Europe Automotive Glass Market Trends 2023- Industry Share, Revenue, Growth Strategy, Key players, Business Challenges and Future Opportunities till 2033: SPER Market Research
Automotive glass is frequently used to make car windows and windscreens. It resists water and helps shield the car from wind, dust, filth, and ultraviolet (UV) radiation. As a result, it finds widespread use in Europe’s automobile sector.
According to SPER market research, Europe Automotive Glass Market Size – By Glass Type, By Material Type, By Vehicle Type, By Application, By End User – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’state that the Europe Automotive Glass Market is predicted to reach USD 24.37 Billion by 2033 with a CAGR of 5.1%.
One of the major reasons propelling the automotive glass market in Europe is the increasing sales of automobiles. Furthermore, strict rules to lower carbon emissions have been recommended by the European Commission. As a result, automobiles that are lighter and more fuel-efficient are becoming more common, which is driving up demand for premium automotive glass in the area. Aside from this, the market is expanding due to the rising demand for hybrid and autonomous cars as well as the newly popular electric car glass that has sensors and cameras built into it. Leading manufacturers are also concentrating on adding coloured coatings, preventing smash-and-dash burglaries, shielding against glare, offering comfortable acoustics, and preventing passenger ejection in the event of an accident.
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Impact of COVID-19 on Europe Automotive Glass Market
Nevertheless, the manufacturing of automobile glass in Europe has been affected by the rapid outbreak of coronavirus disease (COVID-19) and the lockdown limitations imposed in several locations. After the lockdown restrictions are released, the market will grow. Moreover, adoption of premium glass variants can be hindered by the high costs associated with it. Government laws aimed at preventing the use of chemicals in raw materials for glass manufacture may limit the industry’s ability to grow quickly.
Based on regional segmentation, the European automotive glass market can be examined, taking into account nations like Germany, France, the UK, Italy, and others. Germany and France have robust automotive manufacturing industries, making them the top two markets for the consumption of automotive glass. The demand for automotive glass is driven by the large number of automakers and suppliers located in these nations. Italy and the United Kingdom both make substantial contributions to the industry because of their sizable car fleets and consumer preferences for cutting-edge glass technologies.
Europe Automotive Glass Market Key Player
Additionally, there are a number of major companies in the fiercely competitive European automotive glass sector. These organisations focus on product innovation, strategic collaborations, and mergers and acquisitions to increase their market position. Some of the market key players are Central Glass Co., Ltd., Fuyao Group, Gentex Corporation, Magna International, Nippon Sheet Glass Co., Ltd., Xinyi Glass Holdings Limited., Others. These businesses are well-established in the European market and provide a vast array of automotive glass solutions to meet the needs of various car models and clientele.
Europe Automotive Glass Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecast for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
By Glass Type: Based on the Glass Type, Europe Automotive Glass Market is segmented as; Laminated Glass, Tempered Glass, Others.
By Material Type: Based on the Material Type, Europe Automotive Glass Market is segmented as; IR PVB, Metal Coated Glass, Tinted Glass, Others.
By Vehicle Type: Based on the Vehicle Type, Europe Automotive Glass Market is segmented as; Buses, Light Commercial Vehicles, Passenger Cars, Trucks, Others.
By Application: Based on the Application, Europe Automotive Glass Market is segmented as; Backlite, Rear Quarter Glass, Rearview Mirror, Sidelite, Sideview Mirror, Windshield, Others.
By End User: Based on the End User, Europe Automotive Glass Market is segmented as; Aftermarket Suppliers, OEMs.
By Region: This research also includes data for Germany, France, United Kingdom, Italy, Spain, Others.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Europe Automotive Glass Market Growth
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