A recently released report on the automotive glass market suggests strong and steady growth among the industry through the next half-decade.
The next half-decade looks promising for the automotive glass market, according to market research firm Technavio.
Market research firm Technavio projects the global automotive glass market—from a manufacturing perspective—will increase by an average of close to 4% year-over-year over the next five years and will be valued at over $2.8 billion in 2026.
While a sharp decline in automobile production and sales will challenge the market, increased demand for premium vehicles and sunroofs, as well as the increasing popularity of innovative automotive glass, will drive growth, according to the report.
Nearly two-thirds of growth will come from the Asia Pacific region, led by China, Japan and India. “The economic development across the region has boosted the spending on infrastructure and industrial development and has also increased disposable income,” a summary of the report reads.
Technavio anticipates significant growth in the passenger car segment in particular.
