The global Automotive Windshield Market is projected to grow at a CAGR of 6.28% from 2017 to 2025, to reach USD 23.24 billion by 2025.
The automotive industry, one of the key contributors to the overall GDP of the world, is growing significantly over the years. As the demand for vehicles is growing, the demand for automotive components is also increasing significantly. Also, new vehicle model launches and increasing demand for premium and luxury segment cars have increased the demand for exterior components such as a windshield. The automotive windshield provides an efficient aerodynamic design, clear visibility, and protection from debris, unwanted particles, ultraviolet (UV) rays, and harmful radiation. A key innovation in the field of the automotive windshield is the smart windshield. Ongoing R&D in the field of smart windshield technology has prompted investments by private players as well as various governments. Due to their advantages, smart windshield technologies such as Head-Up Displays (HUDs) and augmented reality are now used in diverse applications. The market for the smart windshield is therefore expected to witness growth. Consumers nowadays are more aware of the safety and comfort features that enhance the driving and the overall journey experience. Technologies, such as smart displays and driver assistance functions, are now getting incorporated in the mid-segment and economy vehicles. Growing demand and increasing competition among OEMs have resulted in the reduced prices of basic display panels such as LCD and TFT-LCD display panels, HUDs, and smaller displays. The market for these latest display technologies on the windshield is driven by increased awareness of road and vehicle safety. Corning Incorporated (US) has already started selling iPhone’s glass for windshields and in-car entertainment systems. Whereas automotive makers such as BMW AG (Germany), Hyundai Motor Co. (South Korea), and Toyota Motor Corp (Japan) offer basic HUDs near windshields in their models. It shows information such as vehicle’s speed and location of vehicles in a car’s blind spot. Suppliers of HUDs are promoting it as a safety tool.
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The global automotive windshield market by glass type is segmented into two categories, namely, laminated glass and tempered glass. The laminated glass segment is estimated to grow at the highest CAGR during the forecast period. The growth of the laminated glass segment is expected to be driven by increasing vehicles production, concerns of vehicle safety security, and increasing use of solar reflective windshields and glazing on the windshield.
The global automotive windshield market is segmented into front windshield and rear windshield. As of 2017, the front windshield segment accounts for the largest share of the windshield market for automotive and is anticipated to dominate the market during the forecast period. In terms of growth, the rear windshield segment is expected to grow at the highest CAGR followed by the front windshield segment.
The automotive windshield market for automotive, by vehicle type, is segmented into Passenger Car (PC), Light Commercial Vehicles (LCVs) and Heavy Commercial Vehicles (HCVs). The passenger car segment is estimated to account for the largest share of the automotive windshield market and is anticipated to remain the largest market during the forecast period. In terms of growth, the passenger car segment is estimated to be the fastest growing market for automotive windshields followed by LCVs and HCVs. Increasing application of smart windshield and increase in vehicle production are likely to drive the passenger car segment.
The automotive windshield market for automotive, by electric vehicle type, is segmented into the Hybrid Electric Vehicle (HEV), Battery Electric Vehicle (BEV), and Plug-In Hybrid Electric Vehicle (PHEV). The HEV segment is estimated to account for the largest share of the automotive windshield market by EV type and is anticipated to remain the largest market during the forecast period. In terms of growth, the BEV is estimated to be the fastest growing market for automotive windshields followed by PHEV and HEV segments.
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