Market Trends of Middle East and Africa Automotive Aftermarket Glass Industry
This section covers the major market trends shaping the MEA Automotive Aftermarket Glass Market according to our research experts:
Increasing Application of Glass in Automobiles
Increasing usage of sunroof glass, particularly in high-end vehicles, is anticipated to have a positive impact on the growth of the automotive glass market. Nowadays, consumers are showing preference toward a sunroof in the car, which has lead to an increase in the utilization of glass. Installation of the sunroof is now not only limited to the luxury car segment, but has also been introduced to the other segments, by car manufacturers, like Honda and Toyota. In addition, advancements in vehicle design have led to an increase in the size of the windshield and side windows, thereby leading to the overall development of the industry.
Smart glass has been forecast as the future of the automotive industry. Most of the research has been directed toward improving and making smart glass applicable to mainstream vehicles. It can be used to provide a head-up display in the automobiles, just like in the glass cockpit of a helicopter. This makes accessibility to all the controls much more comfortable, and also enhances the ambiance of the vehicle. Manufacturers, like Mercedes and Volvo, are putting in a lot of effort to make this into a reality, in automobiles.
Increasing Demand for Used Car Sales
The region has been witnessing rising demand for used cars, owing to factors, such as lower vehicle price inflation, people leaving the country, financials issues being faced by consumers, and disposing of pre-owned vehicles. In the United Arab Emirates, in 2018, ~15% of consumers sold their cars for financial reasons, a number that increased by 63% from 2016. The number of people planning to purchase another car after selling the one they own, dropped by 18%. In South Africa, better economic conditions, political stability, lower interest rates, and reducing petrol prices are expected to increase the demand for used cars in the country.
The rise in demand for sales of used cars is expected to boost the demand for aftermarket glass market in the automotive industry. Owing to extreme heat and high temperature, the demand for laminated glass may increase.
