Automotive Aftermarket Glass Market Size To Attain USD 4.88 Bn By 2032

adminJanuary 15, 2024

The global automotive aftermarket glass market size was estimated at USD 2.94 billion in 2023 and is projected to hit around USD 4.88 billion by 2032, notable at a CAGR of 5.80% from 2023 to 2032.

Key Takeaways

Asia-Pacific contributed more than 54% of market share in 2022.
North America is estimated to expand at the fastest CAGR between 2023 and 2032.
By product, the tempered glass segment has held the largest market share of 51% in 2022.
By product, the laminated glass segment is anticipated to grow at a remarkable CAGR of 6.2% between 2023 and 2032.
By vehicle type, the passenger cars segment generated over 66% of market share in 2022.
By vehicle type, the light commercial vehicles (LCV) segment is expected to expand at the fastest CAGR over the projected period.
By application, the sidelite segment generated over 33% of the market share in 2022.
By application, the backlite segment is expected to expand at the fastest CAGR over the projected period.

Automotive Aftermarket Glass Market Size 2023 To 2032

The automotive aftermarket glass market is a dynamic sector that plays a crucial role in the automotive industry. It encompasses the replacement and repair of automotive glass components, including windshields, side windows, and rear windows. The market is driven by the increasing number of vehicles on the road, coupled with the growing awareness among vehicle owners about the importance of timely glass maintenance and replacement.

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Growth Factors

Several factors contribute to the growth of the Automotive Aftermarket Glass Market. First and foremost is the rising frequency of road accidents, leading to an increased demand for glass replacement. Additionally, advancements in automotive glass technologies, such as smart glass solutions and augmented reality displays, are driving market growth. The expanding global automotive fleet and the surge in urbanization further contribute to the market’s expansion, creating a favorable environment for aftermarket glass services.

Automotive Aftermarket Glass Market Scope

Report Coverage	Details
Growth Rate from 2023 to 2032	CAGR of 5.80%
Market Size in 2023	USD 2.94 Billion
Market Size by 2032	USD 4.88 Billion
Largest Market	Asia Pacific
Base Year	2022
Forecast Period	2023 to 2032
Segments Covered	By Product, By Vehicle Type, and By Application
Regions Covered	North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Drivers:

Key drivers of the Automotive Aftermarket Glass Market include stringent safety regulations that emphasize the importance of maintaining clear and undamaged visibility for drivers. Insurance policies often mandate timely glass repairs, stimulating the demand for aftermarket glass services. Moreover, the integration of advanced driver assistance systems (ADAS) in modern vehicles, which frequently involve sophisticated glass components, serves as a significant driver for the market.

Trends:

The market is witnessing noteworthy trends, with a shift towards eco-friendly and energy-efficient automotive glass materials. Additionally, there is a growing trend towards the adoption of smart glass solutions, allowing for adjustable transparency and augmented reality displays. Another emerging trend is the development of self-healing glass technologies, reducing the need for frequent replacements and repairs.

Competitive Landscape:

The Automotive Aftermarket Glass Market is highly competitive, with several key players vying for market share. Prominent companies are strategically focusing on product innovation, mergers, and collaborations to gain a competitive edge. Regional players also contribute significantly, catering to specific market needs. As the market continues to evolve, the competitive landscape is expected to witness increased consolidation, with companies expanding their service portfolios and geographical presence to stay ahead in the aftermarket glass industry.

Product

The Automotive Aftermarket Glass Market offers a variety of products to cater to different replacement needs. Windshields, being a critical component for driver visibility and safety, constitute a significant share of the aftermarket glass market. Side windows and rear windows are also essential product categories, addressing damage caused by accidents, vandalism, or natural elements. Sunroofs and panoramic glass roofs, although a niche segment, are gaining popularity, contributing to the diversity of products available in the aftermarket glass market.

Vehicle Type

The Automotive Aftermarket Glass Market is segmented based on the type of vehicles for which replacement glass is sought. This includes passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs). The passenger car segment typically dominates the market due to the higher number of these vehicles on the road. LCVs and HCVs, including trucks and buses, also represent significant market shares, driven by the commercial use of these vehicles and the need for timely glass replacements to ensure roadworthiness.

Application

The application segment of the Automotive Aftermarket Glass Market refers to the specific purposes or functionalities associated with the glass components. Safety applications are paramount, with a focus on meeting regulatory standards for visibility and structural integrity. Another crucial application is aesthetic or customization, where consumers may opt for specialty glass with tinting or other features to enhance the appearance of their vehicles. Additionally, the growing integration of technology in automotive glass, such as heads-up displays and sensors, represents an emerging application trend, aligning with the broader advancements in vehicle technologies.

Recent Developments

In May 2022, NSG Group announced plans to integrate its automotive glass business in China with SYP Kangqiao Autoglass Co., Ltd., a leading Chinese automotive glass manufacturer. This strategic move is aimed at bolstering NSG Group’s capacity to meet the growing demands of Chinese automobile manufacturers, reinforcing its position in the market.
In March 2022, LKQ Corporation finalized an agreement with One Equity Partners to sell PGW Auto Glass, a prominent distributor of aftermarket glass in North America. With an extensive network of over 100 distribution branches and a customer base exceeding 27,000 in the U.S. and Canada, PGW Auto Glass utilizes a fleet of 500 vehicles to efficiently deliver a range of automotive products, including windshields and tempered glass, to over 9,000 installation customers.
In March 2019, North American automotive-glass manufacturer Vitro committed a significant investment of USD 60 million to advance cutting-edge technologies. This strategic investment, focused on the North American market, aimed to reinforce Vitro’s position as a premier supplier to original equipment manufacturers (OEMs) and aftermarket customers, showcasing the company’s commitment to innovation and market leadership.