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Real Estate News Releases
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(EstateNewsWire.com, August 09, 2018 ) According to estimates the East Africa Flat Glass Market from building and construction application during 2017 was valued at $115 million. Recently at East Africa BUILD, the East Africa International building materials, construction equipment, machinery and products Trade Exhibition, investors were urged to expand their presence and network in the region while Governments and Trade Associations were working towards luring international investors. With the number of construction projects having gone up by more than 60% between 2016 and 2017, the East Africa flat glass market is expected to register appreciable growth at it strives to fulfill the increased demand for doors, windows, floors, partitions, bathrooms and stairs.
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The East Africa flat glass market has received a surge of interest from the latest development in the automotive industry wherein Nissan Motor Co. Ltd. announced its plans to start a vehicle assembly initiative in Kenya. It is indeed a huge step in the Kenyan government’s plans to develop a regional automotive manufacturing hub in the country which is the biggest economy of East Africa. Other noted automakers such as PSA Peugeot, Volkswagen AG and CNH Industrial NV have also seemingly announced plans to start an assembly line in Kenya. This will apparently not only cut vehicle costs for customers in the rapidly growing economies of the continent but also create a lucrative growth avenue for the East Africa flat glass market as the automotive industry is one of the biggest end users of flat glass.
With lowered costs of vehicles, the scope for the automotive industry will also be widened in the African countries where ownership per thousand people is about a quarter of the global average. Increased affordability will further add to the growth rate of the East Africa flat glass market, the size of which was estimated to be $145 million in 2017.
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The rise of income levels and emerging middle class in East Africa have contributed towards the growth of the automotive industry as well. Automakers are adopting a long-term vision in East Africa due to its positive economic outlook. In 2018, automotive manufacturing giant Volkswagen announced the set-up of a new vehicle assembly plant in Rwanda. Imported second hand cars make for a bulk of the automobiles used in East Africa and according to Volkswagen, the $20 million investment in the new plant will facilitate the offer of new cars and also help in launching a ride sharing service in a country where Uber has not yet set its mark. Therefore, the East Africa flat glass market will stand to gain heavily from the upcoming automotive industry in the region that creates an expansive demand for tempered glass and other safety glasses commonly used in automobiles.
The combination of a rapidly progressing economy, emergence of a middle class with more disposable income, and cooperation from governments and trade bodies have been noted in almost all of the countries that constitute East Africa. While on one hand this has attracted investors to focus and spend more on property and building construction for residential and commercial purposes, on the other hand, notable automakers liked Volkswagen have pledged to change Africa’s image in the global automotive space. Driven by the extensive product demand in the region’s automotive and construction sectors, East Africa flat glass market size is anticipated to surpass $235 million by 2024.
Global Market Insights, Inc.
Arun Hegde
1-888-689-0688
sales@gminsights.com
Source: EmailWire.Com 
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