PUBLISHER: The Business Research Company | PRODUCT CODE: 1392500
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392500
“Automotive Windshield Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive windshield market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive windshield? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The automotive windshield market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Automotive windshields are transparent screens composed of laminated safety glass, featuring a layer of plastic sandwiched between two glass layers. These windshields serve the crucial purpose of shielding vehicle occupants and interiors from various environmental elements encountered on the road, including dust, rain, insects, wind, and other external factors.
In the automotive windshield market, the main types of glass are laminated glass and tempered glass. Laminated glass consists of a thin vinyl layer between two glass layers, providing enhanced durability and resistance to breakage, making it a common choice for vehicle windshields. The materials used in windshields include thermoset and thermoplastic materials, with applications spanning different windshield positions such as front and rear windshields. These windshields are incorporated in various vehicle types, including passenger cars, light commercial vehicles (LCV), and heavy commercial vehicles (HCV).
The automotive windshield market research report is one of a series of new reports from The Business Research Company that provides automotive windshield market statistics, including automotive windshield industry global market size, regional shares, competitors with an automotive windshield market share, detailed automotive windshield market segments, market trends and opportunities, and any further data you may need to thrive in the automotive windshield industry. This automotive windshield market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive windshield market size has grown strongly in recent years. It will grow from $19. 69 billion in 2023 to $21. 36 billion in 2024 at a compound annual growth rate (CAGR) of 8. 5%. The growth observed in the historical period can be attributed to several factors. These include the implementation of safety regulations, a surge in vehicle production, an increased emphasis on vehicle safety, consumer demand for enhanced comfort features, and growing considerations for environmental factors. These elements collectively contributed to the expansion and development of the automotive windshield market during the specified historic period.
The automotive windshield market size is expected to see strong growth in the next few years. It will grow to $29. 46 billion in 2028 at a compound annual growth rate (CAGR) of 8. 4%. The anticipated growth in the forecast period can be attributed to various factors. These include the ongoing trend of urbanization, the increasing adoption of advanced driver assistance systems (ADAS), the development of autonomous vehicles, the enforcement of stricter safety standards, the incorporation of connectivity features in windshields, and the use of sustainable materials in manufacturing. Significant trends expected in the forecast period encompass the integration of head-up displays, the introduction of augmented reality windshields, the application of self-healing coatings, the implementation of dynamic tinting technologies, the adoption of Gorilla Glass for enhanced durability, and the use of advanced sensors for environmental monitoring. These trends are poised to significantly impact and shape the trajectory of the automotive windshield market in the forecast period.
The expansion of the automotive industry is poised to drive the growth of the automotive windshield market. In this vast sector, encompassing the creation, production, and sale of motor vehicles, windshields serve as critical components, shielding both the interior and occupants from external elements like dust, rain, and wind. They also contribute significantly to the structural integrity of vehicles. With global vehicle sales climbing from 7. 8 million units in 2020 to 8. 2 million units in 2021, this surge in the automotive industry directly fuels the demand for automotive windshields.
The surge in demand for electric vehicles (EVs) is anticipated to boost the automotive windshield market. EVs, powered by electricity instead of traditional combustion engines, rely on advanced technology that necessitates protection from external elements, making windshields pivotal. With a remarkable rise in battery-powered electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) sales globally-4. 3 million units in the first half of 2022, marking a 75% increase in BEV sales and a 37% rise in PHEV sales compared to the previous year-windshields gain prominence. India's retail sales of EVs further support this trend, reaching 390,399 units in the first half of 2022, marking an outstanding 333% year-over-year growth. This escalating demand for electric vehicles directly influences the growth trajectory of the automotive windshield market.
Technological advancements are shaping the automotive windshield market, driving innovation to maintain competitive positions. Notably, the collaboration between Karma Automotive and WayRay in December 2021 signifies this trend. Their joint effort introduced an innovative windscreen, leveraging WayRay's True Augmented Reality (True AR) and Deep Reality Display technology. This unique system enables the creation of virtual images across various distances and depth planes by employing a picture-generating unit (PGU) that projects RGB laser beams onto a holographic optical element (HOE) embedded within transparent materials, such as a car's glass. Such technological strides are defining a new era for automotive windshields, advancing both safety and user experience.
Major players in the automotive windshield market are strategically collaborating to enhance their product offerings. These partnerships involve leveraging each other's strengths and resources for mutual benefits. For example, in January 2023, BMW, a prominent German luxury vehicle and motorcycle manufacturer, joined forces with Gauzy, a US-based expert in material science and nanotechnology, to unveil the iVISION Dee. This innovative concept car showcases the potential of smart glass in automobiles, providing features like shade, privacy, and transparent displays. Gauzy contributed a comprehensive system solution comprising smart glass and control elements to BMW's iVISION Dee, enabling advanced functionalities in the vehicle.
In October 2021, Saint Gobain Sekurit, a German automotive windshield manufacturer, established a partnership with Hopium, an undisclosed collaboration aimed at developing high-end hydrogen-powered vehicles. Through this alliance, both companies are focused on advancing green mobility by leveraging Hopium's expertise in manufacturing hydrogen fuel cells and automotive engines. This strategic collaboration aligns with their mutual goal of innovating and promoting environmentally friendly mobility solutions in the automotive industry.
Major companies operating in the in the automotive windshield market report are Compagnie de Saint-Gobain SA, AGC Inc., Fuyao Glass Industry Group Co. Ltd., Nippon Sheet Glass Co. Ltd., Guardian Industries Corp., Central Glass Co. Ltd., Sisecam Group, Shenzhen Benson Automobile Glass Co. Ltd., Xinyi Glass Holdings Limited, Vitro SAB de CV, Safelite Group Inc., PPG Industries Inc., Olimpia Oto Camlari AS, GIS GmbH, T&S Auto Glass Inc., Shatterprufe Pty Ltd., Glaston Corporation, Asahi Glass Co. Ltd., Compagnie de Saint-Gobain Sekurit, Pilkington Brothers Limited, Magna International Inc., Webasto SE, AGC Glass Europe SA, Fokker Technologies BV, Carlex Glass America LLC, Dura Automotive Systems LLC, LKQ Corporation, China Glass Holdings Limited, Samvardhana Motherson International Limited, Saudi Basic Industries Corporation
Asia-Pacific was the largest region in the automotive windshield market in 2023. The regions covered in the automotive windshield market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the automotive windshield market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The automotive windshield market consists of sales of OEM glass, dealer glass and aftermarket glass. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.