Global Automotive Glass Replacement Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

Automotive glass replacement refers to the act of substituting damaged glass components of an automobile with a new one. It is used to keep the car’s structural integrity intact, give the driver a clear vision of the road, and guarantee constant safety.

Sizing and Forecast

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..

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Segmentation & Regional Insights

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)

Asia-Pacific was the largest region in the automotive glass replacement market in 2023. It is expected to be the fastest-growing region in the automotive glass replacement market report during the forecast period. The regions covered in the automotive glass replacement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

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.

Key Industry Players

Major companies operating in the automotive glass replacement market are focused on adopting strategic partnerships to extend their distribution contracts and gain a competitive edge in the market. Automotive glass replacement companies are increasingly engaging in strategic partnerships to enhance their service offerings, expand their market reach, and improve customer satisfaction. These partnerships enable companies to leverage the strengths of their partners and create synergies that benefit both parties. For instance, in June 2022, Menzies Distribution, a UK-based retail logistics services company, partnered with Belron UK Ltd., a UK-based vehicle glass repair and replacement group, to secure a multi-year extension to its existing distribution contract. As part of the new contract, Menzies will supply Belron’s UK network of Autoglass and Laddaw shops with replacement automotive glass and related products. Under the new extension, Menzies will replace the current fleet, including truck-mounted Moffett forklifts, and will work with Belron to drive further continuous improvement initiatives.

The automotive glass replacement market report table of contents includes:

1. Executive Summary

 

2. Automotive Glass Replacement Market Characteristics

3. Automotive Glass Replacement Market Trends And Strategies

4. Automotive Glass Replacement Market – Macro Economic Scenario

5. Global Automotive Glass Replacement Market Size and Growt
…

31. Global Automotive Glass Replacement Market Competitive Benchmarking

32. Global Automotive Glass Replacement Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Automotive Glass Replacement Market

34. Automotive Glass Replacement Market Future Outlook and Potential Analysis

35. Appendix

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