According to a new report Global Automotive Aftermarket Glass Market, published by KBV Research, The Global Automotive Aftermarket Glass Market size is expected to reach $4.4 billion by 2025, rising at a market growth of 4.5% CAGR during the forecast period. The market growth is majorly driven by the booming tilt angle in windshields, for better viewing angles, and the increased demand for sunroofs. The high rates of casualties in automobile accidents, across the globe, have brought automobile safety under the focus. This has come forth as a key driver for the automotive glass market, as automobile manufacturers are compelling the OEMs to manufacture glass, with higher safety standards, for all vehicle segments.
Tempered glasses would have the largest share relative to its competitors, owing to its lower cost and easy availability. To increase its strength and durability the material is treated with controlled chemicals or thermal treatments. Laminated glasses are expected to witness significant growth rate of 5.2% owing to its demand in the vehicle windshield production.
The global automotive glass industry was dominated by the Asia-Pacific region in 2018, which was followed by Europe and North America. Among these regions, Europe is anticipated to see substantial growth in the global automotive glass market due to the existence of well-established automotive players and the increased demand for passenger vehicles has boosted the automotive glass market in Europe. Furthermore, the increased demand for passenger cars has contributed to an increase in the demand for automotive glass, which has further augmented the North American market.
The passenger car segment recorded the largest market share in 2018 and is expected to sustain this trend during the forecast period as well. The overall market growth is primarily driven by the increased demand for passenger cars, increased per capita income in emerging countries, and the increased adoption of glass in the automotive sector. The Heavy Commercial Vehicle market is expected to witness CAGR of 5% during (2019 - 2025).
Structural Insights: https://www.kbvresearch.com/automotive-aftermarket-glass-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Corning, Inc., Saint-Gobain Group, Magna International, Inc., Gentex Corporation, and Fuyao Glass Industry Group Co., Ltd., Guardian Industries Corporation (Koch Industries), Nippon Sheet Glass Co., Ltd., Xinyi Glass Holdings Limited, AGC, Inc., and Webasto Group.
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