Electrochromic Glass Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMMA903 | Last Updated On: Jun 24 2022 | Available Formats

> Global Electrochromic Glass Market Expected to reach at a high CAGR of 16% by 2029: DataM Intelligence

Global Electrochromic Glass Market is Segmented By Type (Windows, Mirrors, Display, Others), By End-Use (Building & Construction, Aerospace, Automotive, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global "Electrochromic Glass Market" is expected to grow at a high CAGR of 16% during the forecasting period (2022-2029).

  • Electrochromic glass is a smart glass or dynamic glass. It is an electronically tintable glass used for skylights, windows, facades and curtain walls. Electrochromic glass, which can be directly controlled by building occupants, is famous for its ability to improve occupant comfort, maximize access to daylight and outdoor views, reduce energy costs and provide architects with more design freedom.

Market Dynamics

  • A rising inclination towards green building is one of the critical factors spurring the market. Also, rising R&D activities, technological advancements in the development of electrochromic coating films, and increased need for energy-efficient products are creating new opportunities for the expansion of the market for electrochromic glass.
  • However, the high manufacturing cost and lack of awareness about the benefits of electrochromic glass are some of the barriers of the global electrochromic glass market.

Market Segmentation Analysis

  • The global electrochromic glass market is segmented by an application such as windows, mirrors, displays, and others. Windows segment dominates the market in terms of energy saving, easy cleaning, and durability.
  • According to scientists at the US Department of Energy’s National Renewable Energy Laboratory (NREL), Windows could save up to 8% of a building’s total energy consumption.
  • These windows use only small amounts of electricity to switch from dark to light (100 windows use about as much energy as a single incandescent lamp).
  • Thus, make tremendous net energy saving overall. Other benefits include added privacy, convenience, and improved security.
  • Growing collaboration in electrochromic glass market for building applications would propel the market for the windows segment.
  • For instance, in June 2018, Kinestral Technologies and AGC Group announced that the joint venture companies they formed, Halio North America (HNA) and Halio International (HINT) are open for business. HNA and HINT are the exclusive sales and service agents for Halio smart-tinting glass for the building industry.

Geographical Analysis

  • Geographically, the global electrochromic glass market is segmented into North America, South America, Europe, Asia Pacific, And Row.
  • North America dominates the market owing to massive investment in R&D.
  • Also, the Asia Pacific has been expected to emerge as the fastest-growing regional market during the forecast period.
  • The key market drivers in this region include the increasing investment for infrastructural development and rapid growth of the automobile industry. The important country-specific markets in this region are China, India, Japan, and Japan followed by the rest of the Asia Pacific region.
  • The companies are more focused on the formation of strategic partnerships and collaborations as part of their business strategy to consolidate the market position. For instance, in January 2018, Innovative Glass Corp. has entered into a strategic alliance with Saint-Gobain, to become the company’s exclusive sales representative in New York, New Jersey, and Connecticut.

Competitive Trends

  • Global electrochromic glass market is fragmented with the presence of many local and international players. Gentex Corporation, ChromoGenics AB, AGC Inc., RavenBrick LLC, and Saint-Gobain Corporation are the prominent players in the global electrochromic glass market.
  • Gentex Corporation is one of the dominant companies in electrochromic glass and is enhancing the market through product launch. For instance, in January 2019, Gentex Corporation the world’s leading supplier of electronically dimmable windows (EDWs) for the aerospace industry, announced its latest generation of dimmable aircraft windows would offer as optional content on the new Boeing 777X. Further, the companies are focused on strategic agreements to expand product portfolio and strengthen the business position. For instance, in September 2018, ChromoGenics AB has signed an agreement with Regal Förvaltning AB to deliver ConverLight to an office in Uppsala. For instance, in May 2017, PPG Industries and Vision Systems have reached a commercial agreement to work together on developing new applications utilizing Vision Systems’ electronically dimmable window shading solutions for aircraft.

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