According to the latest market research study released by Technavio, the global bulletproof glass market is expected to grow at a CAGR of more than 9% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global bulletproof glass market based on application:
Global bulletproof glass market share by application 2015 (in billion)
|
Others |
787.0 |
|
Bank security |
778.0 |
|
ATM booths |
215.0 |
|
Display cases |
117.0 |
|
Armored cash trucks |
103.2 |
Source: Technavio
Global bulletproof glass market for bank security
The bank security segment generated a revenue of around USD 787 billion in 2015. The demand for the bulletproof glass from the global banking industry is increasing due to the growing government regulations on security. For instance, the Ministry of Public Security and the People’s Bank of China have made it mandatory for the financial sector including insurance companies, banks, or postal service outlets to use bulletproof glass.
“Bulletproof glass is primarily used to rope off the main cash handling areas from other areas to protect banks from robberies. Moreover, the increased remodeling and renovation of monetary facilities is expected to increase the demand for bulletproof glasses over the forecast period,” says Ishmeet Kaur, a lead analyst at Technavio.
Rising instance of robberies have resulted in branch expansions and growing safety concerns, which, in turn, creates a demand for bulletproof glass. To comply with the safety regulations imposed by governments, banks are increasingly adopting bulletproof glass across the entire banking network.
Global bulletproof glass market for ATM booths
The global demand for bulletproof glass for ATM booths is expected to grow at a CAGR of 14.66% during the forecast period. At ATM booths, bulletproof glass is widely used for protection purposes and its demand will increase with an increase in the number of new ATMs along with the need for replacement glass. The global market for ATM booth was dominated by the Americas in 2015, contributing 65.32% of the total market share, which was followed by APAC and EMEA. In 2015, APAC accounted for the highest number of new ATM installations due to the rise in disposable income of the customers along with the economic growth of the region. The recent increase in the number of ATMs globally is driving the demand for the bulletproof glass, which in turn is raising the revenue of the global bulletproof glass market.
Global bulletproof glass market for display cases
Display cases are used to display expensive merchandises in art galleries, museums, and jewelry stores, so to safeguard these display cases from theft. The demand for luxury goods and artworks is growing at a moderate rate of over 5% due to the rising disposable incomes and changing consumer lifestyles. Technavio predicts that the rising shift of population towards the affluent classes worldwide will upsurge the demand for luxury goods leading to the rise in demand for bulletproof glass. Moreover, the strict regulations of using bulletproof glass in the jewelry stores by various governments in the world like the Chinese government has increased the demand for bulletproof glass.
Global bulletproof glass market for armored cash trucks
Armored cash trucks are used to transport the cash to ATMs and banks, which must be bulletproof. APAC and ROW are expected to experience the highest growth in the demand for bulletproof glass for the armored cash truck market. The demand for bulletproof glass for armored cash trucks constitutes both new demand and replacement demand. The windshield of armored vehicles in operation needs to be replaced every four to five years.
The top leading vendors operating in the global bulletproof glass market are:
- Asahi Glass
- China Specialty Glass
- Guardian Industries
- NSG
- Saint-Gobain
Other prominent vendors in the market include Apogee Enterprise, Binswanger Glass, China Glass Holdings, Guangzhou Sky Tiger Tempered Glass, Jiangsu Yongxiang Glass Technology, Qufu Shenglu Bulletproof Glass Engineering, PPG Industries, SCHOTT, Şişecam, and Taiwan Glass.
A more detailed analysis is available in the Technavio report titled, ‘Global Bulletproof Glass Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Fire-resistant Glass Market 2016-2020
- Global Ballistic Protection Market 2016-2020
- Global Safes and Vaults Market 2016-2020
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