According to the new market research report “Automotive Glazing Market by Polycarbonate-Application (Windscreen, Sidelite, Backlite, Sunroof, Quarter Glass, Front & Rear Lighting), Advanced Applications, Vehicle Type (On-Highway, Off-Highway, Electric & Hybrid), and Region – Global Forecast to 2025”, published by MarketsandMarkets™, the Automotive Glazing Market is estimated to be USD 1.4 billion in 2018 and is projected to reach USD 2.7 billion by 2025, at a CAGR of 10.13%. The market will be driven primarily because of the increase in demand for vehicle weight reduction owing to stringent emission norms. Polycarbonate weighs 50% less than glass and provides 20 times more strength which is estimated to drive the Automotive Glazing Market for polycarbonate.
Get 10% Free Customization on this Report:
Browse in-depth TOC on “Automotive Glazing Market”
94 – Tables
47 – Figures
181 – Pages
Passenger car to be the largest market for automotive glazing, by vehicle type
Passenger cars include vehicles such as hatchback, SUVs, and sedans. According to OICA, the production of passenger cars accounted for the maximum share of the total global vehicle production for all the regions including in 2018 and is expected to dominate during the forecast period. Due to the better adaptability to complex design and glass like transparency, nearly all vehicles are equipped with polycarbonate front and rear lightings. Applications such as sunroof and rear quarter glass, which are used mainly in passenger cars, are estimated to have high potential for polycarbonate installation. With the increasing installation of sunroof and rear quarter glass applications in passenger cars and usage of polycarbonate for these applications, passenger car is estimated to be the largest segment by vehicle type.
BEV is anticipated to be the fastest growing component market for electric vehicle automotive glazing
Vehicle weight reduction is the predominant criteria in BEVs. As polycarbonate usage in glazing will reduce the vehicle weight by 20–25 kg, it will have a huge impact on the BEV range. Additionally, a majority of BEVs such as Tesla Model X, Model S, Model 3, and BMW i3 fall under the premium vehicle category Premium vehicles are equipped with sunroof and rear quarter glass. These applications are estimated to garner high potential for polycarbonate glazing. Increasing sales of BEVs coupled with the increasing penetration of polycarbonate glazing applications will result in BEV being the fastest growing segment.
“Asia Oceania expected to be the largest Automotive Glazing Market”
Asia Oceania is the largest Automotive Glazing Market and is expected to retain its position during the forecast period. Asia Oceania has emerged as a hub for automotive production in recent years owing to increasing population and urbanization. According to OICA, Asia Oceania accounted for ~46% of the global vehicle production in 2018 because of the presence of OEMs such as SAIC, Hyundai, Toyota, Suzuki, Tata, and Honda. Manufacturers in this region are focused on developing specific solutions that address fuel efficiency mandates.
Asia Oceania is estimated to be the largest Automotive Glazing Market
As consumers in the region are showing an increased inclination toward convenience and safety, the region has witnessed higher growth than the matured markets of Europe and North America. Because of high vehicle production, the total market size is greater than North American and Europe because of which Asia Oceania is estimated to be the largest Automotive Glazing Market.
Inquiry Before Buying:
The key players in the Automotive Glazing Market are SABIC (Suadi Arabia), Covestro (Germany), Teijin (Japan) Webasto (Germany), and Freeglass (Germany).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/auto-glazing-market.asp
Visit Our Website: https://www.marketsandmarkets.com