Global Automotive Glass Market Size & Share to Surpass USD 31.2 Bn by 2028 | Vantage Market Research

| Source: Vantage Market Research Vantage Market Research

WASHINGTON, Oct. 19, 2022 (GLOBE NEWSWIRE) -- The Global Automotive Glass Market was valued at USD 23.2 Billion in 2021 and is projected to attain a market value of USD 31.2 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 5.1% during the forecast period, 2022–2028.

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What is Automotive Glass? How Big is Automotive Glass Market Size?  

Vantage Market Research has released a new analysis of the Automotive Glass Market, provided an overview of the sector, and highlighted key trends. The report notes that the Automotive Glass Market industry is worth around USD 23.2 Billion as of 2021, with around 60% of that figure coming from original equipment manufacturers (OEMs). The aftermarket accounts for the remaining 40%.

OEMs are increasingly turning to laminated glass for vehicles, which offers better safety and acoustic properties than traditional tempered glass. However, this trend is offset by the fact that many consumers are opting for cheaper aftermarket options when replacing their car windows. One key challenge facing the Automotive Glass Market industry is the rise of electric vehicles. Electric vehicles have much smaller windows than traditional petrol or diesel cars, which could lead to a decline in demand for Automotive Glass Market.

The report found that the glass industry is currently in a state of transition, with traditional manufacturers struggling to keep up with the pace of change. In particular, the rise of electric vehicles presents a significant challenge, as traditional windshields are not designed to work with electric batteries. Furthermore, the report found that the Automotive Glass Market is consolidating, with a handful of large players accounting for an increasingly large share of the market. This consolidation is likely to continue in the future, as smaller manufacturers struggle to compete.

Overall, Vantage Market Research’s analysis paints a mixed picture of the future of the Automotive Glass Market. While there are challenges ahead, there are also opportunities for those companies that are willing to embrace change.

Top Players in Global Automotive Glass Market

  • Dura Automotive Systems
  • Saint-Gobain S.A.
  • Asahi Glass Co. Ltd.
  • Fuyao Glass Industry Group Co. Ltd.
  • Nippon Sheet Glass Co. Ltd.
  • Xinyi Glass Holding Ltd.
  • Central Glass Co. Ltd.
  • Glas Trosch Holding AG
  • Gentex Corporation
  • Magna International Inc.
  • Vitro S.A.B de C.V.
  • Guardian Industries Corporation

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Autonomous Vehicle and Ride Sharing to Pose Challenge for Automotive Glass Market Growth

The trend towards autonomous vehicles is likely to have a major impact on the market, as these vehicles will require different types of sensors and windows. This could create opportunities for companies that are able to provide innovative solutions.

The rise of ride-sharing services is another factor that is set to change the landscape of the Automotive Glass Market. As fewer people own cars, there will be less demand for replacement windows and windshields. This could lead to consolidation in the industry, as smaller players struggle to compete.

However, windshields are expected to remain the largest segment of the market throughout the forecast period due to their importance in protecting occupants from external elements such as weather conditions and debris. In terms of vehicle type, passenger cars are expected to continue to dominate the market due to their high production volumes relative to commercial vehicles.

Key Insights and Findings from the In-depth Report:

  • Among Glass Type segment, the Tempered Glass segment is anticipated to dominate the Automotive Glass Market. This is due to the factors such as high strength, robustness, and low cost.
  • The Moon/Sun Roof segment, of the Application segment, accounted for the largest market share. It supplies more control to the user for managing natural light in the vehicle. This segment will likely prosper owing to the integration of sunroofs in affordable cars.
  • Asia Pacific held the Automotive Glass Market share and is anticipated to be the most lucrative market during the forecast period. This surge is because of several Automotive Glass manufacturers and mounting automotive production in this region.

Top 10 Players Generates Over 60% Revenue of Automotive Glass Market

The Automotive Glass Market is evolving rapidly with the advent of new technology and the increasing focus on safety. Vantage’s analysis shows that the top 10 players in the auto glass industry account for over 60% of the market share. The company's research indicates that these players have a deep understanding of customer needs and product development, which has allowed them to maintain their dominant position in the market.

Our study also notes that the top companies in Global Automotive Glass Market have a keen focus on cost management, which has helped them to remain profitable despite volatile raw material prices. Additionally, these companies have been able to capitalize on growth opportunities in emerging markets and have been successful in acquiring smaller competitors.

