DUBAI, UAE / ACCESSWIRE / November 4, 2020 / The automotive glass market is likely to surpass US$ 16.8 billion through 2030, according to a new research study by Future Market Insights.
According to the study, high strength and lower price structure drives the adoption rate of the automotive glass but inadequate standardization continue to hinder the market growth prospects.
"Car companies are incorporating glass canopies while also fuelling the use of automotive glass in rear view mirrors and electronic sensors," says the FMI Analyst.
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Automotive Glass Market - Key Highlights
•Tempered automotive glass accounts for 65% of revenue share.
• Electric section will remain lucrative in the automotive glass market during the assessment period.
• East Asia is likely to have the largest market share for automotive glass globally
•OEM sales will remain prominent by holding a share of 80% through 2030.
Automotive Glass Market - Driving Factors
• Escalating demand in electronic sensors, rear-view mirrors and cameras helps the market in witnessing a steady yet significant growth.
• High demand for smart glass in implanting moon roof, sun roof by automobile producing firms is driving the market to a commendable extent.
• Availability of product at a lower price and access to advanced technology is paving tracks for market enlargement.
• Continuous demand for environmental friendly product to manufacture innovative product and use in vehicle windows has led to a gradual growth of this market.
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Automotive Glass Market - Key Restraints
• Testings' and analysis needs higher capitalization, thereby, limiting investment in this sector.
• Hiking value of raw materials is inflicting gap in supply and demand chain which brings about a negative growth prospect.
Expected Impact on Market by Coronavirus Outbreak
Lockdowns have had a severe impact on the market. Pandemic has led to lesser demand for automotive glass and this market has witnessed considerable disturbance within the supply chain too. The market might revive because of straightforward restrictions currently and better demand for invasive electrical vehicles.
Global sales of these glasses are expected to decline by 15%. Vehicle sales in USA were down by 38% while 25% decline was seen in passenger car registrations in Europe.
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Competitive Landscape
Automotive glass market players are aiming to take up distinctive methods to expand their market by widening service portfolio. Meninx Automotive Systems, Saint-Gobain S.A., Asahi Glass Co.Ltd., Xinyi Glass Holdings Ltd., Central Glass Co.Ltd., Glas Trosch Holding Ag are few of the key participants in the market. Players are aiming to merge with makers to develop flat-glass assembly line. Key participants area relying on increasing on-line platform to take care of the extent of competition throughout to spice up their revenue system.
For instance, Saint Gobain SA acquired 50% stake in JJG Group for flat glass production line, with a capacity of 160,000 tons. This strategy will strengthen the flat glass supplies for Sekurit production centres.
Asahi Glass Co. Ltd. launched a new float glass plant in Taloja, to produce glass for the automotive and construction sectors, with 550 tons per d. capacity.
Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
4. Key Success Factors
5. Global Automotive Glass Market Demand Analysis 2015-2019 and Opportunity Assessment, 2020-2030
5.1. Historical Market Volume (Mn Units) Analysis, 2015-2019
5.2. Current and Future Market Volume (Mn Units) Projections, 2020-2030
5.3. Y-o-Y Growth Trend Analysis
6. Global Automotive Glass Market - Pricing Analysis
6.1. Regional Pricing Analysis By Application
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More on the Report
This report presents associate degree analysis on the idea of segments together with glass sort (laminated, tempered etc.) application (windshield, back glass, door glass etc.) vehicle (passenger cars, buses, coaches, trucks, trailers) and region (North America, East Asia, Europe, geographic region etc.)
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About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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SOURCE: Future Market Insights