Industry: Automotive
Published Date: July-2024
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 174
Report ID: PMRREP28033
The market size for automotive glass was estimated at US$25.0 Bn in 2024 and is expected to be valued at US$36.6 Bn by 2031. The market for automotive glass is expected to reach a growing, steady CAGR of 5.6% from 2024 to 2031.
Key Highlights of the Market
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Attributes |
Key Insights |
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Market Size (2024E) |
US$25.0 Bn |
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Projected Market Value (2031F) |
US$36.6 Bn |
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Global Market Growth Rate (CAGR 2024 to 2031) |
5.6% |
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Historical Market Growth Rate (CAGR 2018 to 2023) |
5.0% |
PMR presents a steady report for the automotive glass market. Market size growth is strengthened by increasing income levels, technological advancements, and the growing demand for safety, better interior decor and luxurious experiences.
The market plays a crucial role in the automotive industry, providing safety, comfort, and visibility to vehicles. Automotive glass includes windshields, sidelights (side windows), and backlights (rear windows).
Factors such as increasing income levels, technological advancements, and the growing demand for better interior decor and luxurious experiences in vehicles have contributed to the market's expansion.
Manufacturers are investing in the development of automotive glass that enhances comfort, safety, and visibility. These advancements are driving market opportunities and attracting new market entrants. This trend is expected to fuel market growth in the long term
Additionally, increased safety regulations on automotive glass in passenger cars are positively impacting the market. These regulations are driving the penetration of tempered glass in automotive production. Moreover, the increased replacement and repair activities of automotive glass in passenger vehicles are further augmenting market demand.
The automotive glass market size was valued at US$ 23.7 Bn and is projected to reach USD 36.6 Bn by 2031. Factors such as increasing vehicle production, rising disposable income, and the growing demand for improved quality of side glass are driving market growth.
Further, technological advancements are shaping the market growth. The market is witnessing developments in smart glass, which offers enhanced functionality and features such as tinting, defrosting, and energy efficiency. These technological developments are expected to drive market growth and provide new opportunities.
The automotive glass market report highlights the significant growth over the years, driven by various factors such as increasing vehicle production, rising demand for safety features, and advancements in glass technology.
The market was valued at US$19.5 Bn in 2019. It has experienced steady growth, with the market size projected to reach US$36.6 Bn by 2031, exhibiting a CAGR of 5.6% from 2024 to 2031.
There is a growing emphasis on lightweight cars due to rising concerns about harmful emissions and their impact on the environment. This trend is driving market demand.
The growth of electric and autonomous vehicles presents new opportunities for the market. As the adoption of electric and autonomous vehicles increases, the demand for automotive glass is expected to grow.
Additionally, stringent regulations regarding the use of automotive glass in vehicles are expected to shape the market. Compliance with safety standards and regulations will be crucial for market players to ensure the quality and safety of their glass products. These market trends are driving the penetration of sales in the industry.
Increasing Demand for Electric and Hybrid Vehicles
The demand for electric and hybrid vehicles has been growing rapidly in recent years. Factors such as favorable government policies, innovations in electric vehicle technology, and the need for sustainable transportation have contributed to this growth.
Electric and hybrid vehicles require specialized glass components, such as sunroofs and wide-angle windshields, which drive the market demand.
Advancements in Glass Technology
Technological advancements in automotive glass have played a significant role in driving market growth. Manufacturers are developing glass products that offer improved safety features, such as laminated glass that stays intact even after accidents, protecting vehicle occupants from injuries.
Additionally, advancements in smart glass technology, including features like tinting and defrosting, are attracting consumer interest and driving market expansion
Growing Sales of Vehicles
The overall growth in vehicle sales, including passenger cars, light commercial vehicles, and heavy-duty vehicles, has a direct impact on the demand for automotive glass.
As the automotive industry continues to expand, the need for high-quality glass components for new vehicle production and aftermarket replacements increases.
High Manufacturing Costs
One key disadvantage in the market expansion is the high manufacturing costs. The float glass process, which is used to manufacture over 90% of the world's automotive glass, requires significant capital investment and operates profitably at a capacity utilization of over 70%.
The raw material and energy consumption contribute to a major share of the overall cost structure of automotive glass. These high manufacturing costs pose challenges for pricing strategies and can impact the profitability of manufacturers
Limited Adoption in Developing Nations
The market faces challenges in terms of limited adoption in developing nations. Factors such as high manufacturing costs, poor infrastructure, and lower purchasing power in these regions can restrict the market's growth.
The prices of raw materials used in automotive glass production, such as silica, soda ash, and natural gas, can also fluctuate due to changes in demand, supply, and geopolitical factors. These factors can impact pricing strategies and hinder market expansion.
Rise of Self-Driving Cars
The emergence of self-driving cars presents a significant opportunity for the automotive glass market demand. With the increasing adoption of autonomous vehicles, the need for advanced glass technologies, such as head-up displays, augmented reality windshields, and integrated sensors, will rise.
Such technologies can enhance safety, visibility, and overall driving experience in self-driving cars. The automotive glass industry can capitalize on this opportunity by developing innovative glass solutions tailored to the specific requirements of autonomous vehicles.
Shift Towards Sustainable Glass Solutions
The growing focus on sustainability and environmental consciousness opens doors for the automotive glass market sales to explore eco-friendly and sustainable glass solutions.
Manufacturers can develop glass products that are lighter in weight, energy-efficient, and recyclable. This shift towards sustainable glass solutions aligns with the global efforts to reduce carbon emissions and promote a greener future.
