Portland, OR, March 02, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global electrochromic glass market accounted for $1.20 billion in 2018 and is projected to garner $4.1 billion by 2026, registering a CAGR of 17.2% from 2019 to 2026.
Rise in construction application of electrochromic glass coupled with government incentives for installing energy-saving solution drive the growth of the global electrochromic glass market. However, the high price of electrochromic glass hinders the market. On the contrary, the rise in demand from end-use industries is anticipated to open new opportunities.
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The global electrochromic glass market is segmented on the basis of application, end-user industry, and geography. Based on supplication, the market is categorized into windows, mirrors, and displays. The windows segment dominated the market in 2018, contributing to more than half of the market, due to the rise in the use of smart windows and surge in construction and renovation of old office buildings in North America. On the other hand, the display segment is projected to manifest the fastest CAGR of 19.2% during the forecast period.
Based on end-user industry, the market is bifurcated into construction, automotive, aerospace, and others. The automotive segment is anticipated to portray the fastest CAGR of 18.1% during the study period. This is due to rise in use of sunroof, sun-visors, side windows, and rear windows. However, the construction segment held the largest share in 2018, accounting for one-third of the market.
The global electrochromic glass market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is expected to register the fastest CAGR of 18.1% during the study period. However, the market across Europe held the largest share in 2018, contributing to one-third of the market.
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The global electrochromic glass market report includes an in-depth analysis of the major market players such as AGC Inc., ChromoGenics AB, Compagnie de Saint-Gobain S.A., Kinestral Technologies Inc., Polytronix Inc., Hitachi Chemical Co. Ltd., Smartglass International Ltd., Pleotint LLC, Research Frontiers Inc., and View Inc.
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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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