Automotive Glass Market to be Worth $28.3 Billion by 2031

Meticulous Research®—a leading global market research company, has published a research report titled, ‘Automotive Glass Market by Glass Type (Laminated Glass, Tempered Glass), Vehicle Type (Passenger Cars, Light Commercial Vehicles, Electric Vehicles), Sales Channel, Application (Sidelight, Windshield, Sunroof), and Geography—Forecast to 2031’

According to this latest publication from Meticulous Research®, the global automotive glass market is projected to reach $28.3 billion by 2031, growing at a CAGR of 8.9% during the forecast period. The growth of the automotive glass market is driven by the increasing demand for electric and hybrid vehicles, the rise in vehicle sales, and the higher penetration of sunroofs in passenger cars. However, the market's growth is restrained by the high initial and set-up costs of automotive glass plants and fluctuations in raw material prices.

Moreover, the increasing use of smart glass in the automotive industry presents significant growth opportunities, while safety concerns regarding laminated glass pose challenges to the market.

For a comprehensive understanding and further details, you can download the sample report here: https://www.meticulousresearch.com/product/automotive-glass-market-5761

Market Segmentation and Insights:

1. By Glass Type:

• Laminated Glass: Expected to account for the largest share in 2024 due to consumer preferences for safety and its extensive use in windshields and side windows. This segment is also projected to register the highest CAGR during the forecast period.
• Tempered Glass
• Other Glass Types

2. By Vehicle Type:

• Passenger Cars: Expected to dominate the market in 2024 due to increasing sales driven by rising disposable incomes and changing consumer trends.
• Electric Vehicles (EVs): Projected to register the highest CAGR, driven by supportive government policies, increasing investments, and rising environmental concerns.
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Other Vehicle Types

3. By Sales Channel:

• OEMs (Original Equipment Manufacturers): Expected to hold the larger market share in 2024, due to the demand for safety, quality, and advanced technologies in automotive glass.
• Aftermarket

4. By Application:

• Windshield: Expected to account for the largest share in 2024 due to the demand for safety and advanced features like sound insulation and UV protection.
• Sunroof: Projected to have the highest CAGR, driven by the increasing penetration in passenger cars and advancements in automotive technology.
• Sidelight
• Rear Window
• Taillight
• Other Applications

5. By Geography:

• Asia-Pacific: Expected to hold the largest market share in 2024, driven by increasing vehicle production, rising demand for EVs, consumer preference for SUVs in China and India, and government focus on vehicle safety. This region is also projected to register the highest CAGR during the forecast period.
• North America
• Europe
• Latin America
• Middle East & Africa

Key Players:

The key players in the global automotive glass market include:

AGC Inc. (Japan), Nippon Sheet Glass Co., Ltd. (Japan), Fuyao Glass Industry Group Co., Ltd. (China), Xinyi Glass Holdings Limited. (Hong Kong), Saint-Gobain (France), Webasto Group (Germany), Magna International Inc. (Canada), Corning Incorporated (U.S.), Guardian Industries (U.S.), Gentex Corporation (U.S.), TAIWAN GLASS IND. CORP. (Taiwan), Central Glass Co., Ltd. (Japan), Motherson Group (India), Schott AG (Germany), Vitro (Mexico), Sisecam Otomotiv A.S. (Turkey)

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Key Questions Addressed in the Report:

• Which are the high-growth market segments in terms of glass type, vehicle type, sales channel, application, and geography?
• What is the historical market for automotive glass?
• What are the market forecasts and estimates for the period 2024–2031?
• What are the major drivers, restraints, and opportunities in the global automotive glass market?
• Who are the major players in the global automotive glass market, and what are their market shares?
• What is the competitive landscape like?
• What are the recent developments in the global automotive glass market?
• How do major players adopt different strategies in this market?
• What are the geographic trends and high-growth regions in the market?
• Who are the emerging players in the global automotive glass market, and how do they compete with the other players?

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I am Deeya. I write articles on Market research trends.