Automotive Glass Market Share, Size, Growth & Industry Statistics Report, 2023-2030
GMI Research analysis indicates that the Automotive Glass Market size was estimated at USD 24.7 billion in 2022 and is slated to register a single digit CAGR of 5.1% over the forecast period, and is projected to reach USD 36.8 billion in 2030.
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Major Automotive Glass Market Drivers
The global automotive glass market is predicted to propel due to the rise in the buying power of customers, significant growth in the logistics and transportation sector, progressive technological developments in automotive glass production, and growing penetration of luxurious automobiles with advanced glass technology. The automotive industry is observing an increasing emphasis on lightweight cars due to the growing harmful emissions from vehicles, which have different effects on the environment. The International Organization of Motor Vehicle Manufacturers stated that a global automobile production of 85.02 million vehicles in 2022. This robust production volume is introduced to the growth of the automotive manufacturing sector, in countries including India and China. The increase is propelled by government initiatives addressing motor vehicle regulations in these regions.
The advancement in the production of hybrid and electric vehicles is fostered by an increased aim on pollution control and stringent environmental regulations, contributing to the automotive glass market size. As both customers and producers strive to comply with government regulations, there is a growing preference for environmentally friendly automobiles, specifically placing value on electric and hybrid vehicles, propelling the market forward. Continuous technological advancements in the automotive sector, coupled with continuous upgrades in vehicle designs, are encouraging market players to introduce developed products personalized for automotive producers. For instance, during 2018-2019, AIS Glass across India delivered its products for different new car models, incorporating innovative features such as Toyota Yaris, 2.8mm backlite for the brand-new Wagon R, and solar green glass and acoustic PVB. Smart glass choices are witnessing rapid growth in the manufacture of sun and moon roofs, aligning with shifts in customer preferences and the strategies of car manufacturing organizations, specifically in Europe. For instance, in 2021, GM successfully launched its new electric car, Cadillac Celestiq, featuring a smart glass roof. The continuous advancement of developed advanced driver assistance systems in new automobiles is also predicted to support the automotive glass market growth.
Although, when purchasing a vehicle, individuals prioritize confirming that the automotive is equipped with high-performance automotive glass. The usage of automotive glass has substantially improved safety on all fronts, an important consideration in the manufacturing of side windows, rear car glass, and windshields. Additionally, the significant growth in advancement concerning the safety of customers in automotive technology is supposed to drive the global automotive glass market growth. For instance, different windscreens are now crafted from Gorilla Glass, a specialized type of windscreen incorporating precise and specialized chemicals. This material surpasses conventional windscreens in durability, with the ability to withstand sharp and blunt stone hits. It also boasts scratch resistance and supports to mitigate common windscreen fractures.
Meanwhile, laminated glass comes with a significantly higher cost compared to tempered glass, limiting its adoption, specifically in emerging nations. In addition, substantial capital investment is necessary for the research and development as well as the production of thin and advanced laminated glass for windows. This financial commitment, along with the aim of minimizing production costs and lessening the financial burden on customers, is predicted to restrain the automotive glass market growth.
Whereas, the stabilization of material prices, including lime, magnesium oxides, aluminum, potassium, and soda ash, alongside the increase in fuel prices, has driven the growth of cost-effective glass for automotive. The increasing need for vehicles in the transportation and logistics segment, combined with a commitment to developing vehicle aerodynamics to comply with safety regulations, is driving the global automotive glass market share. Moreover, growth is also driven by the increased sales of crossovers and SUVs, along with a considerable growth in disposable income, specifically in emerging nations.
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By Product, Tempered Glass Segment Registered the Largest Market Share in Global Automotive Glass Market
The tempered glass segment accounted for the market growth because it has competitive rates, robustness, and high strength. Tempered glass exhibits strength 4-5 times higher than basic float glass and is more economical based on cost compared to laminated automotive glass. Subsequently, it stands as the most favored glass type in the automotive sector, specifically for backlites and windows.
By Product, Laminated Glass Segment is Predicted to Grow Faster in the Forecast Period
The laminated glass segment is predicted to exhibit the fastest CAGR in the forecast period. This type of glass structure entails a Polyvinyl Butyral layer sandwiched between two glass layers. Laminated glass is primarily used in windscreens because of its safety features, confirming it remains intact even after accidents, thereby safeguarding potential harm or injuries to the passengers of a vehicle. Additionally, it is favored for sunroofs, contributing to the growth of this segment. Companies such as Ferrari, Tesla, and Volvo incorporate laminated glass in all their automotives equipped with panoramic sunroofs.
By Vehicle, Passenger Cars Segment Dominated the Largest Market Size in the Global Market
The passenger car segment registered the largest market share because of fluctuations in customer trends, an increase in demand for electric vehicles, consistent growth of the middle-class population, and increased environmental awareness. In addition, with the significant rise in investment by government authorities in passenger cars the passenger car segment market is predicted to grow more significantly in the forecast period.
