Technavio, a tech-focused market research firm, has published a new report on the global automotive windshield market, which is expected to grow at a CAGR of close to 5% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global automotive windshield market into the following key regions: the Americas, APAC, and Europe.
Top three contributors for the global automotive windshield market are elaborated below
Automotive windshield market in APAC: China, India, and Japan are the main markets in APAC, accounting for most of the sales of vehicles. The increasing disposable income and the launch of new car models by OEMs are the fundamental driving forces behind the growth of the automotive windshield market in APAC region. Apart from these two factors, this region has witnessed heavy investment from the automotive value chain in the form of manufacturing and R&D facilities, especially in China, South Korea, India, Vietnam, and Thailand, during the past decade which facilitates the growth of the market.
According to Siddharth Jaiswal, a lead analyst at Technavio, specializing in research on automotive components, “OEMs have started introducing advanced safety features in premium and mid-segment vehicles to maintain market share in this highly competitive market and to comply with the regulations. As HUD systems equipped with augmented reality technology enhance driver and car safety, OEMs are planning on introducing them as a standard safety feature for luxury and mid-level vehicles in the region.”
Automotive windshield market in the Americas: Ford Motor and Corning have worked together to develop a Gorilla Glass-based hybrid windshield technology. Similarly, the demand for other innovative windshields such as specialized heated windshields is growing because of the weather conditions in many parts of the US and Canada. According to industry analysts at Technavio, the automotive windshield market in the Americas is projected to account for around 27 million units by 2021.
Automotive windshield market in Europe: In Europe, auto manufactures are equipping their vehicles with advanced windshields. For example, Mercedes-Benz offers the advanced windshield washing system Magic Vision Control in its premium segment of vehicles. Audi has integrated automated rain-sensing wipers in most of its cars. Currently, such technologies are available in luxury and premium cars. However, to gain economies of scale, OEMs will equip more vehicles with such technology during the forecast period.
The leading vendors operating in the global automotive windshield market are:
- ASAHI GLASS
- Nippon Sheet Glass
Other prominent vendors in the market include Fuyao Glass Industry Group, GUARDIAN INDUSTRIES, Pilkington, and Vitro.
A more detailed analysis is available in the Technavio report titled, ‘Global Automotive Windshield Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Automotive Seats Market 2017-2021
- Global Two-wheeler Upside-down Forks Market 2017-2021
- Global Automotive Heat Exchanger Market 2017-2021
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