Energy Efficient Windows Market Analysis

Energy Efficient Windows Market Analysis

Double glazing energy efficient windows market size will continue to dominate by 2024. It is double window separated by vacuum or gas filled space to minimize heat transfer. Increasing need to maintain room temperature in residential and commercial buildings by restricting outside heat flows may stimulate demand.

Triple Low-E glazing is projected to expand at over 11% CAGR from 2016 to 2024. Increasing private sector R&D spending coupled with initiatives such as Energy Star to reduce energy consumption particularly in buildings is playing active role in driving Triple Low-E glazing penetration.

Replacement adoption was the larger market share contributor in 2015. 15 to 20 years old buildings mostly require replacement which may drive industry growth. Also, increasing renovation activities particularly in North America and Europe owing to dual income families and improved living standards are switching towards these products to minimize annual consumption.

Insulation adoption is forecast to witness gains at over 11% CAGR up to 2024. High replacement cost is likely to drive segment revenue. On an average, a 2500 square feet house costs over USD 15,000 for replacement, which is around 50% to 60% higher than insulation.

Residential applications, driven by strong consumer awareness trends are set to lead demand. Growing residential construction projects coupled with increasing customer awareness towards minimizing energy consumption may boost residential energy efficient windows market size. Commercial application is forecast to expand at over 10% CAGR over the forecast timeframe. Rapid commercialization coupled with government initiative to promote energy efficient buildings is likely to drive industry growth.

U.S. energy efficient windows market size continues to show over 10% growth. The region has witness significant government support for promoting energy efficient products. For instance, Building Technologies Program (BTP) by Department of Energy office of Energy Efficiency and Renewable Energy (EERE) has made huge R&D investment. BTP is engaged with increasing energy efficiency and minimizing carbon emissions in the buildings sector of the U.S. economy.
 

Europe market share, while relatively nascent in terms of penetration, should see strong gains by 2024. Asia Pacific is projected to witness gains at over 11.5% CAGR from 2016 to 2024. Growing construction industry particularly in China, Japan, and India may positively influence demand over the forecast timeframe.