Latest News- Automotive Glass Market: Passenger cars is expected to lead the Application segment during 2024-2028

The Automotive Glass Market is being driven by Increased demand for premium vehicles and sunroofs

The Automotive Glass Market is expected to grow at a CAGR of 3.38% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3.9 billion. In the automotive industry, solar reflective glass is gaining traction as a preferred option over conventional glass due to its numerous benefits. This advanced glass technology absorbs infrared rays, effectively reducing the amount of heat that enters vehicles, thereby enhancing passenger comfort. Furthermore, it minimizes the impact of ultraviolet radiation on interior trims, preserving their appearance. From an aesthetic perspective, solar reflective glass contributes to vehicle styling, catering to consumer preferences. Notable manufacturers, such as Pilkington, a subsidiary of Nippon Sheet Glass, produce optimized solar-absorbing glass products like Optikool and EZ-KOOL. These innovative glass solutions offer a 20% reduction in solar energy entering the vehicle cabin compared to standard tinted glass, ensuring a consistently soothing temperature inside. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Passenger cars
  • Light commercial vehicle
  • Medium and heavy commercial vehicle
• Type
  • Laminated glass
  • Tempered glass
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increased demand for premium vehicles and sunroofs
• Growing investment in glass manufacturing due to stable raw materials prices
• Growing demand for passenger safety and comfort

However, the market also witnesses some limitations, which are as follows:

• high cost of manufacturing automotive glass
• Regulatory barriers to the use of automotive glass
• Gradual increase in annual wages leading to a decline in profit margins

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Market Scope in Automotive Glass Market Research Report

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Research Analysis Overview

The Automotive Glass Market encompasses various types of glass for automobiles, including safety glass for passenger vehicles and commercial vehicles, smart glass for luxury cars and SUVs, and lightweight options like laminated side and rear windows. Companies like ITC Glass produce these glasses using raw materials for improved weight reduction, driver comfort, safety, and occupant crash protection. Transparency and strength are crucial factors, with shatterproof laminated and tempered glass used for side and rear windows, ensuring safety features against windshield force/damage. Passenger cars, passenger vehicles, and automobiles all benefit from these advanced glass technologies. Safety features, such as side impact protection and rollover safety, are prioritized, with Bentley Arnage being an example of a luxury car utilizing these advanced glass solutions.

Market Research Overview

The automotive glass market is a significant segment of the global automotive parts and equipment industry, encompassing manufacturers of windshields, side glass, smart glass, safety glass, and lightweight glass for various vehicle types, including SUVs, luxury cars, and passenger cars. Key players in this market include ITC Glass, Pilkington Glass, Saint-Gobain, Fuyao Glass, Asahi Glass, Magna, and Webasto. The market's growth is driven by the increasing demand for electronic components in automobiles, particularly in the rising sales of electric vehicles, motorcycles, and passenger cars, which has significantly boosted the need for electronic control units (ECUs) and other electrical components. Additionally, the market is witnessing a trend towards the integration of advanced technologies such as smart glass and safety glass to enhance vehicle safety and comfort. Notable vehicle models utilizing these advanced glass technologies include the Bentley Arnage, Buick Enclave, Cadillac ATS, Chevrolet Equinox, Dodge Ram, and others. Overall, the global automotive components and equipment market, which includes the automotive glass market, is projected to grow steadily due to these and other market drivers.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/