The automotive glass market is projected to grow at a CAGR of 5.46%, to reach a market size of USD 25.12 billion by 2021 according to a recent report from Reportbuyer.
The market is driven by factors such as the increasing usage of glass in vehicles, growing trend of laminated side glazing, security concerns, and demand for lightweight glass that increases the fuel efficiency of vehicles. Stringent glass safety regulations such as the Federal Motor Vehicle Safety Standards (FMVSS) for passenger vehicles in the U.S. and other regional regulations are also contributing to the growth of the automotive glass market.
Suspended particle device is the fastest growing smart glass technology market in the automotive sector
Suspended particle device (SPD) technology is expected to dominate the automotive smart glass market. Smart glass was initially used for windows and doors in automobiles, but extensive R&D into SPD technology has led to its increased adoption in rear mirrors, backlites, and sunroofs. In February 2012, Daimler AG (Germany) launched an all-glass panoramic roof using SPD technology on the Mercedes-Benz 2012 SLK. Approximately 96% of the OEMs that manufacture premium cars now offer glass sunroofs or glass panoramic roofs as either standard or optional equipment.
Sunroofs constitute the largest application segment of the automotive smart glass market
OEMs such as Mercedes-Benz AG (Germany), Audi AG (Germany), and BMW AG (Germany) offer sunroofs in their vehicle models. Smart glass is extensively used for sunroofs, as sunroofs with smart glass offer cost-saving benefits and provide superior control over light and heat emission, reducing the consumption of the air-conditioning unit by maintaining the car’s cabin temperature. This reduces the cooling and lighting costs of the vehicle tremendously.
Asia-Oceania: Fastest growing market for automotive glass
Asia-Oceania is estimated to dominate the automotive glass market, and is projected to grow at the highest CAGR during the forecast period. This growth can be credited to the improving socio-economic conditions in emerging economies such as China, India, Indonesia, and Thailand. The sizeable populations in countries such as China and India have resulted in increased vehicle parc, which has led to a growing demand for automotive glass. In China, Global OEMs such as Volkswagen AG (Germany) and General Motors (U.S.) cater to the automotive glass market through joint ventures with domestic manufacturers.
The report provides detailed profiles of the following companies:
– Saint-Gobain S.A.
– Asahi Glass Co., Ltd.
– Fuyao Glass Industry Group Co., Ltd.
– Webasto SE
– Samvardhana Motherson Automotive System Group BV (SMRPBV)
– Nippon Sheet Glass Co., Ltd.
– Gentex Corporation
– Magna International Inc.
– Inteva Products
– Xinyi Glass Co., Ltd.
Download the full report: https://www.reportbuyer.com/product/4169026/