The Automotive Glass Replacement by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Automotive Glass Replacement, The automotive glass replacement market size has grown strongly in recent years. It will grow from $34.39 billion in 2023 to $37.83 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to vehicle ownership trends and aging fleet, accidents and collisions, environmental factors and weather conditions, insurance coverage and claims, safety regulations and compliance..
The automotive glass replacement market size is expected to see strong growth in the next few years. It will grow to $54.39 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to advanced driver assistance systems (adas), technological enhancements in glass materials, urbanization and increased traffic density, focus on vehicle aesthetics and customization, rising awareness of safety and security.. Major trends in the forecast period include focus on enhanced safety standards, innovation in glass coating technologies, integration of advanced materials, digitalization in customer service and appointment scheduling, expansion of electric and autonomous vehicles..
The increased automotive production is expected to propel the growth of the automotive glass replacement market going forward. Automotive production refers to the process of mass manufacturing identical models and offering them for sale to the public. If there is an increase in the production of vehicles, there will be an increase in automotive glass production and replacement as well, due to wear and tear, safety regulations, and others. For instance, in March 2022, according to a report published by the European Automobile Manufacturers’ Association (ACEA), the main lobbying and standards group for the automobile industry in the European Union, sales of passenger cars in the US increased by 5.5% from 2020 to 11.9 million units in 2021. Over 6.3 million passenger cars were produced in US auto facilities in 2021, an increase of 3.1% from 2020. Also, Chinese automakers produced 20.7 million vehicles in 2021, an increase of 7.1%. In 2021, the total number of cars produced worldwide climbed by 2.7% to 63.2 million. Therefore, the increased automotive production is driving the growth of the automotive glass replacement market.
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The automotive glass replacement market covered in this report is segmented –
1) By Product: Tempered, Laminated
2) By Vehicle Type: Passenger Car, Heavy Commercial
3) By Application: Windscreen, Backlite, Sidelite, Sunroof, Other Applications
4) By End Use: Original Equipment Manufacturer (OEM), Aftermarket Replacement (ARG)
Technological advancements are a key trend gaining popularity in the automotive glass replacement market. Major companies operating in automotive glass replacement are focused on developing innovative solutions to strengthen their position in the market. For instance, in July 2021, Jeep Performance Parts (Mopar), a Netherlands-based automotive manufacturer, introduced a new, industry-leading Gorilla Glass replacement Windshield for the latest Jeep Wrangler and Gladiator models. This windscreen is made with Corning Gorilla Glass, which uses the same chemical-strengthening technology as cell phone screens. This is an ultra-thin piece of gorilla glass with a fifty-two percent thicker outer ply, making this windscreen lightweight and durable. Additionally, it offers superior resistance to chips, cracks, and fractures from stones.
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