The global energy efficient windows market will exceed USD 34.4 billion by 2032, growing at a CAGR of 7.8 .

New York, United States, Nov. 28, 2023 (GLOBE NEWSWIRE) - The energy efficient windows market will grow from USD 16.3 billion in 2022 to USD 34.4 billion by 2032, at a compound annual growth rate (CAGR) of 7.8% during the forecast period.

Energy efficient window helps in reducing the use of artificial heating and cooling in a building. Windows that insulate against cold and heat four times better than conventional windows have been made possible by technological advances over the past 25 years. The increased insulation in energy-efficient windows reduces the load on heating and cooling systems, as well as operating costs. Energy-efficient glass windows provide a superiorthermal comfort in any room, as they are able to maintain an optimal internal temperature. A variety of materials and designs are available for energy efficient windows. The energy-saving efficiency of a window is determined by how effectively these components retain heat, how much light can penetrate through the glass, and how little air enters the room. In energy-efficient windows, two or three panes of glass are joined together and placed in a frame made of PVC, wood, or other material. The space between the glass panes is filled with air or an inert gas such as argon. The sealed container contains gas or air.

The concept of smart city is increasing the demand for energy saving products, which is driving the marketof energy-efficient windows.

The impact of COVID-19

The COVID-19 epidemic has had a significant impact on the global manufacturing sector. Many manufacturers were forced to temporarily halt production to comply with bans issued by the authorities. Construction projects were delayed and automobile production was halted. The sector began to recover in the second half of 2020, although the US was not independent of these difficulties. Thanks to the belief that construction is a necessary service, construction investment in the US has increased. In particular, the number of new private residential projects increased by 6.7% in 2019; this trend is expected to continue in the post-pandemic period. In addition, glass manufacturing companies,closed certain locations and utilized telecommuting and other social distancing measures to combat the COVID-19 pandemic in Europe.

The glazing segment dominates the market with the largest market share during the forecast period. By type, the energy efficient windows market is divided into double glazed, triple glazed, and other windows.

The glass segment is witnessing significant CAGR growth during the forecast period. By component, the energy saving windows market is divided into glass, frame, equipment, and others. Among these, increasing awareness about climate change and glass segment is expected to lead the market during the forecast period. The double pane window market in the energy saving windows sector is growing due to significant reduction in heat loss and promotion of energy conservation.

The commercial segment is expected to have the largest share of the energy saving windows market during the forecast period.By application, the energy efficient windows market is categorized into residential, commercial, and industrial. Among these, the commercial sector is anticipated to have the largest market share during the forecast period. Moreover, with the expanding economies, green building is becoming more prevalent in the commercial construction industry. Adoption of energy-efficient windows, which reduce energy usage and air conditioning costs, is a key driver for market expansion and is anticipated to grow at a CAGR of 8.10% during the forecast period.

North America dominates the market during the forecast period. Continuous spending by the government will lead to rapid growth of the economyNorth America. The demand for energy-efficient windows in these regions will influence the growth of real estate investments and research into various new approaches to improve efficiency and reduce energy consumption. The market for energy-efficient windows in the United States continues to grow at over 10% annually. There is significant government support for marketing energy efficient products in the region.

Asia Pacific is witnessing the fastest market growth during the forecast period. The benefits of energy efficient windows, such as increased insulation and lighting efficiency, less condensation, and reduced burnout of interior items, are beginning to be recognized by the construction industry in this region.According to the American Council on Energy Efficiency (ACEEE), China, Japan, Australia, India, and South Korea are ranked 4th, 6th, 10th, 11th, and 12th among the most energy efficient economies. Government initiatives to develop smart cities are contributing to the growth of the energy efficient windows market in this region.

The major vendors in the global energy efficient windows market are YKK AP, Inc., Builders First Source, Inc., Deceuninck NV, PGT, Inc., Asahi Glass Co. Ltd., Nippon Sheet Glass Co. Ltd., Central Glass Co. Ltd., Masco Corporation, Builders Jeld-Wen Holding Inc., VKR Holding A/S, YKK Corporation, Andersen Corporation, Apogee.

It is also noted that Ubiquitous Energy has received a strategic investment from Andersen Corporation in January 2022. Ubiquitous Energy's UE Power technology is a transparent photovoltaic glass that generates aelectricity while retaining the look of traditional windows.