Market Analysis and Size
The automotive industry has experienced phenomenal growth in recent years, resulting in a rapid increase in the number of vehicles on the road, providing aftermarket players with a larger target market. According to the National Highway Traffic Safety Administration, six million car accidents occur in the United States (U.S.). The most common vehicle parts that require replacement after an accident are the sidelite and windshield. As a result, the market is anticipated to have an accelerated growth over the forecast period due to an increase in the number of vehicles on the road and the number of accidents.
Global Automotive Aftermarket Glass Market was valued at USD 7.83 billion in 2021 and is expected to reach USD 13.11 billion by 2029, registering a CAGR of 6.66% in 2022 2029. The "tempered glass" accounts for the largest type segment in the automotive aftermarket glass market owing to its high rigid strength, which protects the vehicle occupant during an accident. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
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Automobile glass is produced by aftermarket glass manufacturers who are not affiliated with the automobile manufacturers as original equipment manufacturers (OEM). They duplicate the original product without consulting the vehicle's original manufacturers. These products will have the same fit and shape, but the final product may differ in terms of durability, thickness, UV protection, or tint color. Compared to an OEM product, aftermarket glass for automobiles is usually the least expensive option.
Automotive Aftermarket Glass Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Increased Adoption of Automotive Aftermarket Glass
Glass consumption in the automotive aftermarket is expected to increase as more road traffic accidents occur around the world, combined with increased vehicle production. The growing popularity of car rental services is expected to boost the aftermarket's growth, as these new fleet owners have raised vehicle maintenance standards. Moreover, the rising demand in the global automobile sector and rising tilt angles in windshields for better visibility coupled with the rising demand for sunroofs in cars are all driving the automotive aftermarket glass market.
The burgeoning demand for luxury cars will further propel the growth rate of automotive aftermarket glass market. Additionally, the refurbished vehicles industry growth will also drive market value growth. The increasing automotive production is also projected to bolster the growth of the market. Furthermore, rising demand for automotive driver assistance systems (ADAS) in passenger and commercial vehicles, as well as rising sales of electric vehicles in the country, will drive the market forward over the forecast period.
- Research And Development Activities
Furthermore, various developments have compelled market players to get involved in research and development activities, which further enhance product applications and extend profitable opportunities to market players in the forecast period of 2022 to 2029. Moreover, vehicle aerodynamics research aims to improve operating speed. It has resulted in a number of advanced designs, which is estimated to expand the future growth of the automotive aftermarket glass market.
Some of the major players operating in the automotive aftermarket glass market are
- Shatterprufe (South Africa)
- Olimpia Auto Glass Inc. (Turkey)
- Saint-Gobain (Paris)
- Central Glass Co. Ltd (Japan)
- AGC Inc. (Japan)
- Fuyao Group (China)
- Guardian Industries (U.S.)
- Motherson (India)
- Webasto Group (Germany)
- Xinyi Glass Holdings Limited (China)
- Asahi Glass (Japan)
- Fuyao Glass (China)
- Vitro (Mexico),
- Nippon Sheet Glass Co. Ltd (Japan)
- Gentex Corporation (U.S.)
- Corning Incorporated (U.S.)
- Magna International Inc., (Canada)
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Global Automotive Aftermarket Glass Market Scope
The automotive aftermarket glass market is segmented on the basis of type, application, vehicle type and material. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Metal Coated
Automotive Aftermarket Glass Market Regional Analysis/Insights
The automotive aftermarket glass market is analyzed and market size insights and trends are provided by country, type, application, vehicle type and material as referenced above.
The countries covered in the automotive aftermarket glass market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the automotive aftermarket glass market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the presence of established glass manufacturing players and the increasing research and development capacities.
On the other hand, North America is estimated to show lucrative growth over the forecast period of 2022-2029, due to the increasing production and sale of commercial cars coupled with the rise in the demand for automotive OEMS in the region.
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