New York, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Automotive Windshield Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Automotive Windshield Market Research Report, Technology, End Market, Application, Vehicle type and Region - Forecast till 2027” the market size worth USD 28.41 billion by 2027, registering a CAGR of 7.45% during the forecast period (2021 - 2027), The market was valued at USD 17.18 billion in 2020.
COVID-19 Analysis
Several industries have been impacted by the COVID-19 crisis and the global automotive windshield market too is one of them. It has also faced the brunt of this deadly outbreak. Economic consequences, disruptions in supply chain, volatility in demand share, and long-term & immediate impact of the COVID-19 crisis had a negative effect on the market growth. But with the relaxation of lockdowns, the market is likely to get back into normalcy in the days to come.
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Key Players
Eminent players profiled in the global automotive windshield market report include –
- Asahi Glass (Japan)
- Saint-Gobain (France)
- Xinyi Glass (China)
- Fuyao Glass Industry (China)
- Nippon Sheet Glass (Japan)
- Vitro (Mexico)
- Dura Automotive (U.S.)
- Sisecam Group (Turkey)
- Magna International (Canada)
- Guardian Industries (U.S.)
- PPG Industries (U.S.)
- Shenzhen Benson Automobile (China).
The automotive windshield market is fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers , including collaborations, contracts, partnerships, joint ventures, geographic expansions, & new product launches, and more.
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Drivers
Technological Advancements such as Smart Displays and ADAS to Boost Market Growth
Technological advances such as smart displays & driver assistance functions such as ADAS will boost market growth as they are being incorporated in economy and mid-segment vehicles for the increased awareness about vehicle and road safety. With technological advances permeating the automotive space, the advanced driver assistance systems (ADAS) is gaining traction across the globe. This technology is today being integrated into car windshields for facilitating driver assistance and safety. Besides, technology giants are laying emphasis to develop augmented reality in the automotive windshields for cars through the use of the internet of things. Through augmented reality in automotive windshields, passengers and drivers can conduct calls with passengers on a real-time basis in different cars. All these are adding to the global automotive windshield market share.
Additional factors that are adding market growth include growing economy coupled with improving demographics that are boosting the demand for cars, focus towards vehicle weight reduction, and improved fuel efficiency, and demand for laminated side glazing.
Opportunities
Growing Adoption of Solar Reflective Windshields to Offer Robust Opportunities
The growing adoption of solar reflective windshields will offer robust opportunities for the market in the forecast period. Solar reflective windshields are highly preferred for its alluring features such as it helps in reducing air-condition load and fuel consumption, reduce skin irritation against direct sunlight, reduce cool-down time, prevent the building-up of interior temperatures, and reduce the solar energy in entering the car.
Restraints
High Replacement Cost of Smart Windshields to act as Market Restrain
The high price to replace smart windshields particularly in high-end vehicles will act as a market restraint over the forecast period.
Challenges
Poor Quality to act as Market Challenge
The availability of poor quality automotive windshield may act as a market challenge over the forecast period. Besides, the availability of alternatives such as polycarbonate glazing may also impede market growth.
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Market Segmentation
By position, the front placement segment will lead the market over the forecast period.
By glass type, the laminated glass segment will dominate the market over the forecast period for the increased use of laminated glass to offer protection against harmful UV rays. Several automotive glass manufacturers are also offering customized windshields to vehicles manufacturers. They are offering standardized side glazing in top selling models to offer enhanced safety to passengers in case the car rolls over in an accident.
By vehicle type, the passenger cars segment will spearhead the market over the forecast period for changing consumer trends, growing middle-class population, and increasing environmental concerns about low-emission and lightweight cars on the roads.
By end market, the OEM segment will have the lions share in the market over the forecast period.
Regional Analysis
APAC to Precede Automotive Windshield Market
The Asia Pacific region will precede the automotive windshield market over the forecast period. The presence of populous countries like India and China, the growing sales of passenger cars, rising use of glass on vehicles, growing popularity of vehicle sunroof and technological advances, increasing automobile production and sales, increasing use of solar reflective glasses in cars, the use of safety glasses like tempered and laminated glass, rising number of commercial vehicles production, and the growing use of premium segment cars are adding to the global automotive windshield market growth in the region. Besides, the growing awareness in people regarding protection from UV rays, the growing use of windshield for display purposes, and the presence of several key players, the increasing transportation activities are also adding market growth.
Segmentation of Market covered in the research:
Information by Position (Front and Rear), By Glass Type (Tempered and Laminated), by Vehicle Type (Passenger Cars and Light Commercial Vehicles and Heavy Commercial Vehicles), By End Market (OEMs and Aftermarket) and Region (North America, South America, Europe, Asia- Pacific, and Middle East & Africa)
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