Pune, India, Aug. 11, 2022 (GLOBE NEWSWIRE) --
As per a recent industry report put forward by Graphical Research, the North America automotive glass market is forecast to register its name in the billion-dollar fraternity down the line of seven years, by exceeding a revenue of USD 1.8 billion by 2027.
The market growth is as several companies are introducing technological innovations in the component’s features to increase its efficiency and performance. Governments have issued strict guidelines with respect to the glass security, which is expected to drive the production of automotive glass.
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The trends positively influencing the market forecast are explained below:
Demand for laminated automotive glass gains traction:
Laminated automotive glass is set to hold nearly 60% share of North America market by 2027. Laminated glass offers a rich finish to vehicles and several OEMs are increasingly using side glazing while manufacturing automobiles. Laminated side glazing offers many benefits to vehicles, including resistance against scratches and impact. It is also highly durable and offers strong UV protection, thereby fostering their demand among end-users.
Use of automotive glass in passenger cars rises:
North America automotive glass market size from passenger cars will showcase 7% CAGR over 2021-2027. The demand for pick-up vans, three-wheelers, and trucks for transporting goods and raw materials from one place to the other is steadily growing.
Moreover, an increasing number of people are migrating from rural to urban areas in search of employment. It will augment the adoption of light commercial vehicles to transport household goods, thereby boosting the use of automotive glass in these vehicles.
Automotive glass finds robust application in windscreen production:
Windscreen applications held more than 40% share of North America automotive glass market in 2020. A major reason behind this is the high use of laminated and tempered glasses to produce windshields. However, windscreens with laminated glass are more expensive as compared to their counterparts, which will affect their demand. Many organizations are consistently introducing innovative technologies to enhance the driving experience of customers, thereby fueling the use of automotive glass to make high-quality windshields.
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OEMs will remain the major end-users of automotive glass:
North America automotive glass market size from OEMs is expected to register a steady CAGR of 4% up to 2027. The production of high-end automobiles is growing at a considerable rate in the region. Automotive glass is fitted into a wide range of affordable and luxury vehicles during their production and the component is also supplied to many garages for replacement.
Customers are becoming highly concerned about their safety and are opting for vehicles that offer them the highest security while driving. Many automotive glass manufacturers are offering long-term warranty and insurance of their products, which will positively contribute to its demand among end-users.
Reputed companies across North America, such as Central Glass America Inc., LKQ Corporation, Saint-Gobain, Asahi Glass, Guardian Glass, Gentex Corporation, and Webasto, among several others are manufacturing high-quality laminated and tempered automotive glasses with the help of smart technologies.
The component will be extensively used in passenger and light & heavy commercial vehicles, with OEMs and Maintenance, Repair and Overhaul (MRO) service providers being the main end-users of the product. Automotive glass will find high application in the production of backlights, sidelights, and windscreens of affordable and premium vehicles. With the demand for automobiles that adhere to high safety standards growing among consumers, the high-quality automotive glass will be used by manufacturers on a large scale.
Browse Related Report:
Asia Pacific Automotive Glass Market Forecast 2027 By Application (Sidelite, Backlite, Windscreen), By Product (Laminated, Tempered), By End-use (OEM, Aftermarket), By Vehicle (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
https://www.graphicalresearch.com/industry-insights/1976/asia-pacific-automotive-glass-market
About Graphical Research:
‘Graphical Research’ provides a large collection of market research and industry analysis reports covering healthcare, automotive, oil and gas, pharmaceutical, IT, agriculture, chemicals, and many other sectors, across diverse regions like North America, Europe, Asia Pacific, Latin America, and others. The comprehensive reports we provide are aligned with the key industry trends and insights in specific regional markets. The data we deliver helps our customers make better strategic decisions. Our goal is to offer competitive and quality customized market research reports.
