The automotive glass market is valued at USD 19,674.3 million for 2024. The industry is foreseen to surpass USD 34,521.1 million by 2034 with mass adoption of EVs and automated cars in the coming times. A CAGR of 5.7% from 2024 to 2034 represents an uptrend in the growth scale of this business.
| Attributes | Description |
|---|---|
| Estimated Global Automotive Glass Industry Size (2024E) | USD 19,674.3 million |
| Projected Global Automotive Glass Industry Value (2034F) | USD 34,521.1 million |
| Value-based CAGR (2024 to 2034) | 5.7% |
The automotive glass industry represents an important aspect of the automotive sector on a global scale. This extends to the fitting of windshields, side and rear windows among other things. There has been a consistent increase in this market owing to the growing vehicle production, the rising consumer desire for safety equipment as well as technology improvements in glass manufacturing.
Besides, the rise of electric vehicles (EVs) and the sustainability factor also shape the market dynamics. With government initiatives encouraging cleaner modes of transport across different countries, the growing popularity of EVs is inducing changes in automotive glass design. For instance, manufacturers are coming up with new types of glasses such as smart glasses which change their form based on the weather.
Regionally, Asia-Pacific dominates the automotive glass market. It is led by countries like China and Japan. China’s automotive giants and numerous manufacturers contribute significantly to growth. Meanwhile, Japan’s established automotive industry with major players like Toyota and Honda fuels demand for high-quality glass products.
The North American and European markets have a characteristic influence of safety measures as well as technological improvements. Hence, the key players in these geographies invest on the research and development activities which focuses on the enhancement of performance and durability of the automotive glass.
This industry stands to grow further considering that there is an upsurge in the production of automobiles and a constant need for modern glass solutions that are eco-friendly. As the demands of the customers and policies change, the sectors growth is also anticipated.
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The industry was projected to be at a CAGR of 5.3% in the first half (H1) of 2023. However, in the second half (H2), there is a noticeable increase in the growth rate of 5.6%.
| Particulars | Value CAGR |
|---|---|
| H1 2023 | 5.3% (2023 to 2033) |
| H2 2023 | 5.6% (2023 to 2033) |
| H1 2024 | 5.5% (2024 to 2034) |
| H2 2024 | 5.8% (2024 to 2034) |
From H1 2024 to H2 2024, the CAGR is projected to slightly decrease to 5.5% in the first half and then increase to 5.8% in the second half.
Countertops Automotive Glass Market Uplifts as Vehicles are Manufactured and Sold
In the urban settings, there has been growing economic ostracism of automobile use which has been translated through the rampant urbanization in most countries across the globe. This is of course ramping up the automotive glass market. Expansion of economies subject the demand for cars and thus the production of automotive glass.
Expansion of Glass Usage in Automobiles to Increase the Auto Glass Business
The international automotive glass sector has taken a new dimension in the aspect of the car's size, shape, and material. This has greatly altered the form and size of glass used in making windshields and back glasses. The recent innovations were, however, aimed at minimizing the total glass weight per foot with the growing automotive glass design to improve the appealing prospects of the vehicle.
This has increased the consumption of glass per vehicle and thereby directly created a surge in demand for automotive glass per vehicle.
Increased Demand for Electric Vehicles
Expansion of the electric vehicle sector has led to a heightened demand for automotive glass. . It's Indicative of a situation where demand for glass used for making electric vehicles is forecasted to continue soaring as emission-friendly vehicles gain acceptance in the global market and further countries set ambitious targets to embrace such vehicles.
The worldwide electric-powered motor industry is ready to strengthen its industry hold globally at a promising CAGR of 21% from 2024 to 2034. This will increase demand for automotive glass significantly.
As governments internationally increasingly prioritize sustainability and emissions reduction. Due to this EV adoption rates are skyrocketing. Countries are enforcing stringent guidelines and providing incentives for EV adoption. Moto is to accelerate the shift far from inner combustion engines toward electric-powered propulsion.
This regulatory environment and advancements in battery generation and charging infrastructure, is driving consumer self-assurance and boosting EV sales. This boom immediately translates into a heightened call for automotive glass, as every electric vehicle requires automotive glass.
