Automotive Glass Market to Rise at 6.9% CAGR till 2026; Increasing Stringency in Rules Governing Vehicle Safety to Foster Innovation: Fortune Business Insights™

Pune, April 07, 2020 (GLOBE NEWSWIRE) — The global automotive glass market size is projected to reach USD 27.75 billion by 2026, exhibiting a CAGR of 6.9% during the forecast period. Robust logistics infrastructure in developed nations will be a key factor fueling the growth of this market, infers Fortune Business Insights™ in its report, titled “Automotive Glass Market Size, Share, and Industry Analysis, By Glass Type (Tempered, Laminated), By Application (Windshield, Sidelite, Backlite, Sunroof), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Electric Vehicles), and Regional Forecast, 2019-2026”. The World Bank’s biennial report ‘Connecting to Compete’ stated that the current value of the global logistics industry stands at USD 4.3 trillion. Transport logistics is a critical component of international trade as it facilitates movement of goods and requires strong infrastructure to function smoothly. This infrastructure is well-developed and well-established in developed countries of the world.For instance, in the World Bank’s Logistic Performance Index, the top four countries of Germany, Sweden, Belgium, and Austria are from the European Union (EU) and the fifth is Japan from Asia. Efficient cross-border movement necessitates utilization of various types of vehicles and this is likely to escalate the demand for advanced automotive glass products in the forthcoming years.How have the market values been computed?What are the central growth drivers of this market?What hindrances does the market face?Which are the leading automotive glass market trends?Who are the top players and what are their dominant strategies?Which are the most lucrative regions for the market?An Overview of the Impact of COVID-19 on this Market:The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Competitive LandscapeEnhancement in Production Capacity to Stir Competitive EnergiesThe automotive glass market analysis reveals that raising production capabilities by key companies will be the prominent feature of competition in this market. These activities are aiding competitors to expand in foreign territories and penetrate untapped regions and countries, the analysis observes.
List of the Key Companies Operating in the Automotive Glass Market Report are:•          Guardian Glass LLC•          Nippon Sheet Glass Co. Ltd•          AGC Inc.•          Saint-Gobain Sekurit•          Magna International Inc.•          Xinyi Glass Holdings Limited•          Fuyao Glass Industry Group Co. LtdBooming Demand for Electric Vehicles to Accelerate Market GrowthStaggering air pollution levels have led to a dramatic shift in consumer preference from conventional to electric vehicles (EVs) in the past decade. In response, automakers have intensified their R&D efforts to cater to this paradigmatic change in consumer behavior. According to the International Energy Agency (IEA), the global EV fleet had gone beyond 5 million in 2018, representing an astounding rise of 63% from 2017 levels. Of these, nearly 45% are on road in China, the IEA further notes. The IEA also projects that up till 2030, the year-on-year increase in the global EV stock will be 44 million. This bodes well for this market as EVs will require sturdy glass solutions owing to their lighter weight and an expanding market for EVs will benefit the growth of the market for automotive glass.Regional AnalysisProgressing Economies in Asia-Pacific to Aid Market ExpansionAsia-Pacific is slated to command the automotive glass market share as the market size in the region stood at USD 8.62 billion in 2018. The major propeller for the market in the region is the rapid economic development of India and China which is stoking the demand for luxury goods such as cars. In addition to this, high rate of population growth is encouraging carmakers to ramp up production in the region.In Europe, growing preference for EVs and stringent regulatory norms for vehicular safety will primarily drive the market. In North America, increasing demand for glazing glass products has prompted manufacturers to innovate, which is auguring well for the market there.
Detailed Table of Content:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsMerger, Acquisitions, and PartnershipsDistributor Analysis – For Major PlayersGrowth and Penetration AnalysisPorter’s Five Forces AnalysisPEST AnalysisVendor LandscapeGlobal Automotive Glass Market Analysis, Insights and Forecast, 2015-2026Key Findings / SummaryMarket Analysis, Insights and Forecast – By Vehicle TypePassenger CarsLight Commercial VehiclesHeavy Commercial VehiclesElectric VehiclesMarket Analysis, Insights and Forecast – By Glass TypeTemperedLaminatedMarket Analysis, Insights and Forecast – By Application TypeWindshieldSideliteBackliteSunroofMarket Analysis, Insights and Forecast – By RegionNorth AmericaEuropeAsia pacificRest of the WorldTOC Continued…!
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Industry Developments:February 2020: Japan-based Nippon Sheet Glass’s UMU Smart Window® was selected LEXUS LM, Toyota’s luxury car brand, which is set to be introduced China and the rest of Southeast Asia. The window features a light-controlled glass that can change visibility at the flick of a switch by the driver.January 2019: Saint-Gobain, the French MNC, inaugurated a state-of-the-art flat glass production line (float) in Chennai, India. Constructed within the Saint-Gobain World Glass Complex, the facility houses advanced glass manufacturing plants for the automotive and construction industries, along with two coaters and two floats.Have a Look at Related Research Insight:Automotive Sunroof Market Size, Share & Industry Analysis, By Material Type (Glass, Fabric), By Product Type (Built-in sunroof, Top-mounted/spoiler sunroof, Panoramic, Pop-up, Folding), By Vehicle Type (Hatchback, Sedan, SUV) Others and Regional Forecast, 2019-2026Automotive Radar Market Size, Share & Industry Analysis, By Range (short-range, medium-range, long-range), By Application (Adaptive Cruise Control (ACC), Automatic Emergency Braking (AEB), Forward-Collision Warning System (FCWS), Blind Spot Detection (BSD), Intelligent Parking Assistance), and Regional Forecasts, 2019-2026Automotive Sensors Market Size, Share & Industry Analysis, By Sensor Type (Temperature Sensor, Pressure Sensor, Speed Sensor, Position Sensor, Others), By Application Type (Powertrain, Chassis, Exhaust, ADAS, and Others), By Vehicle Type (Passenger Car, LCV, HCV), and Regional Forecast, 2019-2026Automotive Steering System Market Size, Share & Industry Analysis, By Type (Electric Power Steering (EPS), Hydraulic Power Steering (HPS), Manual, Electro-Hydraulic Power Steering (EHPS), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), and Regional Forecasts, 2019-2026Automotive Airbags Market Size, Share & Industry Analysis, By Application (Knee, Side, Front, Curtain), By Vehicle Type (Passenger Cars, Commercial Vehicles), and Regional Forecasts, 2019-2025Automotive Lighting Market Size, Share & Industry Analysis, By Technology Type (LED, Halogen, Xenon), By Vehicle Type (Passenger Cars, Commercial Vehicles) By Application Type (Front Lighting, Rear Lighting, Side Lighting, Interior Lighting) and Regional Forecasts, 2019-2026Automotive Seat Belts Market Size, Share & Industry Analysis, By Type (two-point, three-point, others), By Vehicle (Passenger Cars, Commercial Vehicle), and Regional Forecast, 2019-2025Automotive Camera Market Size, Share & Industry Analysis, By Technology Type (Stereo, Monocular), By Application Type (Park Assist System, Lane Departure Warning System, Blindl Spot Detection, Lane Keep Assist, Road Sign Assistance, Adaptive Cruise Control (ACC), Intelligent Headlight Control, Others), By Vehicle Type (Passenger Cars and Others), and Regional Forecast, 2019-2026About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.Contact Us:
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