
The automotive glass market has been segmented based on product, application, end-use, vehicle, and region.
In terms of application, the market has been divided into sidelite, backlite, and windscreen. The backlite sub-segment is anticipated to observe significant growth in the assessment period owing to increasing initiatives taken by industry players to enhance visibility in all weather conditions.
On the basis of end-use, the market has been bifurcated into OEM, aftermarket, and passenger cars. The passenger cars sub-segment is expected to witness robust growth through the forecast period due to surging product demand in developing economies.
Escalating vehicle adoption driven by rising disposable income, especially in emerging nations, is expected to boost passenger cars penetration in the automotive glass market over the analysis timeframe.
From the regional perspective, the Latin America market is slated to observe sizable growth at a CAGR of 6.0% over the projected timeframe. Growing middle class population in the region, coupled with rising income levels, is expected to foster automotive glass market outlook in the following years.
On the other hand, the Middle East & Africa market is expected to witness robust growth at a 5.0% CAGR through the analysis timeframe.
Increasing investment, supported by favorable government policies in the region to reduce the dependence on an oil-based economy, is projected to propel industry growth through the analysis period.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook