New York, United States, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Energy-efficient windows include double or triple-paned glazing filled with air, argon, or krypton to decrease heat loss from the inside of the structure. Keeping air from escaping via windows eliminates the need for artificial air conditioning and maintains a constant temperature within the room. The primary components of an energy-efficient window are the window frame, glass that may or may not contain specialized coatings, such as low emissivity (Low-E) coating, and additional hardware, such as spacers and hinges. In addition, the solar heat gain coefficient (SHGC), which measures how much solar heat enters through the window, and the U-factor, which measures the window's insulating ability, are the two primary metrics used to evaluate the energy efficiency of a window.
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Lower Energy and Air Conditioning Cost Along with the Awareness Regarding Environmental Sustainability to Drive the Global Energy Efficient Windows Market
Traditional windows with single or double clear glass panes are ineffective for varying climatic conditions in different places and throughout the year. These windows allow heat flow between a structure's interior and exterior. Therefore, the heaters and air conditioners run for longer durations, consuming more energy and raising energy bills. A home uses 25% to 30% more energy to heat and cool it due to heat gain and heat loss through windows. On the other hand, energy-efficient windows are designed to form a barrier that prevents heat and air movement to the exterior. The consequence is a decrease in the cost of air conditioning.
The US Department of Energy reports that Energy Star-certified windows can reduce yearly energy expenditures by up to 15%, or USD 71 to USD 105, depending on the window type and where it is installed. As a result of declining energy and air conditioning costs, the market for energy-efficient windows is rising. In addition, the leaks and drafts caused by the windows result in a loss of heat in the winter and cold air in the summer, which ultimately increases the cost of power.
According to Environmental Defense Canada, building cooling, heating, and lighting systems produced more than 25% of the total greenhouse gas recorded in Ontario. Consequently, the carbon footprint increases and contributes to climate change. However, widespread awareness of environmental sustainability and climate change mitigation techniques has increased significantly. To reduce heat loss, the current windows have been changed. The demand for energy-efficient windows is expanding as environmental awareness grows.
The Increasing Governmental Initiatives to Create Global Energy Efficient Windows Market Opportunities
The installation of energy-efficient solutions has become more important as energy consumption has increased. The installation of these energy-efficient technologies is expected to be costly, though. In addition, the government has implemented several steps to address this issue that is expected to speed up the adoption of energy-efficient alternatives. Authorized government agencies have begun to offer tax incentives, rebates, and loans for certified products based on the state or operating region.
This encourages the purchasing of windows that qualify. Environmental Defense of Canada, for instance, offers clients who install brand-new windows with the Energy Star label a USD 500 per-window reward, up to a maximum of USD 5,000. Moreover, these government activities are anticipated during the projected period to create attractive market opportunities for energy-efficient window products.
Key Highlights
- According to Straits Research, “The global energy efficient windows market size was valued at USD 18,135 million in 2021. It is expected to reach USD 37,168 million by 2030, growing at a CAGR of 8.3% during the forecast period (2022-2030).”
- Based on the operating type, the awning section will presumably hold the largest share, expanding at a CAGR of 9.11%.
- Based on the glazing type, the double-glazing section is predicted to have the most significant shareholding, expanding at a CAGR of 9.2%.
- Based on the component, the frame section is forecasted to hold the largest share, expanding at a CAGR of 7.95%.
- Based on the end-user, the residential section is estimated to advance at a CAGR of 8.9% and hold the largest share.
- Based on regional analysis, North America is forecasted to command the regional market while expanding at a CAGR of 7.7%.
Regional Insights
North America is forecasted to command the regional market while expanding at a CAGR of 7.7%. Due in significant part to the region's high adoption rate of energy-efficient windows, the market for energy-efficient windows is dominated by North American manufacturers. In the United States, numerous companies produce energy-efficient windows, including Andersen Corporation, Jeld-Wen Holding, Inc., Marvin, Masco Corporation, PGT Innovation, Inc., and Cornerstone Building Brands. In addition, these companies have production facilities in Minnesota, Arizona, North Carolina, Michigan, and Florida. These producers seek to provide a comprehensive assortment of energy-efficient windows as well as service and sales assistance to a variety of end users in North America.
Due to the increase in the installation of energy-efficient windows, intensive research and development is being conducted in the field of energy-efficient window technology. These innovations give users the optimal solution. Currently, enterprises in this area offer highly sophisticated energy-efficient windows. To broaden their product offerings and attract more consumers with various options, these businesses have released numerous new products for various window kinds based on the operating style, glazing style, and end users during the past several years. Additionally, many new manufacturing facilities are being constructed. Many showrooms are located in major cities to reach out to customers and visually display the products.
Europe will presumably hold USD 11,719 million, expanding at a CAGR of 8.85%. Europe's governments have implemented stringent environmental protection legislation. Innovative technology is being developed by corporations to reduce the use of nonrenewable energy sources. In addition, cutting-edge equipment is being created to reduce the operational expenses of buildings. Windows with better energy efficiency and an emphasis on performance. Moreover, notable manufacturers with a significant regional presence include Deceuninck Group, VKR Holdings A/S, and Rehau, among others, whose headquarters are all in Europe. These variables positively affect the growth of the energy-efficient window industry in Europe.
Competitive Players in the Market
- Andersen Corporation
- Deceuninck NV
- JELD-WEN Inc.
- Marvin
- Masco Corporation
- PGT Innovations, Inc.
- Ply Gem Residential Solutions (Cornerstone Building Brands)
- REHAU Incorporated
- VKR Holdings A/S
- YKK Group
Market News
- In 2022, Andersen Corporation and Ubiquitous Energy, the global leader in transparent solar technology, entered into an agreement to create energy-generating windows and doors. Together, the businesses will develop technologies transforming how solar energy is produced for homes and small commercial buildings.
Global Energy Efficient Windows Market: Segmentation
By Operating Type
- Awning
- Casement
- Double-hung
- Fixed
- Hopper
- Sliding
By Glazing Type
- Double Glazing
- Triple Glazing
- Others
By Component
- Frame
- Glass
- Hardware
By End-User
- Residential
- Non-Residential
By Region
- North America
- Europe
- Asia Pacific
- LAMEA
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