Saint-Gobain has a market share of over15%. The company has a diversified product portfolio and offers solutions for original equipment manufacturers (OEMs) as well as aftermarket customers. It also has a strong geographical presence with operations in more than 60 countries across the Global Automotive Glass Market.

In a new analysis, KPMG LLP finds that Saint-Gobain's Automotive Glass Market business is a key source of future growth for the company. The global consulting firm has taken a close look at Saint-Gobain's strengths in the Automotive Glass Market industry and how it can capitalize on emerging trends. Our evaluation reveals that the company has significant opportunities to grow its Automotive Glass Market Division (AGD) through continued innovation and expansion into new markets. In particular, our analysis reveals that Saint-Gobain is majorly focusing on the following three areas:

  • Enhancing its position in the European Automotive Glass Market
  • eveloping its presence in high-growth markets such as China and India
  • Investing in next-generation technologies such as electric vehicles (EVs) and autonomous vehicles (AVs)

In Europe, Vantage sees potential for AGD to grow through both organic means and acquisitions. The company should look to expand its product offerings and geographic footprint in the region. Additionally, KPMG believes there are attractive acquisition targets available that would complement AGD's existing business.

In China and India, the company is currently focusing on expanding its distribution network and investing in marketing initiatives to build awareness of its brand. These efforts will be critical to capturing market share in these high-growth markets.

Asahi Glass Company (AGC) is another leading player in the Global Automotive Glass Market with a market share of 8%. The company manufactures flat glass for construction, automotive, solar power generation, electronics, and display applications. It also provides services such as replacement and repair of Automotive Glass Market products.

New players such as Fuyao Group and Sichuan Chengtou Holding are challenging the established players in the Automotive Glass Market with their innovative products and competitive pricing strategies. Fuyao Group is one of the largest manufacturers of Automotive Glass Market in China.

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Scope of the Report:

Report AttributesDetails
Market Size in 2021USD 23.2 Billion
Revenue Forecast by 2028   USD 31.2 Billion
CAGR5.1% from 2022 to 2028
Base Year2021 
Forecast Year2022 to 2028
Key Players• Dura Automotive Systems

• Saint-Gobain S.A.

• Asahi Glass Co. Ltd.

• Fuyao Glass Industry Group Co. Ltd.

• Nippon Sheet Glass Co. Ltd.

• Xinyi Glass Holding Ltd.

• Central Glass Co. Ltd.

• Glas Trosch Holding AG

• Gentex Corporation

• Magna International Inc.

• Vitro S.A.B de C.V.

• Guardian Industries Corporation

Aftersales Market is Offering Lucrative Opportunity

According to Vantage Market Research's latest analysis, demand for Automotive Glass Market is increasing in aftersales. This is due to the growing need for the replacement and repair of windshields and other vehicle glass.

The rise in demand for Automotive Glass Market is being driven by a number of factors, including the increasing popularity of SUVs, which generally have larger windshields than sedans. In addition, the average age of vehicles on the road is rising, which means that there are older vehicles with worn or damaged glass that needs to be replaced.

Our analysis also notes that the cost of replacement glass has been decreasing over time, thanks to advances in manufacturing technology. This has made it more affordable for consumers to have their vehicle glass replaced when necessary. As the demand for Automotive Glass Market continues to increase, we expect that the industry will continue to grow at a healthy pace.

The report on the Global Automotive Glass Market cites several factors that are driving this trend, including the increasing popularity of SUVs and CUVs, which often have larger windshields and more complex glass features than traditional sedans; the rising incidence of hailstorms and other severe weather events that can damage vehicle glass; and the growing number of drivers who are opting for premium, factory-installed tinted or privacy glass. Our study predicts that the demand for replacement Automotive Glass Market will continue to grow in the coming years, especially in regions where severe weather is more common.

The report on Automotive Glass Market highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates and Forecast
  • Company Profiles
  • Global and Regional Dynamics

Browse market data Tables and Figures spread through 156 Pages and in-depth TOC on Automotive Glass Market Forecast Report (2022-2028).

Some of The Key Questions from Our Customers Are:

  • Which are the top companies in the market?
  • How will the market change in the next years?
  • What are the drivers and restraints of the market?
  • Which regional market will show the highest growth?
  • What will be the CAGR and size of the market throughout the forecast period?
  • Which area offers the most significant benefit for the world market?
  • What are the threats to business and the impact of the current scenario on growth and market perception?
  • What are the likely advanced scenarios and maximum incentive to see movement by application, type, and region?

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