Global Automotive Glass Replacement Market Report 2023: Increased Automotive Production is Expected to Drive Growth

DUBLIN, June 21, 2023 /PRNewswire/ -- The "Automotive Glass Replacement Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.

The global automotive glass replacement market is expected to grow from $31.79 billion in 2022 to $35.19 billion in 2023 at a compound annual growth rate (CAGR) of 10.7%. The automotive glass replacement market is expected to reach $50.33 billion in 2027 at a CAGR of 9.4%.

Major players in the automotive glass replacement market are AGC Inc., Corning Incorporated, Fuyao Glass Industry Group Co. Ltd., Nippon Sheet Glass Co. Ltd., Saint-Gobain S.A, Xinyi Glass Holdings Co. Ltd., Central Glass Co. Ltd., Guardian Industries, Vitro S.A.B. de C.V., Gentex Corporation, PGW, Samvardhana Motherson, Hitachi Chemical Co. Ltd., Magna International Inc., Magna International Inc., Hitachi Chemical Co. Ltd., PGW Auto Glass LLC, Polytronix Inc., Olimpia Auto Glass Inc, Shatterprufe, Taiwan Glass Ind Corp, Aziayecam Group, Kaycan Ltd, and Webasto Group.

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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.

The main types of automotive glass replacement products are tempered and laminated, which are used in various types of vehicles, including passenger cars and heavy commercial vehicles. Tempered or toughened glass is a type of glass that has undergone precise thermal or chemical processing to make it stronger than regular glass. These are used for several applications, such as windscreen, backlite, sidelite, sunroof, and others, and are used by several end-users, including original equipment manufacturers (OEM) and aftermarket replacements (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.

In November 2022, Safelite Group Inc., a US-based property technology company, acquired Genuine Auto Glass for an undisclosed amount. Through this acquisition, Safelite Group Inc., hopes to build a strong and impressive reputation for providing outstanding customer service. Genuine Auto Glass, a US-based auto glass company that repairs and replaces vehicle glass of all kinds.

Asia-Pacific was the largest region in the automotive glass replacement market in 2022. It is expected to be the fastest-growing region in the forecast period. The regions covered in automotive glass replacement report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the automotive glass replacement market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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.

The automotive glass replacement market includes revenues earned by entities by replacing glass, windshield, side mirrors, door glass, and other glass components. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Key Topics Covered:

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
4.1. COVID-19 Impact On Automotive Glass Replacement Market
4.2. Ukraine-Russia War Impact On Automotive Glass Replacement Market
4.3. Impact Of High Inflation On Automotive Glass Replacement Market

5. Automotive Glass Replacement Market Size And Growth
5.1. Global Automotive Glass Replacement Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Automotive Glass Replacement Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Automotive Glass Replacement Market Segmentation
6.1. Global Automotive Glass Replacement Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Tempered
• Laminated

6.2. Global Automotive Glass Replacement Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Passenger Car
• Light Commercial
• Heavy Commercial

6.3. Global Automotive Glass Replacement Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Windscreen
• Backlite
• Sidelite
• Sunroof
• Other Applications

6.4. Global Automotive Glass Replacement Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Original Equipment Manufacturer (OEM)
• Aftermarket Replacement (ARG)

7. Automotive Glass Replacement Market Regional And Country Analysis
7.1. Global Automotive Glass Replacement Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Automotive Glass Replacement Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/2k4k0m

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