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Automotive Glazing Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
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LONDON, GREATER LONDON , UK, August 28, 2024 /EINPresswire / -- The global automotive glazing market has demonstrated robust growth in recent years. It is projected to increase from $20.08 billion in 2023 to $21.46 billion in 2024, achieving a compound annual growth rate (CAGR) of 6.9%. This growth can be attributed to factors such as the emphasis on reducing vehicle weight to improve fuel efficiency, increasing consumer demand for vehicles, heightened importance of acoustic comfort, greater awareness of UV radiation's harmful effects, and growing environmental consciousness.
Rising Vehicle Production Fuels Market Expansion
The automotive glazing market is set to see strong growth in the coming years, anticipated to reach $28.14 billion by 2028 at a CAGR of 7.0%. This growth is driven by rapid urbanization, the expansion of the automotive aftermarket, rising demand for luxury and premium vehicles, globalization of automotive production, and the increasing popularity of electric and hybrid vehicles. As vehicle production rises, automotive glazing technology is becoming crucial for improving safety, comfort, and aesthetics. According to the European Automobile Manufacturers Association (ACEA), global vehicle production reached 85.4 million units in 2022, marking a 5.7% increase from 2021. This surge in production underscores the demand for advanced automotive glazing solutions.
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Automotive Glazing Market Key Players and Market Trends
Major companies in the automotive glazing market include Compagnie de Saint-Gobain S.A., Saudi Basic Industries Corporation, Magna International Inc., Evonik Industries AG, and PPG Industries Inc. These companies are at the forefront of developing innovative products to enhance their market position. For instance, AGC Automotive Europe S.A. introduced a photovoltaic panoramic sunroof in March 2024, integrating solar power generation capabilities within automotive glass to harness solar energy and extend the range of electric vehicles.
Trends Shaping the Market
Key trends driving the automotive glazing market include advancements in glazing technologies such as smart glass, stringent safety standards and regulations, and developments in manufacturing techniques. The focus is on integrating features like solar power generation and improving glass performance to meet evolving consumer needs and environmental regulations.
Automotive Glazing Market Segmentation
. By Type: Single Glazing, Double Glazing, Triple Low-E Glazing
. By Material: Laminated, Tempered, Polycarbonate (PB)
. By Technology: Sun Control Glazing, Hydrophobic Glazing, Switchable Glazing, Conventional
. By Application: Windscreen, Sidelight, Bakelite
. By Sales Channel: Original Equipment Manufacturers (OEM), Aftermarket
Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific led the automotive glazing market in 2023 and is expected to be the fastest-growing region in the forecast period. The region's significant automotive production capabilities and increasing consumer demand for advanced vehicle technologies contribute to its market leadership. Detailed regional insights and growth opportunities are available in the comprehensive report.
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Automotive Glazing Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Automotive Glazing Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive glazing market size, automotive glazing market drivers and trends, automotive glazing market major players, competitors' revenues, market positioning, and market growth across geographies. The automotive glazing market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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