Market Outlook:
The Automotive Glass market will obtain a value of USD 36.54 Billion and a CAGR of 9.58% between 2023-2030. Car Glassed are decorative car windows that protect passengers from the elements such as rain, wind, and sunlight. Increased car demand and rising affluence in various countries will drive the global auto glass industry ahead.
The growth of the auto glass market is anticipated to be fueled by rising concerns about passenger safety as well as the development of smart glass technologies to enhance visibility, comfort, and sunlight protection. Additionally, it is anticipated that the growth of the auto glass market will be aided by rising demand for lightweight vehicles, as well as by advancing technology and innovative vehicle design. The Auto Glass Market is currently experiencing a trend that is expected to support the expansion of the target market over the forecast period: an increase in the use of solar control glasses for cars to increase fuel efficiency. Around the world, increased industrialization, urbanisation, and economic processes are driving up demand for automobiles, which in turn is driving up demand for auto glass.
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Regional analysis:
The global market for automobile glass is fiercely competitive. Industry players are always innovating and seeking market expansion through innovations, new releases, mergers and acquisitions, cost-effective portfolios, and increased RD investments to preserve their position and drive market growth. They're also buying other companies and investing in internal research and development. These methods allow industry firms to broaden their market reach, enhance their positions, meet the growing wants of consumers, and stay ahead of the competition.
Industrial news:
January 2021- General Motors has revealed the Cadillac Celestiq, an electric vehicle with a smart glass roof.
Webasto provided the sliding panorama sunroof for the next Mercedes-Benz S-Class in June 2021. The sedan's interior has a lovely bright mood thanks to the huge glass surface. Two independently adjustable roller blinds can give shading as needed. The modular roof system and blinds can be controlled easily and independently using gestures and voice commands.
Key Companies in the Car Glass market includes
- Shatterprufe
- Olimpia Auto Glass Inc.
- Saint S.A.
- Central Glass Co. Ltd
- Asahi Glass Co., Ltd
- Fuyao Glass Industry Group Co. Ltd
- Guardian Industries Corp
- Xinyi Glass Holdings Limited
- Cadillac Celestiq
- B. de C.V.
- Nippon Sheet Glass Co. Ltd among others
Segmentation:
The Car Glass market is divided into different segments such as:
By type: A current trend in the Auto Glass Market is the increased usage of solar control glasses for vehicles to improve fuel efficiency, which is expected to boost the target market's growth throughout the forecast period. Increased demand for automobiles is being driven up by increased industrialization, urbanization, and economic processes around the world, which in turn is pushing up demand for Auto Glass. Investors must increase their stakes in the automotive business as their wealth develops.
By application: The market is divided into two segments based on application: Automobile Manufacturer Industry and Automobile Aftermarket Industry.
By geography: The Global Auto Glass Market is divided into four regions based on regional analysis: North America, Europe, Asia Pacific, and the Rest of the World. The North American Auto Glass Market accounted for the largest share of revenue worldwide, followed by the European market, due to growing awareness of passenger safety and increased use of technologically sophisticated glass in the automobile sector in countries in the region. The Asia Pacific market is expected to grow at a significant CAGR in the global market due to growing transportation operations in nations around the region.
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