Europe Automotive Glass Market

Europe Automotive Glass Market Size (2022 - 2027):

The Europe Automotive Glass Market was estimated at US$ 14.12 billion in 2021 and is predicted to register a CAGR of 4.5% over the forecast period 2022-2027.

The primary purpose of automotive glass is better visibility, and protection against bad weather like fog, rain, and sunlight. Also, it acts as a barrier against external noise and provides better aerodynamics. Strict government rules and regulations regarding passenger safety drive the production of automotive glass. Also, the escalation of the number of people with disposable income and technological advances in developing countries is fueling market growth.

Market Growth and Trends:

The increase in the use of sunroofs, particularly in high-end vehicles, should accelerate the growth of the automotive glass market in Europe. The installation of the sunroof is now not only limited to the luxury car segment but has also been introduced in others, by car manufacturers, such as Honda and Toyota. In addition, advances in vehicle design have increased the size of the windshield and side windows, resulting in the overall development of the industry.

Market Drivers:

With the growing demand in the automotive sector, year after year, the components used to build a vehicle should be consumed more. Automotive Glass Market in Europe is mainly driven by the increase in the angle of inclination of the windshields, for larger viewing angles, as well as by the growing demand for sunroofs. The increase in accident rates in cars has placed safety at the center of concern. It has also become an engine for the automotive glass market, as automakers are pressing original equipment manufacturers to make glass, with much higher safety standards, for all vehicle segments.

Market Restraints:

High costs involved with the adoption of premium glass variants can act as a market limitation. Strict government regulations to ensure the use of no chemicals in raw materials in the production of glass can restrict the rapid expansion of this industry.

Market Opportunities:

Smart glass has been predicted to be the next big thing in the overall automotive industry. Most of the research aimed to improve and make smart glass applicable to consumer vehicles. It can be used to provide a front screen in cars, making access to all controls easier, and also improving the environment of the vehicle. Manufacturers like Mercedes and Volvo are making a great effort to develop such glass shortly.

Market Key Developments:

• Increased demand for hybrid and electric vehicles to increase sales of automotive glass
• Manufacturers are focusing more on the production of electric and hybrid cars on the market. With vehicle buyers and manufacturers seeking more sustainable alternatives, the need for hybrid and electric vehicles will multiply, fuelling the demand for automotive glass in Europe.
• Growing demand for luxury vehicles to boost demand for automotive glass
• Currently, Mercedes-Benz and BMW of Daimler AG are focused on improving the level of comfort in luxury cars. Western Europe accounted for over 771,001,000 units in 2017, in terms of luxury vehicle manufacturing. By 2026, it is projected to reach 1,143,840,000 units, due to growing demand and increased spending on luxury vehicle consumption. 
• In January 2016, Corning and Saint-Gobain decided to create an independent joint venture to develop, manufacture and sell light automotive glazing solutions. Advanced glazing solutions can help OEMs develop head-up displays.

EUROPE AUTOMOTIVE GLASS MARKET REPORT COVERAGE:

Market Segmentation:

Europe Automotive Glass Market - By Type:

• Laminated
• Tempered

The laminated segment is expected to witness rapid development over the forecast period due to the increasing applications in windshields and side glazing to avoid damage to glass during an accident.

Europe Automotive Glass Market - By Application:

• Windshield
• Sidelite
• Backlite
• Rear Quarter Glass
• Side and Rear-View Mirrors

The windshield and rear-view mirror segments account for the largest share based on their purpose like assistance during parking, driving, and identifying vehicles at the front and back.

Europe Automotive Glass Market - By Vehicle Type:

• Passenger
• Commercial

Passenger cars held the dominant share due to the rise in production and sales of vehicles in recent years in Europe. However, light vehicles in the commercial segment are likely to register a considerable growth rate in the coming years.

Europe Automotive Glass Market - By End-User:

• Original Equipment Manufacturers (OEMs)

• Aftermarket

OEMs registered the highest portion of the overall revenue due to the advances in technology and the demand for more safety in the production of vehicles.

Market Regional Analysis:

Europe is the second-largest region in the world marketplace for automotive glass. As per the European Association of Automobile Manufacturers, the turnover generated by the automobile sector in the European Union represents 6.8% of its GDP. Besides, vehicle manufacturing is an important strategic industry in the European Union economy, where 19.6 million cars, trucks, vans, and buses are produced every year. As a result, the demand for automotive glass is significant in this region.

Market Key Players:

1. Saint-Gobain
2. Webasto
3. Asahi Glass
4. Nippon Sheet Glass
5. Xinyi Glass
6. Fuyao Group
7. Gentex Corporation
8. Magna International
9. Corning
10. Samvardhana Motherson