Growing Adoption of Sunroof/Moon Roofs in Luxury Cars
Changing consumer preferences and growing individual per capita income have surged this profile. Sunroof/moon roof acts as a luxury statement, as the feature was previously only available in luxury segment vehicles. But with consumer preferences changing rapidly, manufacturers are starting to incorporate sunroof/moon roofs into more medium segment cars as well to appeal to the consumer needs
Solar Reflective Glasses to Catch the Glimpse
Consumers prefer solar reflective glasses with surging awareness of the after-effects of these radiations. These glasses reduce the interior temperature. Solar reflective glasses provide a cooler and more comfortable interior environment and help reduce the load on air conditioning systems. This improves fuel efficiency. This trend is expected to continue as automakers and consumers prefer safety and energy efficiency in vehicles.
High initial capital and set-up cost of an automotive glass plant, which restricts geographic expansion
To set up a new glass plant large investment is required. After 15-20 Years plants need upgradation which again requires a large investment. This is affecting the decisions of manufacturers regarding new plat set-ups. Major glass manufacturers such as Saint-Gobain, Fuyao Glass, Magna, and Webasto have preferred to expand their existing plants instead of establishing new ones.
Manufacturers prefer to build a customer base for existing plants over establishing entirely new ones. Such expansions in existing plants might restrict the technology transfer over regions.
This scenario may restrict the company from serving clients from limited regions. This phenomenon acts as a restraint to companies that have limited global presence and affects their business growth. Thus high initial investment restrains manufacturers to establish new glass plants.
Principal Consultant
The automotive glass market experienced a CAGR of 2% from 2019 to 2023. The market size of USD 18,761.2 million in 2023 was projected.
The pandemic impacted consumer purchasing power. This led to a decline in demand for goods and a subsequent drop in industrial production. This directly affected automotive glass production. As a result, lower purchasing power contributed to decreased sales of vehicles. The pandemic caused global supply chain disruptions. This resulted in a temporary downturn in the market.
The growth reflects a recovery in consumer confidence and an ongoing demand for vehicle upgrades and replacements. This is positioning the automotive glass industry for a promising future. The growing automotive output in developing countries will hence pull demand upward till the end of the period forecasted.
The customization of vehicles by incorporating advanced functions such a panoramic glass roofs, and tinted glasses among others will create demand for automotive glasses.
Also, the aftermarket segment will increase the total demand as it is evident that there will be the need to replace these glasses as a result of wear and tear, and even accidents. Increasing adoption of electric vehicles will create the need for more advanced glass technologies for example lighter glasses compared to traditional ones.
The automotive glass industry is moderately consolidated among leading manufacturers. The leading players account for more than 45%-50% of the automotive glass market share. Tier-I players hold around 30% to 35% of total share. They leverage their extensive expertise in manufacturing and a broad geographical reach. Fuyao Glass Industry Group Co. Ltd., Magna International Inc. and Guardian Industries.
Tier-II Players hold 20% to 25% of total value share. They may specialize in specific types of glass or serve niche end uses within the industry Nippon Sheet Glass Co., Ltd, AGC Inc., XINYI GLASS HOLDINGS LIMITED, Saint-Gobain S.A., Central Glass Co. Ltd., Gentex Corporation, Vitro, S.A.B. de C.V, Dura Automotive System LLC and a few others are the prominent players in the Tier-II players.
In the automotive glass industr, Tier-III Players hold 40% to 45% of the total share. Tier 3 companies are smaller and more specialized compared to Tier 1 and Tier 2 manufacturers. They often focus on local or regional trade, niche applications, or specific types of glass. These companies are mostly domestic players with smaller production capacities and are heavily reliant on intra-region trade and domestic demand.
