SAN FRANCISCO, April 9, 2019
SAN FRANCISCO, April 9, 2019 /PRNewswire/ -- The global automotive glass market size is anticipated to reach USD 21.72 billion by 2025 expanding at a CAGR of 5.7%, according to a new report by Grand View Research, Inc. Increasing automobile production across the globe on account of technological advancements and rising disposable income levels, especially in emerging countries like China, India, and Japan, will augment the product demand over the forecast period.
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Read 129 page research report with TOC on "Automotive Glass Market Size, Share & Trends Analysis Report By Product (Laminated, Tempered), By Application (Windscreen, Sunroof), By End Use (OEM, ARG), By Vehicle Type (Passenger Car, LCV), And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/automotive-glass-market
China, in particular, is the largest market due to its significant vehicle production, which was estimated at approximately 29 million units in 2017. As a result, Asia Pacific region is anticipated to hold the largest share of the global automotive glass market over the forecast period. Moreover, rising investments by international OEMs in the region due to factors like land and raw material availability, high domestic demand, and cheap labor cost will drive the regional market further. The passenger car segment is likely to have a high growth on account of development of advanced automotive glass products with high-end features.
In addition, consumers' willingness to pay extra for premium passenger cars to get better quality and durability are likely to have a positive impact on the product demand. Laminated glasses are widely used in vehicle backlites as they offer lower visual distortion than other products, resulting in enhanced road safety. Furthermore, they can be easily repaired after damage unlike the tempered glass, which needs to be replaced completely.
Grand View Research has segmented the global automotive glass market on the basis of product, application, end use, vehicle type, and region:
- Original Equipment Manufacturer (OEM)
- Aftermarket Replacement (ARG)
- Passenger Car
- Light Commercial Vehicles (LCVs)
- Heavy Commercial Vehicles (HCVs)
- North America
- South Korea
- South Africa
- Saudi Arabia
- United Arab Emirates
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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