Energy-efficient Windows Market Size Booming to Reach USD 19.5 Billion With the CAGR of 8.04% by 2029 | BlueWeave Consulting
Geographically, the global energy-efficient windows market covers five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Europe dominates the global energy-efficient windows market owing to favorable government policies and high awareness regarding energy-efficient technologies. The UK Government, for instance, recently announced the funding of EUR 12 million (approximately USD 12.8 million), under Industrial Energy Transformation Fund (IETF), to help energy-intensive industries to improve their energy efficiency and cut their carbon emissions.
New Delhi, Feb. 20, 2023 (GLOBE NEWSWIRE) — Global energy-efficient windows market is gaining traction because of an increasing demand for energy-efficient window from the thriving construction industry and rising adoption of green buildings across countries.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global energy-efficient windows market size at USD 11.39 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global energy-efficient windows market size to grow at an impressive CAGR of 8.04% reaching a value of USD 19.47 billion by 2029. The rapid development of residential and commercial spaces as a result of the growing population and the rising need for effective heating, ventilation, and air-conditioning (HVAC) systems are major driving factors for the global market for energy-efficient windows. The market is also expected to gain from the growing integration of cutting-edge technologies, such as artificial intelligence (AI) and the Internet of Things (IoT) into windows.
Global Energy-efficient Windows Market – Overview
Energy-efficient windows are engineered to stop warm or cooled air from exiting the buildings. It prevents the HVAC systems from working harder than necessary. Lower electricity costs and more constant temperatures throughout the year are the advantages. Energy-efficient glass lessens heat loss via windows and results in fewer draughts and cold spots. These windows not only keep the heat inside but also shield the house from outside noise. Condensation buildup on the interior of windows is decreased by the energy-efficient glass.
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Global Energy-efficient Windows Market – By End User
Based on end user, the global energy-efficient windows market is segmented into non-residential and residential. The residential segment accounts for a higher market share, due to rising housing demand and increasing construction of residential facilities, mainly in emerging economies. By decreasing drafts and raising the temperature of the inner side of the window, properly fitted energy-efficient windows reduce condensation and improve comfort in houses. However, the non-residential segment is projected to register growth at a higher rate during the forecast period.
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Opportunity: Rebuilding & Redevelopment Projects in Disaster-hit Countries
Global energy-efficient windows market is expected to witness significant opportunities provided by the massive rebuilding, redevelopment, and recovery infrastructure projects from disaster hit regions across the world, particularly in earthquake-hit Türkiye and war-ravaged Ukraine.
On February 06, 2023, a 7.8-magnitude of earthquake hit Türkiye and Syria, killing tens and thousands of people and severely damaging infrastructure in cities and villages across its fault line. The President of Türkiye announced that the government would engage in a comprehensive construction program to rebuild cities with safety and sustainability. Analysts estimated that the urban redevelopment across Türkiye post the earthquake would provide huge opportunities for the construction and related industries in total investment of more than USD 250 billion.
Russia’s war in Ukraine has been continuing for more than a year now. Consequently, infrastructure across Ukraine has been severely damaged. In September 2022, Ukraine government, the European Commission, and the World Bank, along with their partners estimated the cost of Ukraine’s reconstruction and recovery would be about USD 350 billion. As the war continues, the cost is anticipated to escalate.
Massive redevelopment and recovery projects in Türkiye and Ukraine are expected to provide lucrative growth opportunities for construction and supplementary industries. It, in turn, is projected to aid the growth of global energy-efficient windows market during the forecast period between 2023 and 2029 and beyond.
Impact of COVID-19 on Global Energy-efficient Windows Market
The unprecedented COVID-19 pandemic had a detrimental effect on the expansion of the market for energy-efficient windows globally. As the lockdown was imposed in several regions of the world, construction activities were suspended. Consumers’ declining purchasing power contributed to a dramatic fall in renovation activity. These factors significantly reduced the demand for energy-efficient windows. The market was badly impacted by the government’s investment shift from infrastructure to the healthcare industry. Nonetheless, it is anticipated to pick up speed in the next few years as building activity picks back up.
Major players operating in the global energy-efficient windows market include Saint-Gobain, Asahi Glass, YKK AP, Jeld-Wen Holdings, Nippon Sheet Glass, PPG Industries, Masco Corporation, Builders Firstsource, and Schott and Ply Gem Holdings. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Energy-efficient Windows Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global Energy-efficient Windows Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
- In February 2023 – All Weather Architectural Aluminium, Inc., a US-based energy-efficient custom aluminum windows and door manufacturer, launched the all-new Series 6200 Horizontal Slide Window system.
Scope of the Report
|Years Considered||Historical Data – 2019–2022|
|Base Year – 2022|
|Estimated Year – 2023|
|Forecast Period – 2023–2029|
|Facts Covered||Revenue in USD Billion|
|Market Coverage||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Product/ Service Segmentation||Glazing Type, Component, Application, End User, Region|
|Key Players||Saint-Gobain, Asahi Glass, YKK AP, Jeld-Wen Holdings, Nippon Sheet Glass, PPG Industries, Masco Corporation, Builders Firstsource, Schott and Ply Gem Holdings|
By Glazing Type
- Double Glazed
- Triple Glazed
- New construction
- Renovation & reconstruction
By End User
- North America
- Asia Pacific (APAC)
- Latin America
- Middle East and Africa (MEA)
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