Automotive Glass Market Size to Hit USD 27.75 Billion by 2026

The global automotive glass market size is projected to reach USD 27.75 billion by 2026, exhibiting a CAGR of 6.9% during the forecast period. Robust logistics infrastructure in developed nations will be a key factor fueling the growth of this market, infers Fortune Business Insights™ in its report, titled “Automotive Glass Market Size, Share, and Industry Analysis, By Glass Type (Tempered, Laminated), By Application (Windshield, Sidelite, Backlite, Sunroof), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Electric Vehicles), and Regional Forecast, 2019-2026”. The World Bank’s biennial report ‘Connecting to Compete’ stated that the current value of the global logistics industry stands at USD 4.3 trillion. Transport logistics is a critical component of international trade as it facilitates movement of goods and requires strong infrastructure to function smoothly. This infrastructure is well-developed and well-established in developed countries of the world.

For instance, in the World Bank’s Logistic Performance Index, the top four countries of Germany, Sweden, Belgium, and Austria are from the European Union (EU) and the fifth is Japan from Asia. Efficient cross-border movement necessitates utilization of various types of vehicles and this is likely to escalate the demand for advanced automotive glass products in the forthcoming years.

Source:

https://www.fortunebusinessinsights.com/automotive-glass-market-102579