The latest report by IMARC Group, titled “Energy Efficient Windows Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global energy-efficient windows market size reached US$ 18,121 Million in 2021. Energy-efficient windows, also known as energy-saving windows, are designed to provide optimal protection against heat loss and gain from the external environment. Some commonly used energy-efficient windows include double glazing, triple glazing, low emissivity (low-E) coatings, and argon or krypton gas filling variants. They prevent the escape of conditioned air from the room they are installed in, thereby reducing energy usage. They help maintain the optimum level of light, warmth, and ventilation in the surrounding space. They also assist in eliminating the transfer of heat in both directions, cutting electricity bills, and lowering carbon footprint. In recent years, energy-efficient windows have gained immense popularity across residential and commercial sectors as they offer enhanced comfort and minimize the usage of artificial cooling and heating in buildings.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Energy Efficient Windows Market Trends:
Significant growth in the building and construction industry represents the primary factor driving the market growth. Besides this, the growing need for efficient ventilation systems to minimize energy consumption and air conditioning costs has augmented the product demand. In addition, there has been a substantial shift toward energy-efficient windows as they help reduce power wastage by cutting off the air outlet from the room. Furthermore, due to the rising environmental concerns, governments of various countries are taking favorable initiatives to reduce the carbon footprint of households by introducing programs and subsidies for replacing old windows and furnaces that lead to energy wastage. In line with this, extensive investments in infrastructure development and the increasing popularity of green building concepts have accelerated the adoption of energy-efficient windows. Apart from this, recent product innovations, such as the launch of advanced windows integrated with artificial intelligence (AI) and the internet of things (IoT), have propelled the market growth. Other factors, including the surging awareness regarding the energy efficiency of buildings, shifting focus toward sustainable development, rising consumer spending on home renovation, and inflating electricity prices, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 29,198 Million by 2027, growing at a CAGR of 8.37% during 2022-2027.
- Based on the operating type, the market has been divided into awning, casement, double-hung, fixed, hopper, and sliding windows. Amongst these, awning windows account for the largest market share.
- On the basis of the glazing type, the market has been segregated into double, triple, and other glazing windows. At present, double-glazing windows hold the majority of the overall market share.
- The market has been classified based on the component into frame, glass, and hardware. Currently, frame exhibits a clear dominance in the market.
- Based on the end use, the market has been bifurcated into residential and non-residential sectors, wherein the residential sector dominates the market.
- Region-wise, North America (the United States and Canada) holds the leading position in the market. Other major regions include Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Andersen Corporation, Builders Firstsource Inc., Deceuninck NV, JELD-WEN Inc., Marvin Windows Inc., Masco Corporation, PGT Innovations Inc., Ply Gem Residential Solutions, Schott AG, The REHAU Group, VKR Holding A/S, and YKK Corporation.
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