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The section analyzes the automotive glass market by country, including China, India, Japan, Italy, and Canada. The table presents the projected CAGRs for each country, indicating their expected future contribution to the sector growth through 2034. China is estimated to hold a prominent industry volume share in global trade. Also, Japan holds a prominent share in global trade and shows a promising growth of 6.7% over the forecast period.
| Countries | CAGR 2024 to 2034 |
|---|---|
| China | 8.5% |
| Japan | 6.7% |
| Italy | 6.4% |
| India | 6.2% |
| Canada | 5.6% |
China tops the automotive glass market in Asia. It is foretold to experience a CAGR of 8.5% through 2034. The country is a major player in automobile production with its highly skilled production units. They manufactured around 30 million vehicles last year alone. This high output has created a strong demand for automotive glass.
The upscaling middle-class population in China creates the need for vehicles. In China, there is a huge consumer base of vehicles that drives the demand for automotive glass in the aftermarket sale.
The industry projects to register a CAGR of 6.2% from 2024 to 2034 in India. India is an attractive destination for manufacturers in this sector. India has inexpensive labor and lower production costs. Global and domestic automotive glass manufacturers are ramping up their production capacities in India. They are upscaling to the growing demand for electric vehicles.
Populace in India prefers the inclusion of sunroofs into their vehicles to keep up with the changing automobile landscape. This provides a great opportunity for glass manufacturers to tap into the newly emerging sunroof segment in medium to highly expensive cars segment.
The automotive glass market in Japan is poised to grow at a CAGR of 6.7% through 2034. Japan is second largest automotive industry in East Asia. Major automotive manufacturers here are Toyota, Honda, Nissan, Mazda, Suzuki, Subaru, Daihatsu, and Mitsubishi.
The advanced automotive sector holds credit for its development worldwide. Inc. and Nippon Sheet Glass Co., Ltd. are increasing their investments to expand their production facilities. The rising electric vehicle adoption culture in Japan will drive the automotive glass market.
This section explores a focused understanding of individual segments, enabling targeted strategies and informed decision-making for stakeholders.
| Segment | Windshield (Application Type) |
|---|---|
| Value Share (2024) | 23.1% |
The windshield segment is forecast to experience a decent share value of 23.1% for 2024. Windshield application will maintain its leading position due to various factors. Windshields have an important role in vehicle structure and vehicle safety. Windshields have high replacement rates compared to other applications. The high replacement rates drive demand for windshields.
| Segment | Tempered Glass (Glass Type) |
|---|---|
| Value Share (2024) | 65.5% |
The tempered glass segment is dominating the segment with 65.5% value share. The tempered glass category is forecast to experience a steady CAGR of 5.9%.
Tempered glass can shatter into small, blunt pieces rather than sharp shards. This increases passenger safety considerations for manufacturers. Compared to laminated glass tempered glass is less expensive. Tempered glass has strong demand in aftermarket. As the automotive industry shifts towards lighter materials tempered glass is able to meet this demand.
This section helps business owners to understand sector trends, fostering competitive advantage and sustainable business growth. It insights into competitive dynamics.
The market participants are strategically focusing on the introduction of high durability and lightweight glass along with investments in expanding production capacities. For example, Saint-Gobain’s acquisition of Adfil NV and its pioneering hydrogen-based glass production shows the company’s commitment to innovation. Fuyao Glass's substantial investments in new factories in North America and Asia demonstrate its strategy to enhance production capabilities.
Industry Updates
Glass types included in the study are laminated and tempered glass.
The report includes six types of categories under by application segment windshield, back glass, door glass, quarter glass, vent glass, and moon/sun roof.
Vehicle types included in the study are passenger vehicles (Compact, Mid-Size, Luxury, and SUV), light commercial vehicles, heavy commercial vehicles, and electric vehicles BEV (battery electric vehicles), HEV (hybrid electric vehicles) and PHEV (plug-in hybrid electric vehicles).
The report includes two types of categories under by sales channels segment OME and aftermarket.
Regions considered in the study include North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, and the Middle East and Africa.
The global market was valued at USD 18,761.2 million in 2023.
The global industry is set to reach USD 19,674.3 million in 2024.
Global demand is anticipated to rise at 5.7% CAGR.
The industry is projected to reach USD 34,521.1 million by 2034.
Tempered glass dominate in terms of share.
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