by Brianna Crandall — January 20, 2017 — According to a recent report from MarketsandMarkets, the energy-efficient windows market is projected to witness significant growth in the next few years due to the increasing adoption of green building standards, the trend toward improving energy efficiency, and the growth in popularity of heating, ventilation and air-conditioning (HVAC) applications.
The rise in construction activities in emerging economies and the increasing use of sustainable construction methods are also driving the global energy-efficient windows market, which the report estimates will grow from USD 10.12 billion in 2015 to $25.31 billion by 2026, at a compound annual growth rate (CAGR) of 8.6% between 2016 and 2026.
The residential segment dominated the market in 2015 and is projected to be the fastest-growing end-use sector in the next ten years. As a result of the growth in population, and the rise in urbanization and industrialization, this market is mostly driven by the upward surge in the demand for new construction across the world.
The benefits that energy-efficient windows offer, such as reduced noise and dust and improved thermal insulation, are also boosting growth in the residential sector.
On the basis of application, the replacement and renovation segment is projected to grow at the fastest rate during the forecast period. This growth can be attributed to the existing base of installed windows, which need replacement over the years. Also, rising concerns about energy consumption and the growing trend toward sustainable construction are also anticipated to push homeowners and building contractors to switch to energy-efficient windows for replacement purposes, especially in developed markets.
The European region contributes a major market share in the global energy-efficient windows market. However, the European market is projected to grow at a comparatively lower rate than other regions as a result of weak construction demand in the region due to sub-performing economic conditions.
The Asia-Pacific region is projected to register the highest growth from 2016 to 2026, while China is projected to be fastest-growing country-level market in the region. North America is projected to grow at the second-highest rate, with the United States registering the highest growth rate in the region. Emerging economies such as South Africa, Brazil, and countries in the Middle East are projected to grow at moderate CAGRs.
The major players in the energy-efficient windows market include Saint Gobain S.A. (France); Asahi Glass Co., Ltd. (Japan); Nippon Sheet Glass Co. Ltd. (Japan); SCHOTT AG (Germany); Central Glass Co. Ltd. (Japan); Masco Corporation (USA); Builders FirstSource, Inc. (USA); Jeld-Wen Holding, Inc. (USA); YKK AP, Inc. (Japan); Ply Gem Holdings, Inc. (USA); BMC Stock Holdings, Inc. (USA); Associated Materials LLC (USA); Apogee Enterprises, Inc. (USA); Deceuninck NV (Belgium); and PGT, Inc. (USA).
The 197-page report, Energy-efficient Windows Market by Glazing Type (Double, Double Low-e, Triple, and Triple Low-e), Component (Glass, Frame, and Hardware), Application (Replacement & Renovation and New Construction), End-use Sector, and Region – Global Forecast to 2026, is available for purchase from the MarketsandMarkets Web site. Early buyers will receive 10% customization on reports.