New York, United States , Nov. 28, 2023 (GLOBE NEWSWIRE) -- The Global Energy-Efficient Window Market Size is to Grow from USD 16.3 Billion in 2022 to USD 34.4 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.8% during the projected period.
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An energy-efficient window helps to reduce the use of artificial heating and cooling in a building. Windows that insulate against heat and cold four times better than normal windows have been created possible by technological breakthroughs in the previous 25 years. The burden exerted on heating and cooling systems as well as their operational expenses are decreased by increased insulation in energy-efficient windows. Energy-efficient glass windows offer outstanding thermal comfort to any space because they can maintain appropriate interior temperatures. A variety of materials and designs are available for energy-efficient windows. A window's energy efficiency is determined by how efficiently these components keep heat from escaping, how much light can flow through the glass, and how little air is allowed to enter the space. In energy-efficient windows, two or three glass panes are bonded together and encased in a frame made of uPVC, wood, or another material. The spaces between the glass panes are filled with air or an inert gas like argon. A sealed container contains the gas or air. The idea of a "smart city" has increased demand for energy-efficient products, which is propelling the market for energy-efficient windows.
COVID 19 Impact
The COVID-19 epidemic had a significant impact on the global manufacturing sector. Many manufacturers were forced to temporarily halt production to adhere to the lockdowns that the authorities had ordered. Construction projects were delayed and auto manufacturing was stopped. The sector started to recover in the second half of 2020, even though the US wasn't immune to these challenges. Due to the perception that construction was a necessary service, investment in construction increased in the US. Particularly, the volume of residential construction has increased. a report from the US Census Bureau, there were 6.7% more new private house projects in 2019; this trend is expected to continue in the post-pandemic period. Additionally, flat glass companies closed certain locations and employed home-office and other social distancing measures across the board to address the COVID-19 pandemic in Europe.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global Energy-Efficient Window Market Size, Share, and COVID-19 Impact Analysis, By Glazing Type (Double-Glazed, Triple-Glazed), By Component (Glass, Frame, Hardware), By Application (Residential, Commercial, Industrial), By End-Use Sector (Residential, Non-Residential), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The glazing segment dominates the market with the largest revenue share over the forecast period.
Based on type, the energy-efficient Window market is segmented into double-glazed, triple-glazed, and others. Among these, the double-glazing segment is the largest market share and the highest projected CAGR in the global energy-efficient windows market, double-glazing currently dominates the industry. the adoption of green buildings in respect to the Energy-Efficient Window market revenue. With rising demand for both the residential and commercial sectors, a double-glazed segment is expected to grow fast throughout the projection period. These windows are used in both new and renovated buildings. Double-glazed windows significantly reduce heat loss and promote energy savings, boosting the double-glazed market in the energy-efficient window industry.
The glass segment is witnessing significant CAGR growth over the forecast period.
Based on components, the energy-efficient Window market is segmented into glass, frame, hardware others. Among these, the increased awareness about climate change, and the glass segment are expected to lead the market over the projection period. The market for double-glazed windows in the energy-efficient window sector has grown as a result of double-glazed windows' significant reduction in heat loss and promotion of energy savings.
The commercial segment is expected to hold the largest share of the Energy-Efficient Window Market during the forecast period.
Based on application, the energy-efficient Window market is segmented into Residential, commercial, and industrial. Among these, the commercial sector is anticipated to hold the largest market share during the anticipated time range. Additionally, as economies expand, green buildings are becoming more and more common in the commercial construction industry. Energy-efficient window adoption, which reduces energy use and air conditioning expenses, is a key factor in the market's expansion and is predicted to increase at a CAGR of 8.10% over the forecast period.
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North America region is dominating the market over the forecast period.
North America is dominating the market share over the forecast period. Continual expenditure from the government will result in North America's economy growing at the fastest rate. The demand for energy-efficient windows in these regions would be influenced by rising real estate investments and research into various new approaches to improve efficiency and reduce power consumption. The market for energy-efficient windows in the United States is still growing at over 10% each year. Significant government support for marketing energy-efficient items has been seen in the region.
Asia-Pacific is witnessing the fastest market growth over the forecast period. The advantages of energy-efficient windows, such as improved thermal and lighting efficiency, less condensation, and reduced fading of interior furnishings, are starting to be recognized by the construction industry in this region. According to the American Council for an Energy-Efficient Economy (ACEEE), China, Japan, Australia, India, and South Korea are ranked 4, 6, 10, 11, and 12 for having the most energy-efficient economies. The government's initiatives to develop smart cities have boosted the market for energy-efficient windows in this region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Energy-Efficient Window Market include YKK AP, Inc., Builders First Source, Inc., Deceuninck NV, and PGT, Inc. Asahi Glass Co. Ltd., Nippon Sheet Glass Co. Ltd., Central Glass Co. Ltd., Masco Corporation, Builders Jeld-Wen Holding Inc., VKR Holding A/S and YKK Corporation., Andersen Corporation., Apogee
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Recent Market Developments
In January 2022, Ubiquitous Energy received a strategic investment from Andersen Corporation. The UE Power™ technology from Ubiquitous Energy is the first patented and transparent photovoltaic glass coating that harnesses solar power to generate electricity while looking almost indistinguishable from traditional windows.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Energy-Efficient Window Market based on the below-mentioned segments:
Energy-Efficient Window Market, Component Analysis
- Glass
- Frame
- Hardware
Energy-Efficient Window Market, Type Analysis
- Double Glazed
- Triple Glazed
Energy-Efficient Window Market, Application Analysis
- New Construction
- Renovation & reconstruction
Energy-Efficient Window Market, End-user Analysis
- Residential
- Non-Residential
Energy-Efficient Window Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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