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May 20, 2020 2:13 PM ET

Automotive Glass Market: Coronavirus Impact – Key Takeaways




iCrowd Newswire - May 20, 2020

Key companies covered are Saint Gobain, Magna International, AGC Co., Nippon Sheet Glass Co., Pilkington, Schott, Fuyao Group Automotive Glass Co., Xinyi Glass, Gentex Corporation, Gurdian Glass, and more players.

The globalautomotive glass marketsize is projected to reach USD 27.75 billion by 2026, exhibiting a CAGR of 6.9% during the forecast period. Robust logistics infrastructure in developed nations will be a key factor fueling the growth of this market, infers Fortune Business Insights™ in its report, titled “Automotive Glass Market Size, Share, and Industry Analysis, By Glass Type (Tempered, Laminated), By Application (Windshield, Sidelite, Backlite, Sunroof), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Electric Vehicles), and Regional Forecast, 2019-2026”.The World Bank’s biennial report ‘Connecting to Compete’ stated that the current value of the global logistics industry stands at USD 4.3 trillion. Transport logistics is a critical component of international trade as it facilitates movement of goods and requires strong infrastructure to function smoothly. This infrastructure is well-developed and well-established in developed countries of the world.

 

For instance, in the World Bank’s Logistic Performance Index, the top four countries of Germany, Sweden, Belgium, and Austria are from the European Union (EU) and the fifth is Japan from Asia. Efficient cross-border movement necessitates utilization of various types of vehicles and this is likely to escalate the demand for advanced automotive glass products in the forthcoming years.

 

Request a Sample PDF Brochure:

 

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/automotive-glass-market-102579

 

The automotive glass market report states that the value of this market stood at USD 16.53 billion in 2018. The report additionally addresses the following questions:

 

 

 

 

 

 

 

 

An Overview of the Impact of COVID-19 on this Market:

 

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

 

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

 

Click here to get the short-term and long-term impact of COVID-19 on this Market:https://www.fortunebusinessinsights.com/automotive-glass-market-102579

 

Competitive Landscape

 

Enhancement in Production Capacity to Stir Competitive Energies

 

The automotive glass market analysis reveals that raising production capabilities by key companies will be the prominent feature of competition in this market. These activities are aiding competitors to expand in foreign territories and penetrate untapped regions and countries, the analysis observes.

 

List of the Key Companies Operating in the Automotive Glass Market Report are:

 

• Guardian Glass LLC

 

• Nippon Sheet Glass Co. Ltd

 

• AGC Inc.

 

• Saint-Gobain Sekurit

 

• Magna International Inc.

 

• Xinyi Glass Holdings Limited

 

• Fuyao Glass Industry Group Co. Ltd

 

Market Driver

 

Booming Demand for Electric Vehicles to Accelerate Market Growth

 

Staggering air pollution levels have led to a dramatic shift in consumer preference from conventional to electric vehicles (EVs) in the past decade. In response, automakers have intensified their RandD efforts to cater to this paradigmatic change in consumer behavior. According to the International Energy Agency (IEA), the global EV fleet had gone beyond 5 million in 2018, representing an astounding rise of 63% from 2017 levels. Of these, nearly 45% are on road in China, the IEA further notes. The IEA also projects that up till 2030, the year-on-year increase in the global EV stock will be 44 million. This bodes well for this market as EVs will require sturdy glass solutions owing to their lighter weight and an expanding market for EVs will benefit the growth of the market for automotive glass.

 

Regional Analysis

 

Progressing Economies in Asia-Pacific to Aid Market Expansion

 

Asia-Pacific is slated to command the automotive glass market share as the market size in the region stood at USD 8.62 billion in 2018. The major propeller for the market in the region is the rapid economic development of India and China which is stoking the demand for luxury goods such as cars. In addition to this, high rate of population growth is encouraging carmakers to ramp up production in the region.

 

In Europe, growing preference for EVs and stringent regulatory norms for vehicular safety will primarily drive the market. In North America, increasing demand for glazing glass products has prompted manufacturers to innovate, which is auguring well for the market there.

 

Quick Buy – Automotive Glass Market Research Report:

 

https://www.fortunebusinessinsights.com/checkout-page/102579

 

About Us:

 

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

 

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

 

At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

 

Contact Us:Fortune Business Insights™ Pvt. Ltd.308, Supreme Headquarters,Survey No. 36, Baner,Pune-Bangalore Highway,Pune – 411045, Maharashtra, India.Phone:US :+1 424 253 0390UK : +44 2071 939123APAC : +91 744 740 1245Email:[email protected]

Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Automotive Glass Market: Coronavirus Impact – Key Takeaways








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