by Brianna Crandall — January 11, 2016—Transparency Market Research has released a new market report on the global energy-efficient windows market. According to the report, the global energy-efficient windows market was valued at U.S.$222.15 billion in 2014 and is projected to reach $479.9 billion by 2023 at a compound annual growth rate (CAGR) of 9.71% from 2015 to 2023.
High-performance energy-efficient windows are made up of four major components: low-emissivity (or low-e) coated glass, gas fills, spacers, and improved frames. These windows significantly increase the energy efficiency of the building structure by reducing its energy consumption, explains TMR. Energy-efficient windows maintain the ambient temperatures inside the building by reflecting the outside infrared light.
Drivers
In the last few decades, the global energy consumption has increased due to rising population, followed by an increase in commercialization, reminds the report. Limited energy-generation sources have led nations to explore several techniques for optimizing energy consumption.
Government institutions and regulatory bodies across the globe have introduced several policies and incentives in order to promote energy-efficient window technologies in building structures. Introduction of such programs has benefited not only consumers but also manufacturers of energy-efficient windows. This acts as a major driving force for the energy-efficient windows market.
Segments
The energy-efficient windows market has been segmented on the basis of type of glazing and geography. Based on glazing type, the market has been segmented into double glazing windows and triple low-e glazing windows. The double glazing windows segment held the largest share of the market, by glazing type, in 2014.
Geographically, the global energy-efficient windows market was dominated by North America in 2014, owing to the regional proximity of top players in the market and also being a market full of aware and ready-to-buy consumers. In the near future, the global market is expected to be propelled by the “Rest of the World” segment, due to the depleting resources that are conventionally used to fuel temperature-controlled environments.
Nations such as India and China are also quickly becoming larger entities in the global energy-efficient windows market due to rapid commercialization, supportive regulatory policies, and the limitations put on the use of conventional energy resources.
The research report with market analysis, Energy Efficient Windows Market, by Glazing Type (Double Glazing Windows and Triple Low-E Glazing Windows) – Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015-2023, is available for purchase from TMR, as are a sample of the report and regional analysis.
