Energy-efficient windows are increasingly gaining popularity among consumers owing to the increasing need to reduce noise pollution, heat transfer, offer a range of environmental benefits, and others. The use of high-quality energy-efficient windows also offers benefits such as money savings while reducing carbon footprints, better insulation which improves comfort and temperature control, protection from ultraviolet rays, certified performance, reduced maintenance needs, and others.
According to a market report published by Bizwit Research & Consulting, LLP, the global energy-efficient window market is valued at approximately USD 12.74 billion in 2020 and is anticipated to grow with a healthy growth rate of nearly 7.30% over the forecast period 2021-2027.
Optimal energy-saving alternatives, increasing government attempts to encourage the use of energy-efficient windows, and the growing construction industry is some of the factors that are expected to significantly contribute to the growth of the global energy-efficient window market during the forecast period. In addition, increasing support for energy management in buildings from the public and private sectors provides lucrative growth opportunities to the market. However, higher costs and lack of awareness pertaining to energy-efficient windows are expected to hamper the market growth during the forecast years.
The energy-efficient windows find applications in both residential as well as commercial constructions. Hence, with the growth in the construction sector, the market is expected to witness growth. According to Statista, the total spending in the construction industry across the globe is expected to increase from USD 12 trillion in 2019 to approximately 17.1 trillion by 2030. This includes different building projects in real estate such as residential as well as commercial sectors, and in industrial or infrastructure structures. Such growth in the spending in the construction industry across the globe is expected to fuel developments in the sector and hence increase the demand as well as the adoption of energy-efficient windows.
Global Energy-Efficient Window Market Size study, by Glazing Type (Double Glazed, Triple Glazed, and Others), by End-use Sector (Non-Residential, and Residential), By Component (Glass, Frame, and Hardware), By Application (New Construction, and Renovation & Reconstruction), and Regional Forecasts 2021-2027
The total market revenue is calculated on the basis of revenue generated through the sales of the energy-efficient windows. However, any revenue generated through the resale, maintenance, and repair of the energy-efficient windows is excluded from the report. Major companies covered under the report include Saint-Gobain S.A., Asahi Glass Co. Ltd., YKK AP, Inc., Jeld-Wen Holdings, Inc., Nippon Sheet Glass Co. Ltd., Builders Firstsource, Inc., Schott AG, Ply Gem Holdings, Inc., Central Glass Co., Ltd., and Associated Materials LLC. Other popular regional players across various countries are also considered for revenue calculation.
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