The automotive windshield market is expected to grow from almost US$ 14 billion in 2017 to approx. US$ 18 billion in 2022.
Dublin, Ireland -- (SBWIRE) -- 09/19/2017 -- The global automotive windshield market is expected to witness a steady rise at 5.2% CAGR during the forecast period 2017 to 2022, according to a recent study by Fact.MR. The report anticipates revenues from the global automotive windshield market to account for nearly US$ 14,000 Mn in 2017. By 2022, revenues from the market will reach US$ 17,681.2 Mn.
The production and sales of vehicles, coupled with the vehicle parc have been witnessing an upsurge over the past few years. Growth of the automotive windshield market is directly proportional to the number of vehicles across the globe, as each automotive vehicle needs to be equipped with windshields. Manufacturers have introduced special-purpose windshields, for example- bullet-proof windshields, providing additional safety as well as security to passengers. Leading players in the market are focusing on increasing their product portfolio by new product launches, in a bid to cater rising demand for automotive windshield. Decreasing interest rates pertaining to car loans have enabled the adoption of more expensive and larger vehicles by consumers. This in turn is expected to drive demand for automotive windshields.
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With a number of advancements in technology, OEMs are working on the development of automotive windshield with virtual enhancements and reduced distractions. The cross-technology concept offers huge benefits in production of passenger cars. OEMs such as Toyota are focusing on increasing the production of passenger cars. In addition, the passenger cars have witnessed robust adoption of electronic systems in the recent past, boosting demand for heated windshields, connectors, high-speed wiring, and HUD windshields. The prices of raw materials required for production of automotive windshields, such as calcium oxide, silica, and sodium oxide, have been stable over the past few years, resulting into the stability of automotive windshield prices. These factors are expected to augment growth of the market during the forecast period.
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7 Key Projections for the Global Automotive Windshield Market
Asia Pacific excluding Japan (APEJ) will continue to be dominant in the global automotive windshield market, with sales witnessing a steady expansion through 2022.
Demand for automotive windshield in Middle East & Africa (MEA) will continue to be sluggish during the forecast period.
Passenger cars are expected to remain the most lucrative vehicles for sales of automotive windshield in the global market.
Sales of automotive windshield in LCVs and HCVs are estimated to register a moderate expansion over the forecast period.
Based on material type, glass will continue to be sought-after for production of automotive windshield. Sales of glass for automotive wind shield will account for the largest revenues by 2022-end.
On the basis of sales channel, aftermarket is expected to remain dominant in the global automotive windshield market. Sales of automotive windshield in OEM will register a comparatively lower CAGR than OEM through 2022.
Fact.MR's report profile key players in the global automotive windshield market, which include Saint-Gobain SA, Vitro, Fuyao Glass Industry Group Co., Ltd., Xinyi Glass Group, Asahi Glass Co., Ltd., Safelite Auto Glass, Nippon Sheet Glass Co. Ltd., Racing Shields, Guardian Industries, and Gerber Collision & Glass Inc.
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