Many of the changes occurring in the automotive market right this moment, together with tightened credit markets in a capital-intensive business and increased authorities involvement are the latest global challenges. The Automotive Business in the Philippines has been a thriving trade in the country during the last 5 years. Throughout the Asia Pacific Area, the Philippines ranked ninth among the many countries with the very best passenger cars sold , with approximately 273.4 thousand automobiles in 2019. On common, 25 % of local households owned a motorcycle or a tricycle, and 5.9 percent had a automotive, jeepney or a van as of 2018. Moreover, native customers spend an average of between one to 1.3 million Philippine pesos on a motorized vehicle.
Future Market Insights has announced the addition of the “2020 Analysis and Review: Automotive Glass Market by Glass Type – Laminated Glass and Tempered Glass for 2020 – 2030” report to their offering.
The automotive glass market is likely to surpass US$ 16.8 billion through 2030, according to a new research study by Future Market Insights.
According to the study, high strength and lower price structure drives the adoption rate of the automotive glass but inadequate standardization continue to hinder the market growth prospects.
“Car companies are incorporating glass canopies while also fuelling the use of automotive glass in rear view mirrors and electronic sensors,” says the FMI Analyst.
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Automotive Glass Market – Key Highlights
Tempered automotive glass accounts for 65% of revenue share.
Electric section will remain lucrative in the automotive glass market during the assessment period.
Coventry is to seek planning permission to build an electric car battery plant, known as a gigafactory, boosting ambitions to keep automotive production at the heart of the West Midlands’ region.
Coventry City Council will submit an outline blueprint in partnership with the operators of Coventry Airport later this year, in a move which the project’s backers say could attract £2 billion in investment and create thousands of jobs.
If plans are passed, the site could be operational by 2025, though it would need investment from the private sector.
Local government sources say discussions are “well under way with a number of potential suppliers”, including battery suppliers and automotive manufacturers, to join the project.
It follows an announcement in December that construction of a £2.6 billion gigafactory – the UK’s first