Market Research Report
Europe Automotive Glass Market - Growth, Trends, and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||964814|
|Published||Content info||80 Pages
Delivery time: 2-3 business days
|Europe Automotive Glass Market - Growth, Trends, and Forecasts (2020 - 2025)|
|Published: August 1, 2020||Content info: 80 Pages||
The Europe Automotive Glass Market is projected to grow with a CAGR of more than 6% during the forecast period.
The Smart Glass will witness the highest growth in the Market
The growing demand for smart glass in high-end vehicles and now a combination of smart glass and organic light-emitting diode screen technology, which can change surfaces, go from transparent to screens and back is driving the market. The smart glass allows vehicle windows to dim or tint from transparent to opaque with the help of electricity or temperature.
The market participants are enhancing and redefining their glass control solution, constantly working on new possibilities for more comfort, safety, and energy efficiency.
For instance, in 2019, Continental announces the launch of intelligent glass control, through this technology the glass section can be dimmed at night or tinted in the daytime. Along with that windows behind the B-pillar can also be ted for privacy in the rear seats on demand.
Along with that demand for the connected vehicles over conventional vehicles has pushed vehicle manufacturers to equip the vehicles with new technologies that help them adapt to the changes. Industry players are taking different approaches to the implementation of the latest technologies. Vehicle manufacturers are launching new models with the smart glass, and number of display units. Also major automakers are introducing latest automotive glassand related technologies in theirvehiclemodels.
Germany is Projected to lead the Europe Automotive Glass Market
In terms of country, Germany is projected to hold the largest share as well as grow with the highest CAGR during the forecast period. Germany is the global hub for car manufacturing. In 2019 around 4,661 thousand passenger cars have been produced in Germany. Moreover, Europe's automotive glass market is expected to witness rapid growth, in terms of technology and procurement. The local automotive glass market participants are launching new technologies and increasing their presence in the region. For instance,
In 2018, AGC Automotive Europe launches the first neutral glass named Pure Grey. This new technology provides excellent color rendering, different from green-tinted glass which actually affects the perception of colors from inside and outside of the vehicle
Similarly, in 2019, Gauzy an Israel based material science company, along with New York's Research Frontiers announced opened a second production facility in Germany. In this facility, they will produce SPD-Smart light control film, a smart window technology, for all industries including automotive applications.
The European automotive glass market is moderately fragmented, with several global players accounting for significant amounts of shares in the market. Some of the prominent companies in the European automotive glass market are AGC Inc., Saint Gobain, and Fuyao Group. Companies are investing heavily in research and development for the innovation of new and advanced products and technologies that may be used in upcoming vehicles. For instance,