- Press Release -

Advances in technology in the automotive sector, particularly in automotive glass continue to remain instrumental in driving sales of automotive windshields. Demand for automotive windshields is largely influenced by the increasing production and sales of cars, SUVs, trucks, and other heavy commercial vehicles worldwide. Moreover, with the Internet of Things (IoT) gaining ground in the automotive glass sector, manufacturers are introducing smart automotive windshield which is expected to auger well for the automotive windshield market. Fact.MR envisages that the sales of the automotive windshield are estimated to cross US$ 17,000 Mn by end of the assessment year (2022). The demand for automotive windshields is projected to rise at a significant CAGR of 5.2% in terms of value during the period of assessment, 2017-2022.

Sales of automotive windshields are likely to remain resurgent in the emerging economies of the Asia Pacific excluding the Japan (APEJ) region. Countries such as China and India are expected to portray high market lucrativeness in the coming years on the back of the rising production of vehicles. OICA reveals that the production of passenger cars and commercial vehicles (including LCVs and HCVs) in China and India has remained consistently high for the past few years. In addition, these countries are being targeted by major automobile manufacturers including Volkswagen, Hyundai, and Mercedes owing to the favorable business environment offered by these countries. This factor is likely to present significant growth opportunities for manufacturers of automotive windshields in the forthcoming years.

Sales of automotive windshield through OEM (original equipment manufacturers) are expected to grow at a steady pace throughout the period of forecast, reveals Fact.MR. However, aftermarket for automotive windshields is expected to remain strong in the coming years on the back of increasing replacements of the automotive windshield. According to the Association for Safe International Road Travel (ASIRT), around 1.3 million fatalities every day due to car accidents have been recorded. Increasing road accidents across the globe have pushed the aftermarket growth for the automotive windshields, in turn supporting the market’s growth during the period of forecast. According to the report, sales of automotive windshield through aftermarket is estimated to cross US$ 11,000 Mn by end of the year of assessment, making it a lucrative distribution channel for automotive windshield manufacturers.

The growth of the automotive windshield market is likely to remain influenced by the increasing demand for bulletproof cars. On the back of major macroeconomic factors such as a steady rise in GDP per capita and increasing purchasing power parity along with economic growth, the sales of b bulletproof cars are likely to be on an upswing. This aspect is expected to fuel demand for bulletproof automotive windshields. Moreover, manufacturers of automotive windshields are investing in developing touchscreen bulletproof automotive windshields in a bid to enhance the safety and operational performance of the vehicle. This trending aspect is expected to augur well for the growth of the automotive windshield market.

The sales of glass automotive windshields are likely to soar at a significant pace as compared to polycarbonate automotive windshields, says the report. High durability and strength offered by glass has fuelled its adoption as a superior material in manufacturing automotive windshield, particularly in passenger cars. On the contrary, the market for polycarbonate automotive windshields is likely to remain influenced by its steady demand from the race cars segment of the automotive market, reveals Fact.MR.

Demand for automotive windshields is expected to grow at a steady pace on the back of the increasing production of passenger cars, especially in emerging economies. For instance, according to OICA, production of passenger cars in India grew by 274,945 units in 2017 as compared to the previous year and is expected to further grow in the coming years. Likewise, sales of commercial vehicles in developed economies of Europe and North America are anticipated to surge in the forthcoming years, in turn paving potential growth opportunities for automotive windshield manufacturers.