By Vehicle, Commercial Vehicles Segment is Predicted to Rise at the Fastest Rate in the Forecast Period
The commercial vehicle segment exhibits steady growth due to considerable growth in construction and transportation activities. The producers in the automotive industry are required to increase their production of new automobiles to fulfill the rising need. In 2019, VE Commercial Vehicles Ltd announced its investment plans for a new 150-acre plant across Bhopal, MP, India, aligning with BS-VI patterns. This move reflects the industry is inclined to raise the production of commercial vehicles, especially large ones, as they prove to be more profitable for producers and dealers, offering higher profit margins.
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By Region, Asia Pacific Region Registered for the Largest CAGR of the Global Automotive Glass Market
Asia Pacific Region dominated the growth because the region has high per capita income and economic growth, coupled with a considerable rise in the need for commercial vehicles around the region. In addition, growth in investment in research and development activities by giant market players is driving the Asia Pacific automotive glass market. Additionally, the market around the region is predicted to rise due to emerging nations and the robust existence of producers in countries such as India, China, and Japan. The region’s rapid regulatory changes to develop transportation technology, coupled with its continually growing population, will introduce substantial opportunities in the automotive glass market.
China is the world’s largest manufacturer of automobiles, and the region benefits from ample resources for assembling and producing automotive parts, specifically in China, and India. The existence of well-established glass manufacturing players, extending research and development capacities, and the establishment of different new production plants across China to meet the growing need for electric cars collectively contribute to the growth of the automotive glass market globally. Moreover, Asia Pacific region has been observing a significant rise in demand for luxurious automobiles due to changes in the lifestyles of consumers and considerable growth in disposable income. This has resulted in an increase in the production of automobiles with the assistance of sunroofs, thereby presenting a positive impact on the global market growth.
Top Market Players
Various notable players operating in the market include 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 among others.
Key Developments:
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- In 2022, Saint-Gobain acquired Kaycan to expand its manufacturing footprint and strengthen its customer base in North America.
- In 2022, NSG Group joined hands with SYP Kangqiao Autoglass Co., Ltd. to reinforce the capacity to fulfill all the rising requirements of vehicle producers around China.
- In 2022, One Equity Partners announced an acquisition of PGW Auto Glass to significantly ensure the continuity of providing services to customers, employees, and suppliers, coupled with investment in exciting development areas.
- In 2022, Corning Incorporated announced an ongoing collaboration with LG Electronics to deliver environmentally friendly glass solutions for curved and innovative automotive interior displays.
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- In 2019, AGC Inc. established a new production plant in China for the production of 3D/complex-shaped cover glass for car mounted displays. This expansion has helped the company to meet the surplus demand from Asia-Pacific region.
Segments covered in the Report:
The Global Automotive Glass Market has been segmented on the basis of Product, Vehicle Type, Application and End-use. Based on the Product, the market is segmented into Tempered Glass, Laminated Glass, Others. Based on the Vehicle Type, the market is segmented into Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles. Based on the Application, the market is segmented into Windscreen, Backlite, Sidelite, Others. Based on the End-use, the market is segmented into Original Equipment Manufacturer (OEM), Aftermarket.
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|
Report Coverage |
Details |
| Market Revenues (2022) |
USD 24.7 billion |
| Market Base Year |
2022 |
| Market Forecast Period |
2023-2030 |
| Base Year & Forecast Units |
Revenues (USD Billion) |
| Market Segment | By Product, By Vehicle Type, By Application, By End-use, By Region |
| Regional Coverage | Asia Pacific, Europe, North America, and RoW |
| Companies Profiled | 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 among others; a total of 9 companies covered. |
| 25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Global Automotive Glass Market by Product
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- Tempered Glass
- Laminated Glass
- Others
Global Automotive Glass Market by Vehicle Type
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- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Global Automotive Glass Market by Application
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- Windscreen
- Backlite
- Sidelite
- Others
Global Automotive Glass Market by End-use
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- Original Equipment Manufacturer (OEM)
- Aftermarket
Global Automotive Glass Market by Region
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North America Automotive Glass Market (Option 1: As a part of the free 25% customization)
- By Product
- By Vehicle Type
- By Application
- By End-use
- US Market All-Up
- Canada Market All-Up
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Europe Automotive Glass Market (Option 2: As a part of the free 25% customization)
- By Product
- By Vehicle Type
- By Application
- By End-use
- UK Market All-Up
- Germany Market All-Up
- France Market All-Up
- Spain Market All-Up
- Rest of Europe Market All-Up
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Asia-Pacific Automotive Glass Market (Option 3: As a part of the free 25% customization)
- By Product
- By Vehicle Type
- By Application
- By End-use
- China Market All-Up
- India Market All-Up
- Japan Market All-Up
- Rest of APAC Market All-Up
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RoW Automotive Glass Market (Option 4: As a part of the free 25% customization)
- By Product
- By Vehicle Type
- By Application
- By End-use
- Brazil Market All-Up
- South Africa Market All-Up
- Saudi Arabia Market All-Up
- UAE Market All-Up
- Rest of world (remaining countries of the LAMEA region) Market All-Up
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Major Players Operating in the Automotive Glass (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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- 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
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