ACCESS Newswire
14 Oct 2020, 19:07 GMT+10
Automotive glass market is showing promising growth due to in numerous demand in electric car segment and other industries. East Asia is set to boost their production in the upcoming years with lucrative opportunities for manufacturers too.
DUBAI, UAE / ACCESSWIRE / October 14, 2020 / The automotive glass market is likely to surpass US$ 16.8 billion through the forecast period. Manufacturers and key players are regularly focussing on expanding sales opportunities in the market which will in turn widen value and revenue, thereby, paving a path for opportunities. Tough competition between players and inadequate standardization might hinder market growth which can act as key restraints in the market.
'Advancement in technology and increasing demand in electric segments or car manufacturing companies is promoting the market. Cost efficiency and access to technologies plays a key role in shaping the market scenario. The escalating need for passenger vehicles and widening sales is likely to drive the market growth globally,' says the FMI Analyst.
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Automotive Glass Market - Key Highlights
Automotive Glass Market - Driving Factors
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Automotive Glass Market - Key Restraints
Expected Impact on Market by Coronavirus Outbreak
Strict lockdown and social distancing has definitely affected this market. Pandemic has also led to lesser demand and supply of automotive glass and this market has witnessed considerable disturbance in the supply chain too. There are chances that it will revive soon due to easy restrictions now and higher demand for fast-growing electric vehicles. Key producers and players are likely to improve their strategies by working on innovation and relying on a greener approach for marking a better footprint in the market.
Competitive Landscape
Companies are planning to take up unique strategies to expand their market by widening service portfolio. Dura Automotive Systems, Saint-Gobain S.A., Asahi Glass Co. Ltd., Fuyao Glass Industry Group Co. Ltd., Nippon Sheet Glass Co. Ltd., Xinyi Glass Holdings Ltd., Central Glass Co. Ltd., Glas Trosch Holding AG are few of the important participants.
For an instance, key players are expanding their market presence among the peers by working on technological developments. Prominent players are planning to merge with manufacturers too to develop flat-glass production line.
Key participants are working on expanding online platform to maintain the level of competition throughout to boost their revenue system.
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More on the report
This report presents an analysis on the basis of segments including glass type (laminated, tempered etc.) application (windshield, back glass, door glass etc.) vehicle (passenger cars, buses, coaches, trucks, trailers) and region (North America, East Asia, Europe, Latin America etc.)
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About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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United Arab Emirates
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SOURCE: Future Market Insights
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