Energy Efficient Windows Market
Energy Efficient Windows Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023
Press Release :
Global Energy Efficient Windows Market: Snapshot
Nations are ramping up their efforts to reduce their carbon emissions by as much as possible in the light of the exceeding levels of pollution and resource depletion across the world. Countries such as China, the U.S., and Russia have all set environment conservation goals for their lands, aiming for as much as 40% to 45% carbon footprint reduction by 2020, as set by China. The E.U. as a whole has set high priority environment protection goals, accomplishing which would result in significant reduction in the global carbon emissions. Energy efficient windows can provide key contributions to these goals by helping regulate indoor temperatures and reducing the need for powered temperature control methods.
Additionally, the producers of energy efficient windows can also look forward to a brighter future due to the increasing investment rates shown by government and private investors. They are also set to experience a greater demand due to the increasing commercialization rates across emerging economies, leading to the construction of more buildings.
As a result, the revenue earned by energy efficient players globally is expected to progress at a CAGR of 9.71% from 2015 to 2023. This market is expected to be valued at US$286.52 bn by the end of 2016, and US$479.9 bn by 2023.
North America Regulatory Reforms Build Up Energy Efficient Windows Demand
The North America energy efficient window players are collectively expected to generate a revenue of US$247.76 bn by the end of 2023. The key driver for this region’s market is the introduction of stricter energy conservation regulations. Programs such as ENERGY STAR already have an established presence in North America. These factors are expected to make it easier for producers as well as consumers of energy efficient windows. Currently, most of the demand for energy efficient windows is being generated by consumers that are replacing their conventional windows.
The assessment of energy efficient windows in the U.S. is conducted by the NFRC. It is responsible for the quality rating of all energy efficient windows in the country, making it important for players to abide by their guidelines.
Meanwhile, Asia Pacific is showing a rapidly growing demand for energy efficient windows, most of which originates from China. The construction boom in China, coupled with the high pollution levels have prompted the government to take strict actions to combat the rising carbon emissions. This involves reforms in various building codes related to energy conservation.
Double Glazing Windows Retain Market Leadership Due to Lower Cost
Double glazing and triple low-E glazing are the two options currently commercially available. Of the two, double glazing is preferred by most consumers globally. The key reason for this is the lower cost of double glazing windows. High pricing is a major restraint on the energy efficient windows demand growth and the relatively lower cost of double glazing helps alleviate the burden of investment considerably. Currently, most countries, especially emerging ones, are using double glazing windows that will later be replaced by the more effective triple low-E glazing.
The key producers of energy efficient windows across on a global scale include Marvin Windows and Doors, Inc., Milguard Manufacturing, Inc., Kolbe & Kolbe Millwork Co., Inc., and Pella Corporation.
Growing Awareness about Harmful Effects of Artificial Air on the Environment will contribute largely to the Growth of the Energy Efficient Windows Market
The energy efficient windows market is expected to garner substantial growth during the forecast period of 2015-2023 on the back of the rising awareness about the harmful effects of air conditioning systems on the environment. Sustainability has acquired a prominent place among the government bodies of numerous countries, eventually bringing an increase in the number of initiatives to reduce carbon footprint. This aspect will indirectly have a large impact on the growth of the energy efficient windows market.
- Energy efficient windows help in decreasing electricity consumption wastage by cutting off the outlet of air inside the room. This factor assists in maintaining the room temperature and reduces the effect of artificial air cooling or heating. Thus, the benefits attached to the growth of the energy efficient windows market will prove to be an efficient prospect for the energy efficient windows market.
- Research and development activities have a major role in the growth of the energy efficient windows market. The players in the energy efficient windows market invest heavily in these activities. The activities help in the formulation of novel initiatives and features that lead to an expansion of the consumer base. The expansion of the base increases revenues, eventually adding extra stars of growth to the energy efficient windows market.
- The players in the energy efficient windows market are also involved in strategic collaborations. The collaborations play a vital role in cementing the foothold of the players in the energy efficient windows market, ultimately increasing the growth rate of the energy efficient windows market.
- The COVID-19 pandemic has a negative impact on the growth of the energy efficient windows market. The growing transmission levels and the rising fatalities due to the virus transmission led to the imposition of severe lockdowns. These lockdowns led to the shutdown of factories and manufacturing units, which impacted the growth of the energy efficient windows market. However, the relaxations in lockdowns will serve as a relief for the players in the energy efficient windows market
This research study analyzes the market for energy efficient windows in terms of revenue (US$ Bn). The energy efficient windows market has been segmented on the basis of glazing type and geography. The geographical segmentation comprises four regions. For the research, 2014 has been taken as the base year, while all forecasts have been given for the period from 2015 to 2023. Market data for all the segments has been provided at the regional as well as country-specific level from 2015 to 2023. The report provides a broad competitive analysis of companies engaged in the energy efficient windows business. The report also includes the key market dynamics such as drivers, restraints, and opportunities affecting the global energy efficient windows market. These market dynamics were analyzed in detail and are illustrated in the report with the help of supporting graphs and tables. The report also provides a comprehensive analysis of the global energy efficient windows market with the help of Porter’s Five Forces model. This analysis helps in understanding the five major forces that affect the structure and profitability of the global energy efficient windows market. The forces analyzed are bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and degree of competition.
The high-level analysis in the report provides detailed insights into the energy efficient windows business globally. There are currently numerous drivers of the market. The most prominent drivers include increasing energy conservation policies and norms globally, and growing industrialization and commercialization, especially in developing countries.
The energy efficient windows market was segmented on the basis of glazing type (double glazing and triple low-e glazing) and geography. The energy efficient windows market was analyzed across four geographies: North America, Asia Pacific, Europe, and Rest of the World (the Middle East, South America, and Africa). Regional data has been provided for each sub-segment of the energy efficient windows market. Key players in the energy efficient windows market include Kolbe & Kolbe Millwork Co., Inc., Marvin Windows and Doors, Inc., Milgard Manufacturing, Inc., Pella Corporation, Soft-Lite, LLC, Atrium Corporation, Andersen Corporation, JELD-WEN Inc., YKK AP Inc., and Associated Materials, LLC. The report provides an overview of these companies, followed by their financial details, business strategies, and recent developments.
Energy Efficient Windows Market: By Glazing Type
- Double Glazing Windows
- Triple Low-E Glazing Windows
Energy Efficient Windows Market: By Region
- North America
- Rest of North America
- Asia Pacific
- Rest of Asia Pacific
- Rest of the World