Market Research Report
Energy Efficient Windows Market by Operating Type, Glazing Type, Component, and End User: Global Opportunity Analysis and Industry Forecast, 2020-2027
|Published by||Allied Market Research||Product code||948554|
|Published||Content info||220 Pages
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|Energy Efficient Windows Market by Operating Type, Glazing Type, Component, and End User: Global Opportunity Analysis and Industry Forecast, 2020-2027|
|Published: May 1, 2020||Content info: 220 Pages||
Energy Efficient Windows Market by Operating Type (Awning, Casement, Double-hung, Fixed, Hopper, and Sliding), Glazing Type (Double Glazing, Triple Glazing, and Others), Component (Frame, Glass, and Hardware), and End User (Residential and Non-residential): Global Opportunity Analysis and Industry Forecast, 2020-2027.
The global energy efficient windows market size is expected to reach $29,023.8 million in 2027, from $15,594.0 million in 2019, growing at a CAGR of 8.1% from 2020 to 2027. Energy efficient windows constitute of double or triple paneled glazing, which is filled with air, argon, or krypton, to reduce the loss of heat from inside of the building. It minimizes the use of artificial air conditioning, by maintaining the room's temperature by avoiding outlet of air through windows. An energy efficient window mainly constitutes of a window frame, glass which may or may not be coated with special coatings such as low emissivity (low-e) coating, and other hardware components including, spacers, hinges, and others. Moreover, the energy efficiency capacity of the window is measured by two main factors-the solar heat gain coefficient (SHGC) which measures the amount of solar heat entering through the window, and U-factor which measures the insulation capacity of the window. Every energy efficient window product is certified on the basis of SHGC and U-factor, which qualifies it for the Energy Star Rating by the National Fenestration Rating Council (NFRC) of the U.S.
Energy efficient windows reduce air conditioning and energy consumption of a building by cutting off the air flow between inner and outer side of the building. The implementation of energy efficient windows can save up to 15% of the total expenditures on air conditioning per year. This, therefore, boosts the growth of the energy efficient windows market. Moreover, the increased awareness about environmental sustainability due to the recognition of climate change has led the governments to imply regulations for reducing the carbon footprint of households. To implement such measures, the governments often offer various subsidies for the replacement of old windows and furnaces, which lead to wastage of energy. Such subsidies drive the demand for energy efficient windows as replacement for the old windows, which in turn augments the growth of the energy efficient windows market. In addition, the increased demand for electricity, owing to gradual surge in population as well as rise in dependence on electric appliances, artificial air conditioning, and others boost the necessity of the energy efficient devices. Energy efficient windows assist in reducing the wastage of electricity consumption by cutting off the outlet of air from inside the room. This thereby, helps in maintaining the temperature of the room and reduce artificial air heating or cooling, which in turn drives the growth of the energy efficient windows industry.
On the contrary, the high cost of energy efficient window products, and high installation prices of the energy efficient windows is a major restraining factor for the growth of energy efficient windows market. Energy efficient windows consist of more sophisticated parts and glass coatings compared to normal windows, which increase their product costs. In addition, the installation of these windows also requires skilled labor, which is also increases their installation costs.
However, the various government initiatives for promoting energy efficient buildings to reduce overall energy consumption is expected to grow the demand for energy efficient windows globally. This increase in awareness regarding energy efficiency of buildings, thereby creates lucrative opportunities for the growth of the energy efficient windows market.
The energy efficient windows market is divided on the basis of operating type, glazing type, component, end user, and region. By operating type, the market is categorized into awning, casement, double hung, fixed, hopper, and sliding. By glazing type, it is classified into double glazing, triple glazing, and others. By component, it is categorized into frame, glass, and hardware. By end user, it is bifurcated into residential and non-residential.
By region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, Australia, Japan, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America is expected to hold the largest market share throughout the study period, and Asia-Pacific is expected to grow at the fastest rate.
BY OPERATING TYPE
BY GLAZING TYPE
LIST OF TABLES
LIST OF FIGURES