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The Automotive Aftermarket Glass Market, as per the SNS Insider report, recorded a size of USD 4.05 billion in 2023. It is anticipated to achieve a valuation of USD 6.08 billion by 2031, experiencing a compound annual growth rate (CAGR) of 4.80% throughout the forecast period from 2024 to 2031.
Market Report Scope
The automotive aftermarket glass market is a vibrant ecosystem fueled by several factors. A rising global vehicle fleet demands constant replacement and repair of windshields and windows due to wear and tear, accidents, and even extreme weather. Safety regulations mandate specialized glass solutions, pushing the market forward. Consumers, seeking both style and practicality, customize their vehicles with advanced glass options. Finally, the growing emphasis on sustainability has led to the development of energy-efficient and recyclable glass, reflecting a shift in consumer priorities. This interplay between necessity, innovation, and evolving preferences shapes a constantly evolving automotive aftermarket glass industry.
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Major Key Of Automotive Aftermarket Glass Market
- AGC Inc.
- Fuyao Glass Industry Group Co., Ltd.
- Nippon Sheet Glass Co., Ltd
- Saint-Gobain
- Xinyi Glass Holdings Limited
- Vitro
- Central Glass Co., Ltd.
- Corning Incorporated
- Guardian Industries
- TAIWAN GLASS IND. CORP.
- Sisecam
Market Analysis
The automotive aftermarket glass market is thriving due to a confluence of trends. The rise of electric vehicles (EVs) is creating a demand for specialized glass components tailored to their unique needs, with a focus on aerodynamics, weight reduction, and energy efficiency. Sunroofs are becoming increasingly popular in high-end vehicles, creating a niche market for replacements and repairs. Advancements in automotive technology are fostering the development of innovative glass solutions like smart glass that adjusts to sunlight for improved comfort and visibility. Additionally, heightened emphasis on passenger safety is driving demand for laminated windshields, offering superior protection compared to traditional tempered glass. Finally, expanding urban populations and rising disposable incomes are leading to more passenger vehicles on the road, further fueling the need for aftermarket glass replacements and repairs. These combined trends are propelling significant growth in the automotive aftermarket glass market.
Market Segmentation of Automotive Aftermarket Glass Market
By Type:
- Tempered Glass
- Laminated Glass
By Vehicle Type:
- Passenger vehicles
- Light Commercial vehicles
- Heavy Commercial vehicles
By Application:
- Windscreen
- Backlite
- Sunroof
- Sidelight
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East
- Africa
Segment Analysis
Tempered glass holds dominant position with over 51% market share in 2023 for side and rear windows due to its affordability and strength. However, safety concerns are driving a rise in laminated glass, particularly for windshields. Vehicle type also plays a role – passenger cars, dominating the market at 66% in 2023, require frequent replacements. But light commercial vehicles (LCVs) are experiencing the fastest growth, fueled by the e-commerce boom and its demand for delivery vans. Finally, application dictates the type of glass needed. Windshields, replaced most often, lead the pack, followed by backlites. Sunroofs and sidelights, though smaller segments, are steadily growing.
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Impact of Russia Ukraine War
The Russia Ukraine war has negatively affected the automotive aftermarket glass market. Supply chains are snarled, making it difficult to get the raw materials needed for glass production. Economic sanctions and overall instability are causing wild price swings and delays in manufacturing. This is hurting the bottom line of glassmakers and distributors. On top of that, consumer confidence is shaky in affected areas, leading to fewer car sales and less demand for replacement glass. However, the aftermarket glass industry is showing some grit. Manufacturers and distributors are scrambling to find new suppliers and strategies to lessen the blow of the conflict.
Impact of Economic Slowdown
Economic downturns have impacted the aftermarket glass market in both negative as well as positive way. Tight wallets may lead to fewer replacements. But on the flip side, people hold onto their cars longer, opting for repairs over buying new. This is especially true for passenger cars, where cost-effective fixes to extend a vehicle’s life become more appealing. So, while the overall auto industry might slow down, the aftermarket glass market could see a bump in sales due to the need for affordable repairs.
Key Regional Developments
The Asia Pacific (APAC) region is poised to dominate the global market. Abundant resources for auto part manufacturing in China and India, established glassmakers, and new EV-focused plants fuel this growth. A booming automotive sector here necessitates a thriving aftermarket glass industry for vehicle safety and maintenance. The diverse APAC landscape, with emerging economies and evolving regulations, creates a dynamic market. Furthermore, the region’s adoption of advanced automotive technologies drives demand for high-quality aftermarket glass that meets strict safety standards. This positions APAC stakeholders to capitalize on significant growth opportunities. Europe and North America follow, driven by safety regulations, technological advancements, and large existing vehicle fleets.
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Key Takeaways for Automotive Aftermarket Glass Market Study
- The rising demand for electric vehicles and the increasing focus on passenger car safety are key growth drivers for the automotive aftermarket glass market.
- Advancements in glass technology, such as the development of smart glass and energy-efficient options, are shaping the future of the market.
- The Asia Pacific region is expected to experience the fastest growth due to its expanding automotive industry and growing emphasis on vehicle safety.
- The global market presents both challenges and opportunities. Geopolitical tensions and economic slowdowns can disrupt supply chains and consumer spending, but the aftermarket segment can also benefit from a preference for vehicle repairs over replacements during economic downturns.
Recent Developments
- In May 2022, NSG Groupannounced its plan to integrate its automotive glass business in China with SYP Kangqiao Autoglass Co., Ltd., a leading Chinese automotive glass manufacturer.
- March 2022, LKQ Corporationentered into an agreement with One Equity Partners to divest PGW Auto Glass, a prominent North American distributor of aftermarket glass.
Table of Content- Major Points
- Introduction
- Industry Flowchart
- Research Methodology
- Impact Analysis
- Value Chain Analysis
- Porter’s 5 Forces Model
- Pest Analysis
- Global Automotive Aftermarket Glass Market Segmentation, by Type
- Global Automotive Aftermarket Glass Market Segmentation, by Vehicle Type
- Global Automotive Aftermarket Glass Market Segmentation, by Application
- Regional Analysis
- Company Profiles
- Competitive Landscape
- Use Case and Best Practices
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