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Energy Efficient Windows Market 2024 - By Size, Competitive Landscape, Upcoming Trends And Outlook By 2033
Energy Efficient Windows Market
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According to The Business Research Company's, The energy efficient windows market size has grown strongly in recent years. It will grow from $11.95 billion in 2023 to $12.71 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to industry standards development, early market adoption, architectural and design trends, public and government initiatives, environmental concerns.
The energy efficient windows market size is expected to see strong growth in the next few years. It will grow to $15.56 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to urbanization and construction boom, renewable energy integration, growing awareness and education, stringent environmental regulations, rising energy costs. Major trends in the forecast period include circular economy and sustainability, health-centric design, digitalization and IoT integration, customization and aesthetics, net-zero energy buildings, advanced insulation and glazing.
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Market Drivers and Trends:
Increasing environmental awareness and the widespread adoption of green buildings are expected to propel the growth of the energy-efficient windows market. Green buildings have adopted the practice of creating structures and using processes to create environmentally responsible and resource-efficient buildings from the beginning to the end of the construction of the building. These energy-efficient buildings provide a significant reduction in the energy required for heating and cooling, independent of the energy and the equipment that will be chosen to heat or cool the building. For instance, according to EnergyStar, a US-based government-backed symbol for energy efficiency, in the year 2021, more than 2.3 million ENERGY STAR certified new homes and apartments were built, including over 120,000 in that year alone. The ENERGY STAR program for commercial buildings helped businesses and organizations save energy, avoid billions of dollars in energy costs, and achieve significant greenhouse gas reductions. Therefore, increasing environmental awareness and the widespread adoption of green buildings are driving the growth of the energy efficient windows market.
Increasing research and development in energy-efficient windows is a key trend in the energy-efficient window equipment market. Stakeholders in the market are focusing on developing efficient windows that can reduce wastage and energy consumption. For instance, in January 2023, YES WORLD, a Singapore-based company, launched energy-efficient windows solutions for home and commercial buildings. The specialized glass includes double pane glass and sandwich glass, which has a layer of a patented material that reflects most of the solar radiant heat. This unique solution addresses deficiencies of the building envelope pertaining to windows and reflects 85 percent of the heat coming from the sun, significantly reducing solar heat gain and energy consumption in terms of HVAC load.
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Major Key Players of the Market:
Saint-Gobain S.A., Buiders first source Inc., PPG Industries Ltd., Masco Corporation, Asahi Glass Co. Ltd., JELD-WEN Holding Inc., Anderson Corporation, Associated Materials LLC, Schott AG, VKR Holding A/S, Ply Gem Holdings Inc., The Rehau group, PGT Inc., Apogee Enterprises Inc., Central Glass Co. Ltd., Sise Ve Cam Fabrikalari, Deceuninck NV, Drew Industries Incorporated, China Glass Holdings Limited, Nippon Sheet Glass Co. Ltd, SoftLite Windows & Doors, Kolbe & Kolbe Millwork Co. Inc., YKK AP America Inc., Quantum Windows & Doors Inc., Ideal Window Manufacturing Inc., Inline Fiberglass Ltd., Don Young Company, Building Materials Holding Corporation, Kensington HPP Inc., GlassCrafters Inc., WeatherBarr Windows & Doors, Thermal Windows & Doors LLC, United Window & Door Manufacturing Inc., Window World Inc., Vista Window Company
Energy Efficient Windows Market 2024 Key Insights:
• The energy efficient windows market size is expected to see strong growth in the next few years. It will grow to $15.56 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%.
• Role Of Energy-Efficient Windows In The Growing Green Building Movement
• Advancements In Energy-Efficient Windows Through Intensive Research And Development
• North America was the largest region in the energy efficient windows market in 2023
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