Market Analysis
According to the latest Market Research Future (MRFR) report, the worldwide energy-efficient windows market is expe cted to develop at an 8% CAGR from 2020 to 2027. Energy efficient windows reduce the need for artificial cooling and heating in a structure. The frame, glazing, or glass, and associated hardware are the three primary components of these windows.
Several reasons are driving the global market for energy-efficient windows. According to recent MRFR market estimates, such factors include the booming construction industry, the rising popularity of energy-efficient windows for being eco-friendly and cost-effective, stringent restrictions issued by the International Energy Agency to conserve energy, rising energy conservation, increasing awareness to minimise carbon footprints, increasing adoption of green building standards, trend towards improving energy efficiency, and the rise in popularity of HVAC a/c units.
High initial cost of energy efficient windows coupled with the fluctuations in raw material prices may impede the global energy-efficient windows market growth over the forecast period.
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COVID-19 Analysis
Unfortunately, the energy efficient black windows market has faced the brunt of the ongoing COVID-19 pandemic. Owing to the pause of non-essential work worldwide the production of such windows has been suspended. For the lockdown and pandemic in different countries, several workers in the energy efficiency sector lost their jobs which had a negative impact on the market growth.
Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global energy efficient windows market based on glazing type, components, and application.
By glazing type, the global energy efficient windows market is segmented into triple lower, double, and others. Of these, the double segment will lead the market over the forecast period.
By components, the global energy efficient windows market is segmented into frames, pane spacers, and glass. Of these, the glass segment will dominate the market over the forecast period.
By application, the global energy efficient windows market is segmented into industrial, commercial, and residential. Of these, the residential segment will spearhead the market over the forecast period.
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Regional Analysis
The global energy efficient windows market is segmented by geography and covers recent trends and potential opportunities in North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). Over the projection period, Europe will lead the market for government energy conservation measures.
The worldwide energy efficient windows market is expected to increase significantly in the APAC region over the forecast period. Growing construction industries in India, Japan, and China, rising demand for energy efficient windows in China, high pollution levels in China that have prompted the government to take strict measures to combat rising carbon emissions, rising disposable incomes, and rising residential construction in developing countries are all contributing to the region’s global energy efficient windows market.
The worldwide energy efficient windows market in North America is expected to grow at a healthy rate over the forecast period. Growing real estate investments, research into new ways to improve efficiency and reduce power consumption, stricter energy conservation regulations, the presence of programmes like ENERGY STAR, the replacement of conventional windows with energy efficient windows, and various government initiatives are all contributing to the global energy efficient windows market in the region.
Key Players
The leading players profiled in the global energy efficient windows market report include Ply Gem Holdings, Inc. (U.S.), YKK AP, Inc. (Japan), Jeld-Wen Holding, Inc. (U.S.), Builders FirstSource, Inc. (U.S.), Masco Corporation (U.S.), Central Glass Co. Ltd. (Japan), SCHOTT AG (Germany), Nippon Sheet Glass Co. Ltd. (Japan), Asahi Glass Co., Ltd. (Japan), and Saint Gobain S.A. (France), among others.
With many local and international industry participants, the worldwide market for energy efficient windows is fragmented and competitive. Collaborations, partnerships, contracts, global expansions, new product launches, joint ventures, and other tactics have been implemented to stay ahead of the competition and to meet the growing needs of customers. Furthermore, these companies are investing heavily in research and development in order to strengthen their portfolios and get a foothold in the market.
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