Automotive glasses are the aesthetics driven structures of a vehicle serving the purpose of protecting the occupants from the harsh exterior environment, aid in the circulation of fresh air whenever required, allow passage of natural light into the compartment, prevent the accumulation of heat in the interior space of the vehicle and improve the overall visual aspect of a vehicle. Passenger safety being one of the most important facets considered when designing a vehicle, puts a special emphasis on the designing of automotive glass as well.
Hence, automotive glasses are designed in such a way that it contributes minimal weight to the vehicle, withstand high external forces, minimize the drag induced on the vehicle and remain shatterproof in the unlikely event of being struck by external or internal agents. Both Original Equipment Manufacturers (OEMs) and Aftersales Manufacturers play important roles in the growth of automotive glass market. Aftersales Manufacturers enjoy an improved growth as far as distribution segment is concerned owing to increased replacements being witnessed due to frequent damage of the automotive glass.
Automotive glasses serve as an integral part of a vehicle and will continue to remain so in the future. Continuous innovations in the practical usage of automotive glass and implementation of smart glass is expected to fuel the growth of the automotive glass market. The spreading out of automotive glass market not only depends on the yearly production of vehicles worldwide, but also on the number of glass replacements carried out on the existing vehicle parc.
The average cost of a typical automotive glass plummeted in the 2008 financial crisis solely due to the reduced production of vehicles, but since then has improved considerably leading to a healthy and improved market value of automotive glass. Higher disposable income, increased preference of consumers towards safety, luxury & comfort and changing lifestyle have made automobiles more of a necessity than a hard to reach luxury product, thereby directly influencing as a healthy prospect for the growth of the automotive glass market.
Automotive glass market from the perspective of worldwide sales can be segmented into seven geographical regions such as Asia-Pacific excluding Japan, North America, Latin America, Western Europe, Eastern Europe, Japan and Middle East & Africa. In terms of vehicle production, China emerged as one of the global leaders registering more than double the output than the next country, the U.S., prompting steady growth in the automobile glass market in both Asia Pacific and North America regions.
Japan comes after the U.S. in terms of the number of vehicles produced per year further fuelling the market growth. The prospects of market growth in the Western Europe region is also expected to be fruitful, thanks to the improved vehicle production in Germany, France and Spain. The sales of automobiles in the Eastern Europe and Middle East & Africa region have considerably increased due to cheap vehicle prices and higher disposable wealth paving a way for better prospects of the automobile glass market.
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Some of the examples of the participants involved in the Global Automotive Glass Market are: Dura Automotive Systems, Asahi Glass Co., Ltd., Fuyao Glass Industry Group Co., Ltd., Nippon Sheet Glass Co., Ltd., Xinyi Glass Holdings Ltd., Shenzhen Benson Automobile Glass Co., Ltd., Central Glass Co., Ltd., Glas Trösch Holding AG, LKQ Corporation, Saint-Gobain S.A., Gentex Corporation, Magna International Inc., Vitro, S.A.B. de C.V., Guardian Industries Corporation