Europe automotive glass market was estimated at US$ 14.12 billion in 2019 and is foreseen to register a CAGR of 4.5% over the forecast period.
The primary purpose of automotive glass is better visibility, 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 a number of people with disposable income and technological advances in developing countries is fueling the market growth.
• 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 vehicles 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.
Market growth and trends:
The increase in the use of sunroof, 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 the 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.
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.
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.
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 improves the environment of the vehicle. Manufacturers like Mercedes and Volvo are making a great effort to develop such glass shortly.
Based on the type, the European automotive glass market is bifurcated as Laminated and Tempered. Of these, the laminated segment is expected to witness the rapid development over the forecast period due to the increasing applications in windshields and side glazing to avoid damage to glass during an accident.
Based on the application, Europe automotive glass market is divided as Windshield, Sidelite, Backlite, Rear Quarter Glass, Side and Rear-View Mirrors. Among these, the windshield and rear-view mirror segments account for the largest share based on their purpose like assistance during parking, driving and identify vehicles at the front and back.
By Vehicle Type:
Depending on the vehicle type, Europe automotive glass market is separated as Passenger and Commercial. Of these, the passenger cars held the dominant share due to the rise in production and sales of the vehicles in recent years in Europe. However, light-vehicles in the commercial segment is likely to register a considerable growth rate in the coming years.
On the basis of end-user, the regional market is segmented as Original Equipment Manufacturers (OEMs) and Aftermarket. OEMs registered the highest portion of the overall revenue due to the advances in technology and demand for more safety in the production of vehicles.
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.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Automotive Glass, By Type
6.1.3 Market Size Estimations & Forecasts (2019-2024)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Automotive Glass, By Application
6.2.4 Rear Quarter Glass
6.2.5 Side and Rear-View Mirrors
6.2.6 Market Size Estimations & Forecasts (2019-2024)
6.2.7 Y-o-Y Growth Rate Analysis
6.2.8 Market Attractiveness Index
6.3 Automotive Glass, By Vehicle Type
6.3.3 Market Size Estimations & Forecasts (2019-2024)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
6.4 Automotive Glass, By End-User
6.4.3 Market Size Estimations & Forecasts (2019-2024)
6.4.4 Y-o-Y Growth Rate Analysis
6.4.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Type
7.2.3 By Application
7.2.4 By Vehicle Type
7.2.5 By End-User
7.3.1 By Country
188.8.131.52 Rest of Europe
7.3.2 By Type
7.3.3 By Application
7.3.4 By Vehicle Type
7.3.5 By End-User
7.4 Asia Pacific
7.4.1 By Country
184.108.40.206 South Korea
220.127.116.11 South East Asia
18.104.22.168 Australia & NZ
22.214.171.124 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Application
7.4.4 By Vehicle Type
7.4.5 By End-User
7.5 Latin America
7.5.1 By Country
126.96.36.199 Rest of Latin America
7.5.2 By Type
7.5.3 By Application
7.5.4 By Vehicle Type
7.5.5 By End-User
7.6 Middle East and Africa
7.6.1 By Country
188.8.131.52 Middle East
7.6.2 By Type
7.6.3 By Application
7.6.4 By Vehicle Type
7.6.5 By End-User
8. Key Player Analysis
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Asahi Glass
8.3 Nippon Sheet Glass
8.5 Fuyao Group
8.6 Xinyi Glass
8.7 Gentex Corp.
8.8 Magna International
8.10 Samvardhana Motherson
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures