Automotive Glass Market Share

APAC Market Forecast

Automotive glass market in Asia Pacific is predicted to account for the largest share of 42% by 2037 impelled by the rising personal disposable income. More than 20% of the over 1,000 respondents in urban India showed a net rise in disposable income which together with the rise of the middle class, will transform India into a consumer powerhouse, and will lead to increased expenditure on leisure, entertainment, and a variety of vehicles including cars, and other automobiles. As a result, the region has the majority of car-owning households who also prefer to change their vehicles after only 5 years of ownership. This has led to an increase in demand for automotive glass as it is critical to a vehicle's ability to provide safety to the drivers. According to estimates, India's household disposable income is expected to reach over USD 2 trillion in 2023.

European Market Statistics

The Europe automotive glass market is estimated to be the second largest, during the forecast period led by the presence stringent vehicle safety regulations. The European Commission's work on motor vehicle safety focuses on occupant safety and also includes severe measures to ensure that mass-produced vehicles maintain the same environmental performance. For instance, according to the EU's updated safety regulations all new vehicles sold in the EU must comply with the upgraded General Safety Regulations (GSR) beginning in 2024. This may drive the demand for automotive glass in the region as it is used in the side and rear windows of automobiles and is least likely to break or fracture.