Automotive Glass Replacement Global Market Report 2023

Oct 13, 2023

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.

New York, June 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Glass Replacement Global Market Report 2023" - https://www.reportlinker.com/p06464160/?utm_source=GNW 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.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 Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive glass replacement market is expected to reach $50.33 billion in 2027 at a CAGR of 9.4%.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.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.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 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).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.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.For instance, in July 2021, Jeep Performance Parts (Mopar), a Netherlands-based automotive manufacturer, introduced a new, industry-leading Gorilla Glass replacement Windshield for the latest Jeep Wrangler and Gladiator models.This windscreen is made with Corning Gorilla Glass, which uses the same chemical-strengthening technology as cell phone screens.This is an ultra-thin piece of gorilla glass with a fifty-two percent thicker outer ply, making this windscreen lightweight and durable. Additionally, it offers superior resistance to chips, cracks, and fractures from stones.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.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.The automotive glass replacement market research report is one of a series of new reports that provides automotive glass replacement market statistics, including automotive glass replacement industry global market size, regional shares, competitors with a automotive glass replacement market share, detailed automotive glass replacement market segments, market trends and opportunities, and any further data you may need to thrive in the automotive glass replacement industry. This automotive glass replacement market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06464160/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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