Redding, California, Feb. 15, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘‘Windows Market by Material (Wood, Wood-Clad, Metal, Plastic, Fiberglass), Frame Type (Slider, Casement, Awning, Hopper, Fixed, Single-Hung, Double-Hung, Glass Block), and Geography - Global Forecasts to 2029,’’ the windows market is projected to reach $52 billion by 2029, at a CAGR of 9% from 2022 to 2029. Based on volume, the global windows market is projected to reach 307.8 million units by 2029, at a CAGR of 9.7% during the forecast period.
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Windows play a vital role in the residential and commercial sectors as they provide natural light, natural ventilation, and operational comfort. Also, windows add to the aesthetics of buildings, provide ventilation, and allow people inside buildings to get an outside view. They allow fresh air entry, reducing exhaustion and improving productivity. Windows are manufactured using materials such as uPVC, aluminum, timber, iron, and steel. Increasing infrastructure development, rising disposable income, and higher development in residential and commercial construction are contributing to the growth of the windows market.
The growth of this market is driven by the rapid growth of the construction industry, consumers’ increasing inclination toward smart homes, and the growing demand for single-hung windows. Rapid urbanization in emerging economies and the increasing demand for windows in the renovation industry are expected to create growth opportunities for the players operating in this market. However, fluctuating raw material prices are a challenge for market growth. Additionally, customers’ growing preference for larger windows is a major trend in the global windows market.
Impact of COVID-19 on the Windows Market
By March 2020, coronavirus had spread to most countries, with the WHO declaring COVID-19 a global pandemic. Governments worldwide imposed countrywide lockdowns to control the spread of the infection. The pandemic affected the growth of the global windows market due to the lockdowns, travel restrictions, and social distancing measures imposed in countries and the delay in manufacturing windows used in residential and commercial spaces. Uncertainty regarding the duration of the lockdowns made it difficult for the key market players to anticipate the recovery of the windows market. Many windows providers were under immense pressure due to the COVID-19 pandemic. At present, economies have shifted their focus from responding to the pandemic to economic recovery; hence, various growth opportunities are expected to emerge for the players operating in the windows market due to the rapidly growing construction industry.
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The COVID-19 pandemic created several challenges for market players due to the lockdowns imposed during the second & third quarters of 2020. The pandemic lowered customers’ financial potential, impacting the sales of the windows market. However, in 2021, major commercial and residential end-use industries started recovering from the economic setbacks suffered during the pandemic. The COVID-19 pandemic moderately impacted the windows market due to delayed and postponed orders; however, the market started recovering rapidly in the last quarter of 2020.
Leading windows providers are focused on offering products with enhanced capabilities to support the growth of the windows market. For instance, in 2022, JELD-WEN Holding, Inc. (U.S.) launched its new line of Auraline composite windows and patio doors in the home building products market. Additionally, in 2020, Pella Corporation (U.S.) launched its Easy-Slide Operator. This new hardware solution allows homeowners to easily slide the operator up to open and down to close the window. Companies are developing innovative windows product solutions to adapt to the changes in customer preference. Thus, the increasing demand for replacement windows from the renovation sector and the increasing inclination of consumers toward smart homes are expected to create growth opportunities for the players operating in the windows market in the coming years.
The windows market is segmented by material (wood, wood-clad, metal, plastic, and fiberglass), frame type (slider windows, casement windows, awning windows, hopper windows, fixed windows, single-hung windows, double-hung windows, and glass block windows), and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.
Based on material, the windows market is broadly segmented into wood, wood-clad, metal, plastic, and fiberglass. In terms of value, in 2022, the plastic segment accounted for the largest share of the global windows market. The large market share of this segment is mainly attributed to the growing construction industry and rising demand for automated ventilation, thermal insulating properties, and burglary protection in homes. However, the fiberglass segment is projected to register the highest CAGR during the forecast period.
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Based on frame type, the windows market is segmented into slider windows, casement windows, awning windows, hopper windows, fixed windows, single-hung windows, double-hung windows, and glass block windows. In 2022, the single-hung windows segment accounted for the largest share of the global windows market. However, the awning windows segment is projected to register the highest CAGR during the forecast period. This segment's growth is attributed to consumers' rising focus on comfort, safety, and convenience and the benefits of awning windows, such as better ventilation, affordability, and energy efficiency features.
Based on geography, the windows market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific accounted for the largest share of the global windows market, followed by Europe and North America. The region is also expected to witness rapid growth during the forecast period. The large market share of Asia-Pacific is mainly attributed to the increasing expansion opportunities provided by the rise in construction & renovation activities in India, Australia, Indonesia, and Thailand, the growing number of residential end users in China and India, the rise in building construction activities in South Korea and Indonesia, and growing prominence of net-zero energy buildings.
The report also includes an extensive assessment of the key growth strategies adopted by the leading market participants between 2020 and 2022. The key players operating in the windows market are JELD-WEN Holdings, Inc. (U.S.), Andersen Corporation (U.S.), Atrium Corporation (U.S.), LIXIL Corporation (Japan), Marvin Lumber and Cedar Co (U.S.), MI Windows & Doors, LLC (U.S.), Masco Corporation (U.S.), Pella Corporation (U.S.), Weru GmbH (Germany), BG Legno Srl (Italy), SGM Window Manufacturing Limited (U.K.), Vinylguard Window & Door Systems Ltd. (Canada), Deceuninck NV (Belgium), Neuffer Window + Door GmbH (Germany), and Duo-Corp. (U.S.).
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Scope of the report:
Windows Market by Material
- Plastic
- Wood-clad
- Metal
- Aluminium
- Steel
- Fiberglass
- Double-glazed Panes
- Single-glazed Panes
- Triple-glazed Panes
- Wood
Windows Market, by Frame Type
- Single-glazed Panes
- Double-hung Windows
- Slider Windows
- Casement Windows
- Fixed Windows
- Awning Windows
- Glass Block Windows
- Hopper Windows
Windows Market, by Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Poland
- Belgium
- Switzerland
- Spain
- Netherlands
- Sweden
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Australia
- Indonesia
- Thailand
- Malaysia
- Philippines
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
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