The Latin America, Middle East and Africa Automotive Glass Market would witness market growth of 10.0% CAGR during the forecast period (2023-2029).
The rise in fuel prices and the stabilization of the cost of glass materials like lime, soda ash, and oxides of magnesium, potassium, and aluminium have been major factors in the growth of cost-effective glass for automobiles. In addition, the market is expanding due to increased demand for automobiles in the transportation & logistics sectors and efforts to improve vehicle aerodynamics in response to safety regulations.
Additionally, a rise in the sales of crossovers and SUVs, along with rising disposable income, especially in developing nations, are driving the growth of this market. With an emphasis on pollution control and stringent environmental regulations, the production of hybrid & electric vehicles is improving, fostering market expansion. Consumers and manufacturers are expected to look for more ecologically friendly cars to comply with rules, placing importance on hybrid & electric vehicles, which are now driving the market.
The automotive sector in the LAMEA region represents one of the main bases of the UAE's economic growth. The industry is crucial to the economy as the country looks to the future and is currently one of the automotive sectors in the Gulf Cooperation Council (GCC). The UAE government is investing heavily in the expansion of the automotive sector, demonstrating its desire to use this industry to support the expansion of the country's economy. Dubai is anticipated to become the primary automotive hub for the area as it enters a new phase of expansion, expanding through the export and re-export of vehicles to the Middle East. Luxury cars are status symbols in high society in the United Arab Emirates. These factors are contributing to the regional market's growth during the projection period.
The Brazil market dominated the LAMEA Automotive Glass Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $559.5 million by 2029. The Argentina market is experiencing a CAGR of 10.6% during (2023 - 2029). Additionally, The UAE market would exhibit a CAGR of 9.7% during (2023 - 2029).
Based on Type, the market is segmented into Laminated and Tempered. Based on Vehicle Type, the market is segmented into Passenger Cars and Commercial Vehicles. Based on End User, the market is segmented into Original Equipment Manufacturer and Aftermarket. Based on Application, the market is segmented into Windshield, Sidelite, Sunroof and Backlite. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Automotive Glass Market is Projected to reach USD 27.4 Billion by 2029, at a CAGR of 6.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AGC, Inc., Corning Incorporated, Saint-Gobain Group, Magna International, Inc., Nippon Sheet Glass Co., Ltd., Xinyi Glass Holdings Limited, Fuyao Glass Industry Group Co., Ltd., Guardian Industries Corporation (Koch Industries), Webasto Group and Taiwan Glass Ind. Corp.
By Type
By Vehicle Type
By End User
By Application
By Country
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