Energy-Efficient Windows Market grow at 10% CAGR from 2016 to 2024

Energy-efficient windows market is predicted to chalk out a profitable roadmap over the years to come, driven by extensive product usage across residential and commercial sectors. The governments of various countries have launched favorable schemes across the globe to curb greenhouse gas emissions and enhance energy conservation. For instance, the U.S. Environmental Protection Agency had introduced “Energy Star” to help the firms preserve energy and maintain the ecological balance. Such initiatives are expected to create new growth avenues for Energy-efficient windows market. As per Global Market Insights, Inc., “Energy-efficient windows industry revenue is projected to surpass USD 15 billion by 2024.”

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Taking into consideration the geographical trends, Asia Pacific Energy-efficient windows market is anticipated to register substantial gains of more than 11.5% over the coming timeframe. Rise in the number of construction activities in India, China, and Japan can favorably leverage the growth in the future.

U.S. Energy-efficient windows industry size from commercial applications was valued for more than USD 700 million in 2015, subject to the rising product demand across offices and multiplexes. U.S. Energy-efficient windows market is expected to grow at a rate of 10% over 2016-2024. Supportive government norms favoring the use of Energy-efficient items are anticipated to contribute notably toward the regional expansion. Canada Energy-efficient windows market, which accrued an income of more than USD 800 million in 2015, is set to grow considerably over the next few years.

Europe Energy-efficient windows industry size is slated to hit USD 3 billion by 2024, subject to stringent rules implemented by the European Union to curtail overall energy wastage. In fact, the European Union has committed to reduce over 300 million tons of carbon dioxide emissions per year, a majority of which are caused due to residential and commercial buildings. EU’s directives to eliminate these emissions will positively influence global Energy-efficient windows market over the next few years. In addition, the European Union also intends to save approximately 20% of the overall energy requirement in near future.

South & Central America Energy-efficient windows market is foreseen to expand at the rate of 9% over the coming seven years, propelled by the increasing need to reduce the electricity consumption along with the product’s ability to lower electricity bills.

Energy-efficient windows find extensive applications across commercial and residential sectors. Energy-efficient windows industry in the commercial sector is anticipated to grow at a rate of 10% over 2016-2024, owing to the introduction of legislations favoring green constructions. Residential applications, which dominated the overall revenue in 2015, are expected to make noteworthy contributions to global Energy-efficient windows market share in the future, driven by high consumer focus on reducing energy usage coupled with a rise in the number of residential buildings.

Energy-efficient windows are classified based on their glazing features, namely, double glazing and triple low-E glazing. Double glazing Energy-efficient windows industry is projected to contribute notably towards the overall market expansion. This growth can be attributed to the high necessity of maintaining the room temperature in numerous commercial & residential complexes. Triple low-e glazing market, on the other hand, is set to record a CAGR of 11% over 2016-2024, primarily owing to the rising requirement of curtailing power consumption along with escalated R&D funding.

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Based on the adoption trends, Energy-efficient windows industry is segmented into insulation and replacement. Replacement adoption, which contributed to over 60% of global Energy-efficient windows market revenue in 2015, will drive the industry growth over the coming seven years. An increase in the number of renovation activities in regions such as Europe and North America will spur the revenue.

Insulation adoption in Energy-efficient windows industry is projected to hit a revenue of USD 4 billion by 2024, registering a growth of over 11% during the period of 2016-2024, subject to low initial investment costs of the product as compared to its replacement counterpart.

Atrium Corporation, YKK AP Inc., Milgard Manufacturing Inc., JELD-WEN Inc., The Pella Corporation, Soft-Lite LLC, Andersen Corporation, Kolbe & Kolbe millwork Company Inc., and Associated Material Inc. are the key participants of Energy-efficient windows industry.

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