Strong global drive for reducing energy consumption along with rising awareness to curb GHG emissions will influence energy efficient windows market growth over the years to come. For instance, energy efficient windows help in the energy conservation for heating and cooling activities across residential constructions. According to Global Market Insights, Inc., “Energy Efficient Windows Market value is anticipated to hit USD 15 billion by 2024.” Commercial and residential constructions account for a major portion of carbon emissions, thereby favorably influencing the global industry trends over the next few years. In addition to this, the booming construction sector is expected to contribute substantially toward the energy efficient windows industry revenue in the near future.
Double glazing energy efficient windows industry is anticipated to continue its domination over the period of 2016-2024, driven by its growing need for maintaining room temperature across commercial and residential infrastructures. Triple low-e energy efficient windows industry is anticipated to grow at a rate of 11% over the coming period of 2016-2024, owing to heavy investments in R&D activities along with growing initiatives to increase energy efficiency.
Canada Energy Efficient Windows Market size, by application, 2013-2024 (USD Billion)
Energy efficient windows finds extensive application across commercial and residential sectors. Commercial application is expected to grow at a CAGR of 10% over the coming timeframe, due to favorable government policies supporting erection of green structures plus high rate of commercialization across the APAC regions. Rise in the number of construction activities along with high consumer awareness regarding energy conservation is forecast to boost energy efficient windows market revenue in the residential sector.
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Below are the regional trends favorably impacting global energy efficient windows market over 2016-2024:
- Europe energy efficient windows industry size is expected to record substantial gains over the period of 2016-2024, driven by stringent legislations implemented by the EU to reduce overall power consumption.
- Increase in the number of construction activities across countries such as Japan, China, and India is projected to positively impact Asia Pacific energy efficient windows market over the coming period of 2016 to 2024. High investments in infrastructural projects will further drive the industry growth in the region over the next few years.
- Rapidly expanding commercial sector along with notable support from the government encouraging the use of energy efficient goods is expected to propel North America energy efficient windows industry. Furthermore, the growing efforts for reducing energy consumption as well as CO2 emissions from buildings is expected to boost the regional revenue. U.S. and Canada are expected to make major contributions towards the regional share.
- South & Central America energy efficient windows industry is anticipated to witness a noticeable growth over the coming period of 2016-2024, driven by high demand for reducing electricity bill costs.
Energy efficient windows industry is highly competitive and industry participants are expected to dominate the global market share through product development as well as high R&D investments. Major market players include Pella Corporation, Milgard Manufacturing Incorporation, Andersen Corporation, Marvin Windows & Doors, Associated Material Incorporation, Soft-Lite, Atrium Corporation, JELD-WEN Incorporation, Kolbe & Kolbe Millwork Company Incorporation, and YKK AP Incorporation.
Author Name : Dhananjay Punekar