Tempered Glass Takes the Lead in Product Segment
Based on product, tempered glass dominated the automotive glass market shares with a 59.1% revenue share in 2022 due to its affordability, strength, and durability. It is four to five times stronger than float glass and more cost-effective than laminated glass, making it the preferred choice for windows and backlights.
The laminated glass segment is projected to grow at a rapid CAGR of 5.3%. Laminated glass is also popular for sunroofs, driving segment growth. Prominent car manufacturers like Volvo, Ferrari, and Tesla incorporate laminated glass in vehicles featuring panoramic sunroofs.
Passenger Cars Take the Wheel in Global Market
Based on vehicle type, in 2022, passenger cars dominated the market with a 58.8% revenue share, driven by changing consumer trends, a growing middle-class population, and environmental concerns favoring low-emission and lightweight vehicles.
To meet the rising demand, automotive manufacturers are investing in production expansion. For example, VE Commercial Vehicles Ltd established a new plant in India to comply with BS-VI standards, while GM invested US$150 Mn to enhance heavy-duty pick-up truck production in the U.S.
OEMs Continue to Take the Charge
Based on end-use, in 2022, the OEM segment dominated the market with a 91.0% revenue share, driven by the use of automotive glass in vehicle production.
With the establishment of new automotive plants, particularly for electric vehicles like Tesla's factory in Shanghai, the OEM segment is expected to experience significant automotive glass market growth. On the other hand, the aftermarket segment is fueled by factors such as the high usage of old vehicles, maintenance and upgrades, and increasing road accidents.
Windscreen Reigns Supreme in Application Segment
Based on application, the windscreen segment held a significant 33.4% revenue share in 2022, driving automotive and glass manufacturers to develop new technologies for improved appearance and features.
The introduction of self-cleaning glass in windshields is expected to boost segment growth. The sidelight segment is projected to grow at a CAGR of 5.4% and surpass windscreen in volume demand by 2030. Increased usage of tempered glass in sidelights, particularly in the aftermarket, will drive market expansion.
Asia Pacific Sets the Stage for Rapid Market Growth
Asia Pacific emerged as the dominant market, capturing a significant 54.2% revenue share in 2022. This can be attributed to the region's robust economic growth, increasing disposable income, and rising demand for commercial vehicles. The automotive industry in Asia Pacific is witnessing substantial investments, further driving the growth of the market.
Countries like China, and India are experiencing changing consumer demands, leading manufacturers to focus on enhancing efficiency to meet the growing vehicle demand. Additionally, the demand for premium vehicles with sunroofs is on the rise in Asia Pacific, contributing to increasing automotive glass market sales.
North America Witnesses Accelerating Sales
North America is projected to grow at a 3.4% CAGR, driven by the rising sales of commercial vehicles, which will boost the demand for automotive glass. Manufacturers are incorporating value-added features like solar control, de-icing, integrated antennas, and rain/light sensors to offer unique products and increase profitability.
In February 2023, US auto glass shops experienced a surge in demand due to increased vehicle break-ins and supply shortages caused by the COVID-19 pandemic.
In Dec 2023, Corning, a global leader in automotive glass solutions, continues to innovate through its Automotive Glass Solutions. The company's ColdForm™ Technology and Fusion5™ Glass have significantly reshaped the industry, allowing manufacturers to shape glass at room temperature.
Collaborations with Taiwanese giants AUO and CarUX highlight Corning's commitment to fostering innovation and progress. These partnerships leverage Taiwan's expertise and capabilities within the tech industry, fueling advances in automotive design and materials. Corning's Fusion5™ Glass is engineered to meet the rigorous demands of modern automobiles, offering a 4x increase in impact resistance and 2x improvements in optics for Advanced Driver Assistance Systems (ADAS).
In Mar 2024, PGW Auto Glass has acquired AutoglassCRM, a provider of VIN decoding and point-of-sale software, to equip automotive glass installers with advanced tools for a competitive market. The acquisition supports PGW's strategic mission to provide customers with the best technologies to compete in the complex industry. "Everything Autoglass" offers a low-cost, advanced technology solution covering all aspects of shop management, aiming to help customers succeed.
Companies in the automotive glass market are actively pursuing growth through acquisitions and innovation. The presence of startups introducing fresh offerings adds to the competitive landscape.
To stay ahead, companies are investing in expanding production capabilities and enhancing technological features. Their aim is to develop innovative functionalities and seamlessly integrate technologies into this ever-changing sector, enabling successful market entry and widespread adoption.
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Attributes |
Details |
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Forecast Period |
2024 to 2031 |
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Historical Data Available for |
2018 to 2023 |
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Market Analysis |
US$ Billion for Value |
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Key Country Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Report Coverage |
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Customization & Pricing |
Available upon request |
By Product
By Vehicle Type
By Application
By End User
By Geographical Regions
To know more about delivery timeline for this report Contact Sales
The market is predicted to rise from US$25.0 Bn in 2024 to US$36.6 Bn by 2031.
Increasing income levels, technological advancements, and the growing demand for safety, better interior decor and luxurious experiences are propelling market growth.
Xinyi Glass Holdings Limited, Vitro, Central Glass Co., Ltd., and Corning Incorporated are some examples of key industry players.
Challenges like the limited adoption of automotive glasses in developing nations and high manufacturing costs are restraining market expansion.
The emergence of self-driving cars and growing focus on sustainability and environmental consciousness are the major factors creating opportunity.
