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$22.7 Bn Automotive Glass Market Outlook, 2025 - ResearchAndMarkets.com

Post Time:Apr 07,2020Classify:Industry NewsView:975

The global automotive glass market is currently witnessing a healthy growth. Looking forward, the market is projected to reach a value of US$ 22.7 Billion by 2025, registering a CAGR of 4.2% during 2020-2025.

Significant growth in the automotive industry across the globe is one of the key factors driving the market. Increasing consumer inclination toward luxury and premium cars that are equipped with advanced utility and safety features, such as glass sunroofs, are significantly contributing to the market growth.

Furthermore, various technological innovations, including the development of smart automotive glass and its integration with the in-vehicle entertainment systems, are also providing a boost to the market growth.

Smart glass can modify light intensity, voltage fluctuations and heat variations of the vehicle, which aid in improving the overall driving efficiency, passenger comfort and safety. The glass is used as a digital interactive surface for advertising, entertainment and panoramic experiences.

Other factors positively influencing the market growth include the increasing purchasing power of consumers, rapid urbanization in emerging nations and widespread adoption of electric and hybrid vehicles across the globe.

The competitive landscape of the industry has also been examined with some of the key players being Asahi Glass, Corning, Fuyao Glass, Gentex, Hitachi Chemical, Magna, Nippon Sheet Glass, PGW, Polytronix, Saint-Gobain, Samvardhana Motherson, Webasto, Xinyi Glass, Ltd. etc.

Source: Author: shangyi

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