The Global Automotive Smart Window Market was worth USD 3.06 billion in 2022 and is anticipated to reach a valuation of USD 5.91 billion by 2028 and is predicted to register a CAGR of 11.81% during 2023-2028.
An automatic smart window in an automobile is a piece of glass that can be turned on and off intelligently. Smart Glass uses switchable films made from a material known as a Suspended Particle Device, which is a tinted material, to provide shade. A typical tungsten oxide battery is composed of tungsten oxide atoms and a liquid electrolyte, which typically contains lithium ion ions. The driver will greatly benefit because the smart glass absorbs heat, and thus it will save him a significant amount of money on his air conditioning costs. The smart window will also prevent them from experiencing any discomfort as a result of the sun while traveling, as it rejects a large spectrum of light wavelengths. As a result, 99.0 percent of ultraviolet light is blocked, preventing the fabric from fading.
When a small electric current is passed through the film, microscopic particles combine to form a window shade that blocks up to 99.5 percent of light. When the current is turned off, the particles return to their original position, restoring transparency to the window glass. The film has been applied to the inside of the window.
Market Drivers:
The growing demand for premium vehicles, as well as the use of various technologies such as electrochromic, tungsten-based, polymer-dispersed liquid devices, suspended particle devices, and others, are driving the market for automotive smart windows. Customers are increasingly turning to technology for more efficient solutions to their problems, which is why switchable smart windows are more in demand than ever. Although 99.9% of the light is blocked, the driver can still operate the vehicle safely. Using smart windows, which vary their luminous and solar transmission dynamically in response to changing climatic conditions, automobiles can be made more energy efficient. These major factors are also driving the growth of the market.
Market Restraints:
The high cost of smart windows and their availability in the premium car segment are the key factors hampering the growth of the Automotive Smart window market.
Market Key Developments:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022 – 2028 |
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Base Year |
2022 |
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Forecast Period |
2023 - 2028 |
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CAGR |
11.81% |
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Segments Covered |
By Technology, Type, Vehicle Type, and Region. |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Hitachi Chemicals, Research Frontiers, PPG Industries, AGC Inc, Corning Corporate, Gentex Corporation, RavenBrick LLC, Pleotint LLC, View Inc, Saint Gobain, and Others. |
Market Segmentation:
Electrochromics are leading the technology segment and are expected to grow at a high rate during the forecasted period. They provide various benefits over other types of technologies to the passengers and drivers by quickly achieving a comfortable level and reducing fuel consumption. Also, keeping the interior of the car cooler by controlling EC windows increases the fuel economy.
At present, OLED glass in the type segment occupies the largest share of the market and is projected to lead in the forecasted period. OLED glass ensures a clear view of the outside, allowing drivers, passengers, and pedestrians to see road signs, pedestrians, and traffic signals. However, the self-repairing segment is expected to grow at the highest CAGR during the forecasted period.
Passenger cars are leading the vehicle segment and are expected to grow during the forecasted period. Modern lifestyles and the adoption of new technology lead to rapid growth in the demand for luxury and premium vehicles. Thus, the market for automotive smart windows is experiencing a significant expansion as a result.
North America led the automotive smart window market in 2020 and is expected to grow at a significant growth rate during the forecast period. This is because luxury cars, as well as advanced convenience features, are becoming increasingly popular. It is significant to note that one of the major factors driving the growth of this market in this region is the increase in the number of passenger cars sold.
Asia-Pacific will grow at the highest rate during the forecast period because it is the largest market for luxury vehicles and has the highest demand for luxury vehicles. As a result of the increasing demand for luxury cars in China, the country leads the region.
Market Key Players:
Frequently Asked Questions
The market is expected to grow at a rate of 20 % CAGR during the forecasted period (2021-2027).
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