New York (US), June 15, 2023 (GLOBE NEWSWIRE) -- Energy-Efficient Windows Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Energy-Efficient Window Market By Glazing Type, Component Type, Application, and Region - Forecast till 2030”, the energy-efficient windows market will increase from USD 11.46 billion in 2022 to USD 21.38 billion by 2030, with a CAGR of 8.10% between 2022 and 2030.
Market Scope
Energy-efficient windows enable artificial heating and cooling to be used less frequently in a building or residence. The glass or glazing, the frame, and any additional hardware are the three major components that make up these windows. These elements effectively prevent both heat damage and heat gain from the outside atmosphere. lowering the energy consumption of the house and the structure. Two factors control the energy efficiency of windows. Both the solar heat gain coefficient (SHGC), which determines how much solar heat is let in through the window and the U-factor, which determines how well the window insulates, are examples of these. Every energy-efficient window product in the United States receives certification from the National Fenestration Rating Council based on SHGC and U-factor, granting it the Energy Star Rating.
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Market Competitive Landscape:
The major companies in the energy-efficient windows industry are
- Saint Gobain S.A. (France)
- Asahi Glass Co. Ltd. (Japan)
- Nippon Sheet Glass Co. Ltd. (Japan)
- Central Glass Co. Ltd. (Japan)
- Masco Corporation (U.S.)
- Builders First Source Inc. (U.S.)
- Jeld-Wen Holding Inc. (U.S.)
- YKK AP Inc. (Japan)
- Ply Gem Holdings Inc. (U.S.)
- Deceuninck NV (Belgium)
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size | USD 21.38 billion |
| CAGR | 8.10% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Glazing Type, Component Type, Application and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Key Market Drivers | Rapid growth in construction industry Increasing popularity of energy-efficient windows |
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There are many players in the market who provide a wide range of product possibilities, which fuels heated rivalry. There are several important participants in industrialized economies like those in North America, Europe, and several parts of Asia Pacific, including Australia. Leading companies in the global sector continue to have a high degree of forward and backward integration, which has boosted rivalry and competition and made it difficult for new players to enter.
Market USP Covered:
Market Drivers:
The main driver propelling the expansion of the global market for energy-efficient windows is an increase in construction around the globe, together with the adoption of green buildings and a rise in demand for energy-efficient building infrastructure. Administration programs including energy efficient building, zero energy building, and others are supporting the global construction industry's huge expansion across the globe. For instance, the United States government has established a new energy standard called "Energy Star" that directs implementation in the direction of reducing power use. Lighting, refrigeration, space cooling, space heating, ventilation, and water heating account for the bulk of a building's use. To decrease carbon footprints, the government has established financial incentives for energy-efficient windows. As a result, Energy Star contributes significantly to over 80% of total window sales.
The progressive growth in population, along with an increased reliance on electric appliances, artificial air conditioning, and other technologies, has boosted the demand for energy-efficient technology. The rising awareness of environmental sustainability brought on by the global acknowledgement of climate change has mandated that governments create legislation for minimizing the carbon footprint of homes. In order to accomplish these goals, governments typically offer a variety of incentives for the replacement of outdated windows and heaters, which reduce energy consumption. Such motivation increases the need for energy-efficient windows to replace old ones, which in turn fuels the market's growth.
As a result of consumers' improved living standards and the extreme temperature differences between different zones, air conditioning and heating systems are now required in both residential and commercial structures. For example, more than 90% of residences in Greece have air conditioning. Additional cooling necessitates more energy, which raises greenhouse gas emissions. Emissions will decrease and electricity usage will decrease as a result of these products' ability to control room temperature.
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Market Restraints:
Energy-efficient windows have a number of benefits, but several issues limit and impede the market's overall growth. The primary factor restricting market expansion is the high initial cost of energy-efficient windows. Energy-efficient windows cost more to produce because they have more intricate components and glass coatings than standard windows. These windows must also be installed by professional workers, which raises the cost of installation.
COVID 19 Analysis
The COVID-19 pandemic affected the glass market differently depending on the glass subsector. The limitations led to a halt in remodeling and construction projects, which had a direct impact on the market for energy-efficient windows. In addition, many households' incomes were affected by the lockout, which limited their purchasing power. COVID-19 had a negative impact on the construction sector. Limitations on non-essential work almost brought the industry to a complete halt globally. But it is projected that numerous building projects, including new and continuing projects, contract value, and worksite productivity will increase in the wake of the Covid-19 pandemic.
Market Segmentation
By Glazing Type
The segmentation of the energy-efficient windows market, depending on the glazing type, covers triple low-e and double-glazed. In terms of the income generated by energy-efficient windows, the Double-Glazed segment retained the largest share in 2021 due to an increase in development around the world and the adoption of green buildings. A double-glazed market segment is anticipated to expand quickly over the course of the forecast period due to increased demand from both the residential and commercial sectors. Both newly constructed structures and restored ones employ these windows. The market for double-glazed windows in the energy-efficient window sector is growing as a result of double-glazed windows' significant reductions in heat loss and promotion of energy savings.
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By Component
The market for energy-efficient windows has been divided into glass, frames, and hardware, in terms of components. In 2021, the glass industry had the largest revenue share in the market for energy-efficient windows.
By Application
The residential, commercial, and industrial sectors are prime applications of energy-efficient windows. In Europe, the energy-efficient glass market is anticipated to experience phenomenal growth as residential building becomes more energy-efficient.
Regional Insights
The market for energy-efficient windows in North America touched USD 3.80 billion in 2021 and is projected to grow at a CAGR of 2.51% from 2016 to 2021. This is explained by the expansion of industrialization, particularly in the US, Canada, and Mexico, as well as the aging of the people in the region.
From 2022 to 2030, the market for energy-efficient windows in the Asia-Pacific region is anticipated to expand at a CAGR of 3.78%. This is brought on by the rising prevalence of osteoarthritis and degenerative disc disease, the burgeoning medical tourism market, and the rising price of healthcare. Additionally, the Indian market for energy-efficient windows in the Asia-Pacific region was expanding at the fastest rate while the Chinese market for such windows had the biggest market share.
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