The automotive industry has seen an upward trend in various markets. The Automotive Air Filter Market is projected to reach US$ 6,680 Million by 2032. The Automotive AC Compressor Market is expected to reach US$ 13,696.2 Million by 2032, up from US$ 9,342.1 Million in 2022. The Automotive Wheel Rims Market is expected to grow at a CAGR of 6.20% during the forecast period from 2022 to 2032, reaching US$ 82,020.5 million by 2032. Additionally, the Automotive Fasteners Market is projected to grow at a CAGR of 6% during 2022 to 2032, reaching US$ 47,174.7 Million. Future Market Insights is an ESOMAR-certified business consulting & market research firm serving global clients across all leading & niche market segments across all major industries.
The global automotive glass market is expected to reach a valuation of US$ 5.70 billion by 2033, according to a report by Future Market Insights, Inc. The market is projected to secure a Compound Annual Growth Rate (CAGR) of 4% during the forecast period. Automotive glass applications in conventional passenger cars are reflecting higher growth than Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV), and electric vehicle applications.
The implementation of stringent safety norms by governments is anticipated to have a positive impact on the automotive glass market. The automotive industry is highly regulated in terms of safety standards, and high-quality glass is an essential aspect of ensuring passenger safety. Governments may impose regulations requiring automakers to use specific types of glass, such as laminated glass, designed to resist impact and prevent shattering. These types of glass can help reduce the risk of injury in the event of an accident, making them essential components of modern vehicles.
The increasing demand for advanced driver assistance systems (ADAS) in vehicles has also boosted the demand for high-quality automotive glass. ADAS technologies such as lane departure warnings, and blind spot detection rely hugely on sensors and cameras that require clear, high-quality glass to function properly.
The United States market dominates the global automotive glass market by capturing the maximum share through 2033. The market is highly competitive, and key players include Asahi Glass Co., Ltd., Saint-Gobain S.A., Nippon Sheet Glass Co. Ltd., Fuyao Glass Industry Group Co., Ltd., and Central Glass Co., Ltd.
In conclusion, the automotive glass market is expected to witness significant growth due to increasing demand for high-quality glass driven by stringent safety regulations and rising demand for ADAS technologies in vehicles.
The automotive glass market is a highly competitive industry, with several key players playing strategic roles. Saint-Gobain S.A. is a French multinational company that produces a range of glass products, including automotive glass, and focuses on innovation and sustainable development. AGC Inc., a multinational glass manufacturing company in Japan, is known for producing high-quality glass products and focuses on research and development to constantly improve its products and processes. Nippon Sheet Glass Co., Ltd., another Japanese glass manufacturing company, produces various glass products for the automotive industry, including laminated and tempered glass, and focuses on global expansion and growth. Fuyao Glass Industry Group Co., Ltd., a glass manufacturing company in China, produces a wide range of automotive glass products, including laminated glass, and focuses on vertical integration and improving its supply chain efficiency. Guardian Industries Corp., a multinational company in America, produces a range of glass products, including automotive glass, and focuses on innovation and developing new products to meet the evolving needs of its customers.
The market also includes other prominent players, including Pilkington Automotive Limited (N.S.G. Group), Central Glass Co. Ltd., Vitro, S.A.B. de C.V., Xinyi Glass Holdings Limited, Gentex Corporation, Magna International Inc., Webasto Group, Shenzhen Benson Automobile Glass Co. Ltd., Splintex Distribution AG, and Carlex Glass America L.L.C.
Recent developments in the global market include Saint-Gobain S.A.’s launch of a new range of automotive glass products designed to reduce vehicle weight and improve fuel efficiency. The company also plans to acquire Continental Building Products, a leading gypsum wallboard and finishing product manufacturer. AGC Inc. has developed a new glass technology capable of blocking up to 99% of harmful UV rays and plans to invest in a new glass production facility in the United States.
In conclusion, the automotive glass market is highly competitive, with key players focusing on innovation, sustainable development, research and development, global expansion, and supply chain efficiency. The market is expected to witness significant growth due to increasing demand for high-quality glass driven by stringent safety regulations and rising demand for advanced driver assistance systems (ADAS) technologies in vehicles.
In 2021, Nippon Sheet Glass Co., Ltd. announced the development of a new glass type that can absorb U.V. light and reduce heat entering a vehicle. The company is also planning to expand its production capacity in China. Fuyao Glass Industry Group Co., Ltd. has acquired a controlling stake in AGC Automotive Induver Morocco, a leading automotive glass manufacturer in North Africa. Fuyao Glass Industry Group Co., Ltd. also intends to expand its production capacity in the United States. In the same year, Guardian Industries Corp. developed a new glass technology that can block up to 99% of harmful U.V. rays. The company plans to invest in Poland’s new glass production facility.
The Automotive Glass Market is categorized by Glass Type (Laminated Glass, Tempered Glass), Application (Windshield, Back Glass, Door Glass, Quarter Glass, Vent Glass, Moon/Sun Roof), Vehicles Type (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles, Electric Vehicles), Sales Channel (OEM, Aftermarket), and Region (North America, Latin America, Europe, South Asia & Pacific, East Asia, The Middle East & Africa (MEA)).
The Executive Summary includes Global Market Outlook, Demand-side Trends, Supply-side Trends, Technology Roadmap Analysis, and Analysis and Recommendations.
The Market Overview covers Market Coverage / Taxonomy and Market Definition / Scope / Limitations. For more information, interested individuals can ask the analyst or explore FMI’s extensive ongoing coverage on the Automotive domain.
The demand for the Automotive Foams Market is predicted to be valued at US$ 42,300.0 Million in 2022, with a CAGR of 11.2% projected to reach US$ 122,289.2 Million from 2022 to 2032.
This article provides market growth projections for several key areas in the automotive industry. The Automotive Air Filter Market is expected to be valued at US$ 5,321.3 Million in 2022 and is projected to reach US$ 6,680 Million by 2032. The Automotive AC Compressor Market is anticipated to be valued at US$ 13,696.2 Million by 2032, up from US$ 9,342.1 Million in 2022. The Automotive Wheel Rims Market is projected to grow at a healthy 6.20% CAGR during the forecast period from 2022 to 2032, reaching US$ 82,020.5 million by 2032. The Automotive Fasteners Market is projected to grow at a CAGR of 6% during the period from 2022 to 2032, and is expected to reach US$ 47,174.7 Million by 2032.
Future Market Insights, Inc. is an ESOMAR-certified business consulting and market research firm, serving global clients across all leading and niche market segments across all major industries. They have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are their clients.
Future Market Insights predicts that the automotive glass market will focus on material improvements and smart glass technologies. This prediction is based on the increasing demand for fuel-efficient vehicles and the need for advanced safety features in automobiles.
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