PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485878
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485878
Automotive Glazing Market size was valued at USD 1,602.34 million in 2023, expanding at a CAGR of 9.7% from 2024 to 2032.
The Automotive glazing market refers to the industry involved in the development, production, and deployment of Automotive glazing systems. Automotive glazing systems are technologically advanced solutions that incorporate electronic controls, sensors, and actuators to enable Automotive operation of windows, sunroofs, skylights, and other glazing components in various applications. Rising primary safety from accidents and rising consumer preferences in the application of glass in passenger cars have created huge demand in the market for automotive glass. This is expected to fuel the integration of electronic sensors, cameras, and rearview mirrors into vehicle glass.
Automotive Glazing Market- Market Dynamics
Increasing awareness about sustainable growth to propel market demand
The lightweight property of polycarbonate glazing offers several advantages in the context of Automotive glazing systems. Firstly, it reduces the overall weight of the glazing components, which is particularly beneficial in applications where weight reduction is crucial, such as in automotive, aerospace, and marine industries. The lighter weight helps enhance fuel efficiency in vehicles and reduces energy consumption in other Automotive systems. Moreover, the lightweight nature of polycarbonate glazing enhances safety in certain applications. For instance, in October 2019, VE Commercial Vehicles Ltd announced an investment in its new 150-acre plant in Bhopal, Madhya Pradesh, India, in line with BS-VI norms. Companies plan to increase the production of commercial vehicles since larger vehicles prove to be profitable to manufacturers and dealers due to higher profit margins. In June 2019, GM announced a USD 150 million investment for boosting the production of heavy-duty pickup trucks at its Flint Assembly Plant in Michigan, U.S.
Automotive Glazing Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 9.7% over the forecast period (2024-2032)
Based on Vehicle segmentation, Light Commercial Vehicles was the leading type in 2023
Based on Technology segmentation, Sun Control Glazing was the leading type in 2023
Based on region, Asia Pacific was the leading revenue generator in 2023
The Global Automotive Glazing Market is segmented based on Glazing Type, Application, Vehicle, Technology and Region.
The market is divided into three categories based on vehicle: Passenger Vehicles, Light Commercial Vehicles, and Heavy Commercial Vehicles. The passenger cars segment accounted for the largest revenue share in 2023. This is attributed to factors such as changing consumer trends, the steadily growing middle-class population, and increasing environmental concerns leading to the demand for low-emission and lightweight vehicles on roads. Automotive manufacturers are compelled to increase their production to cater to the growing demand.
The market is divided into three categories based on application: Windscreen, Sidelight, and Bakelite. The rising preference for manufacturers to adopt superior glass technologies in their vehicles with enhanced UV resistance and heat resistance capabilities is further expanding the market size over the study time frame.
Automotive Glazing Market- Geographical Insights
Because of its high level of automobile production, Asia Pacific is predicted to increase at the fastest rate. The region's main markets are Thailand, China, and India, which are driven by several reasons such as strong vehicle production, cheap labor costs, low operating and shipping expenses, and land availability. Growth in North America is anticipated to be moderate, with LCV probably rising at the quickest rate. The area is the largest market for LCV manufacture, and it is anticipated that this trend will hold during the projection period, positively influencing market trends. For instance, Glaston Corp. and HEGLA have partnered in the Asia-Pacific region to meet the growing demand for glass machines for architectural and automotive glass applications.
Several key players such as AGC Inc., Fuyao Glass Industry Group Co., Ltd., Nippon Sheet Glass Co., Ltd., Saint-Gobain, and Xinyi Glass Holdings Limited, are driving innovation through substantial investments in research and development. These industry leaders are focused on advancing Automotive glazing technology with Sun Control Glazing, Hydrophobic Glazing and Switchable Glazing to enhance efficiency and reliability. Strategic partnerships and collaborations between automotive manufacturers, technology firms, and infrastructure developers are crucial for market expansion. Navigating regulatory frameworks and ensuring compliance with safety standards are essential considerations for market entry and growth. For instance, Saint-Gobain SA announced the acquisition of a 50% stake in China-based JJG Group for the flat glass production line, with an annual capacity of around 160,000 metric tons. The move will strengthen the flat glass supplies for Sekurit automotive glass production centers.
In January 2024, Bosch introduced an innovative fully Automotive car valet system designed for parking garages. This system efficiently transports vehicles to a charging station where a robot automatically connects to the car for charging purposes.
In September 2023, Hyundai Mobis developed a one-touch Automotive parking technology that allows drivers to park their vehicles with a single button touch. The technology is called Mobis Parking System (MPS) 1.0 Premium and features a Memory Parking Assist (MPA) system.
GLOBAL AUTOMOTIVE GLAZING MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
AGC Inc.
Fuyao Glass Industry Group Co., Ltd.
Nippon Sheet Glass Co., Ltd.
Saint-Gobain
Xinyi Glass Holdings Limited
Vitro
Central Glass Co., Ltd.
Corning Incorporated
Guardian Industries
TAIWAN GLASS IND. CORP.
Sisecam
Others