Energy-Efficient Windows Market 2022 - Market Size &
Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030
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Energy-efficient windows are advanced ventilation systems that aid in the
protection from heat loss & gain to minimize the energy consumption of the
entire building/complex. They prohibit the escape of conditioned air from the
buildings, which reduces the transfer of heat in both directions. These windows
comprise three main components: glass or glazing, frame, and other hardware and
can operate in fixed, hopper, awning, casement, double-hung, and sliding
formats.
Energy-efficient windows also deflect ultraviolet (UV) rays, offer noise
reduction capabilities, aid in maintaining an optimum level of light,
ventilation, warmth, and add aesthetic beauty to the room. Made available in
double glazing, triple glazing types, with low emissivity (low-E) coating, and krypton
or argon gas filling between the glazing, these windows have been proven to protect
up to 4.0 times better than other conventional windows against heat and cold.
Growth Drivers:
The shifting
consumer preference for energy-efficient windows; the rising awareness to
minimize carbon footprints; the increasing awareness regarding the energy
efficiency of buildings coupled with the high environmental consciousness among
people; the burgeoning global demand for energy conservation; the growing
pressure from international and government bodies to minimize annual energy
consumption and carbon footprints; the rapidly expanding construction industry
worldwide; the escalating technological advancements, including the launch of
innovative windows incorporated with the Internet of Things (IoT) and
artificial intelligence (AI) solutions are the primary factors driving the
growth of the global energy-efficient windows market.
Additionally,
the last few years have witnessed a colossal rise in the number of government-based
initiatives and regulations focused on reducing households' power consumption
and carbon footprint. Governments across different regions are offering various
kinds of subsidies for replacing old windows and furnaces, which result in massive
wastage of energy. They are also rolling out initiatives such as zero energy
building, energy-efficient building, and others. These supportive strategies by
governments across major regions around the globe propel the demand for energy-efficient
windows as replacement for old windows and boost the market's overall growth.
Moreover, the
population base is growing at a rapid rate across the globe. This is creating
massive growth in the demand for electricity because people's dependence on
electric appliances and artificial air conditioning for various purposes is
increased. As a result of this increased dependence, the overall cost, and
energy consumption rises. Energy-efficient
windows aid in decreasing the wastage of electricity consumption and in the reduction
of energy and air conditioning costs. This leads to their enhanced adoption,
which in turn fuels the overall market capitalization of the energy-efficient
windows market.
Furthermore,
other factors such as the improving living standards of people; the increasing
need for heating systems and air conditioning in residential and commercial
buildings due to the elevating temperatures; the growing industrialization and
commercialization, and the proliferating adoption of green building concepts
across the globe are expected to further augment the growth of the global
energy-efficient windows market during the forecast period.
However,
factors such as the high initial cost of energy-efficient windows and the
dearth of awareness among people regarding these windows are expected to hinder
the growth of this market to some extent during the forecast period.
Energy-Efficient Windows Market Segmentation:
By Glazing Type:
·
Double Glazed
·
Triple Glazed
·
Others
By End-use Sector:
·
Non-residential
·
Residential
By Operating Type:
·
Awning
·
Casement
·
Double-hung
·
Fixed
·
Hopper
·
Sliding
By Component:
·
Glass
·
Frame
·
Hardware
By Application:
·
New Construction
·
Renovation & Reconstruction
By Region:
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East and Africa
Based on glazing type, the
double glazed segment accounted for a 65.0% market share and dominated the global
energy-efficient windows market in 2021. The segment is expected to retain its
dominance in the market during the forecast period of 2022-2030. The increasing
usage of double glazed energy-efficient windows in the renovation &
reconstruction project; the rising need for maintaining room temperature in
residential & commercial buildings by preventing outside heat flows are the
major factors driving the segment’s growth. However, the triple glazed segment
is projected to witness the highest growth at a CAGR of 11.5% during the
forecast period of 2022-2030. Factors such as the growing number of initiatives
to curtail energy consumption and the escalating R&D spending are
attributed to the high growth of this particular segment.
Based on application, the renovation & reconstruction segment held the
largest share of the global energy-efficient windows market in 2021. The segment
is projected to maintain its lead in the market during the forecast period of
2022-2030. The growing efforts
from developed nations to reduce their carbon footprint; and the surging number
of renovation activities across the globe owing to the rapidly enhancing living
standards of people are major factors contributing to the growth of this
segment.
Based on end-user sector, the residential segment
acquired the largest share of the global energy-efficient windows market in
2021. This trend is estimated to continue over the forecast period of
2022-2030. The segment is predicted to thrive
during the forecast period on account of the growing home improvement
activities & residential construction projects and the burgeoning awareness
among people regarding energy conservation. However, the non-residential
segment is expected to register the highest growth in the market during the
forecast period.
Based on component, the frame segment led the global
energy-efficient windows market in 2021. The segment is anticipated to continue
with this trend in the next few years. However, the glass segment is estimated
to attain the highest CAGR in the market during the forecast period due to escalating
advancements in energy-efficient glass products across the globe.
Regional Outlook:
The North American region commanded the global
energy-efficient windows market in 2021, followed by Europe. The region is
predicted to remain dominant throughout the forecast period of 2022-2030.
The growing
adoption of energy-efficient windows; the presence of well-established market
players; the increasing financial support from governments of various countries
to encourage the adoption of energy-efficient products; the rapid recovery of
the construction industry; the high R&D investment; and the surging
emphasis on energy efficiency and minimizing carbon emissions in the buildings
sector are factors majorly ascribed to the large share of this region. The U.S.,
Canada and Mexico are the leading contributors to the growth of the market in
the region.
The Asia Pacific region is poised to emerge as the
fastest-growing regional market for energy-efficient windows during the
forecast period. It is expected to expand at a CAGR of 12.0% during the
forecast period of 2022-2030. The snowballing acceptance of energy-efficient
windows in the non-residential sector; the fast-paced expansion of the
construction industry across major countries of the region; the increasing
R&D activities for enhancing efficiency and reducing power consumption; the
presence of various emerging nations, and the rising investments in the real
estate sector are the major factors attributed to the high growth of the Asia
Pacific region. India, China, and Japan stand as the major contributors to the
growth of the market in the region.
The European region is expected to witness robust
growth in the market during the forecast period due to the region's rising
renovation activities and the high adoption of energy-efficient windows in the
region. The European Union’s commitment to reduce over 300.0 million tons of
CO2 emissions annually is also estimated to bode well for the growth of the
energy-efficient windows market in the region.
Key Companies in Energy-Efficient Windows Market:
·
VKR Holding A/S
·
Andersen Corporation
·
Central Glass Co. Ltd.
·
Associated Materials LLC
·
China Glass Holdings Ltd.
·
Marvin
·
Masco Corporation
·
YKK AP Inc.
·
Jeld-Wen Holding Inc.
·
Builders FirstSource Inc.
·
Deceuninck NV
·
PGT Inc.
·
Apogee Enterprises Inc.
·
Schott AG
·
PGT Innovations Inc.
·
Ply Gem Residential Solutions
·
REHAU Incorporated
· Other Players