The global energy-efficient window market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX % during the forecast period (2022-2029).
Energy-efficient windows help reduce artificial heating and cooling in a building. The three main components of the windows are the glass or glazing, the frame and the related hardware. The components provide significant insulation from exterior heat loss and gain, minimizing the building's energy use. Two key factors influence the energy efficiency of windows.
It includes the solar heat gain coefficient (SHGC), which determines how much solar heat enters the window and the U-factor, which determines how well the window insulates. Every energy-efficient window product is certified by the National Fenestration Rating Council (NFRC) of U.S. based on SHGC and U-factor, qualifying it for the Energy Star Rating.
An increase in development around the world, the acceptance of green buildings and a rise in demand for energy-efficient infrastructure for buildings fuel the growth of the global energy-efficient windows market. Furthermore, consumers’ improving level of living has aided industry progress.
Increasing costs and demand for electricity creates the need for energy-efficient windows.
The installation of energy-efficient windows, which lowers energy and air conditioning costs, is the main driver of the energy-efficient market's growth. It might save up to 15% on your yearly air conditioning bills by installing energy-efficient windows. Furthermore, as the world's population grows and people rely increasingly on electrical items, artificial air conditioning and other energy-intensive gadgets, the demand for energy-efficient products grows.
Energy-efficient windows help decrease electricity consumption waste by cutting off the air outlet from within the room. As a result, it's easier to control the temperature of a space and reduce the usage of artificial air heating or cooling, boosting the demand for energy-efficient windows.
Rising use for the energy-efficient window in the non-residential sector
Non-residential structures that use energy-efficient windows include businesses, hotels, hospitals, educational institutions and airports. Large commercial structures are built with energy efficiency in mind. Energy-efficient windows appear to be a reasonable choice because these constructions are also made to break even over time.
Emerging markets are seeing a spike in interest in green buildings in the commercial development industry. The need for such structures has risen recently in Europe and North America. In developing countries, the growth of educational institutions and hospitals is increasing, resulting in a rise in the need for energy-efficient windows in the non-residential end-use sector.
Lack of awareness among consumers
The market for energy-efficient windows has a promising future due to substantial growth in the construction industry. On the other hand, people in some developing or developing countries in Asia, Africa and South America are less aware of the benefits of these window systems. There is a lack of knowledge about just how energy efficient a building is. Citizens in such countries are discouraged from purchasing insulating items due to this. Many architects and engineers in these countries ignore the building's energy efficiency while developing commercial or residential infrastructure.
They are unaware of the cost savings of employing energy-efficient window materials to construct low-energy residences. Many of the benefits of energy-efficient windows, such as improved thermal and lighting performance, reduced condensation and less fading of interior furnishings, are unknown to builders and consumers; as a result, they frequently ignore building codes for weather and use the wrong type of window, which may be more costly or ineffective.
According to Glass Alliance Europe estimates, overall glass output in Europe reached 35.85 million tonnes in 2020, down 2.6 percent from the previous year (36.80 million tonnes). Depending on the glass subsector, the COVID-19 outbreak had a different influence on the market. Europe's flat glass output fell from 11.4 million tonnes in 2019 to 10.8 million tonnes in 2020. As a result of the restrictions, construction and remodeling activities came to a halt, which directly influenced the demand for energy-efficient windows. The lockdown also reduced the disposable income of many households, lowering their purchasing power. For these reasons, the global market for energy-efficient windows has suffered.
COVID-19 had a negative influence on the construction industry. Due to constraints on non-essential activity, the industry nearly came to a halt worldwide. Global investment in the energy efficiency of the building industry climbed by 2% to US$ 152 billion in 2019, according to the International Energy Agency (IEA). However, due to the COVID-19 pandemic, various building construction activities, such as new and ongoing projects, workplace productivity and contract value, are predicted to drop by 24% in 2020 compared to 2019.
By end-user, the energy-efficient window market is segmented into non-residential and residential.
Rising residential projects and growing consumer awareness
Due to rising consumer awareness, residential applications are projected to dominate demand. The market for home energy-efficient windows could be driven by expanding residential building projects and improved customer awareness about energy conservation. Residential buildings contribute to more than 20% of total energy use in U.S. Furthermore, they account for 25% to 30% of total home heating and cooling energy use. As a result, more electricity is consumed to maintain a reasonable temperature in the space. Energy-efficient window installation helps to reduce cooling and heating energy usage.
Improved customer living standards and significantly varied temperatures throughout different zones have driven demand for air conditioning and heating systems in residential constructions. In Greece, for example, air conditioning is installed in about 90% of homes. Greater air conditioning equals more energy consumption, which adds to greenhouse gas emissions. The ability of the devices to maintain room temperature will reduce emissions while also cutting electricity consumption.
The rising government initiatives support in North America
The market for energy-efficient windows in U.S. will continue to grow healthy over the forecast period. In the region, there has been a lot of government backing for promoting energy-efficient products. The Office of Energy Efficiency and Renewable Energy (EERE) at the Department of Energy, for example, has made considerable investments in R&D in the Building Technologies Program (BTP). BTP is working in the building sector of U.S. economy to enhance energy efficiency and minimize carbon emissions.
U.S. government has developed a new energy code known as 'Energy Star' to lower electricity consumption. Building consumption is influenced by lighting, ventilation, space cooling, refrigeration and water heating. The government has granted subsidies to encourage energy-efficient windows to cut carbon emissions. As a result, Energy Star accounts for more than 80% of overall window sales. Energy-efficient windows are starting to catch on in Canada and Mexico, but they will take time to gain traction.
To stay up with technological changes, several companies in the energy-efficient window industry have adopted product launches as a major development strategy to expand their energy-efficient product line. In February 2019, Jeld-Wen, for example, launched FiniShield exterior finishing technology, which improves vinyl performance and customization options. FiniShield is a durable, consistent, energy-efficient and aesthetically pleasing external finishing system. The players also adopt a corporate expansion strategy to improve their position in the energy-efficient windows market. In October 2019, PGT Innovation, for example, opened a new 24,500 square-foot iLab in North Venice. Customers who want their windows and doors customized may count on the iLAb team to deliver.
Major global energy-efficient window market companies include YKK AP, Inc., Jeld-Wen Holding, Inc., Builders FirstSource, Inc., Deceuninck NV, PGT Innovations, Apogee Enterprises Inc., Schott AG, Ply Gem Holdings, Inc., Central Glass Co. Ltd and Associated Materials LLC.
Overview: PGT Innovations began in 1980 when founders Paul Hostetler and Rod Hershberger sketched a vinyl porch enclosure on a napkin. They quickly established the Vinyl Tech company in Venice, FL and began producing the product with just three employees. The company expanded its original venture of porch enclosure goods and began manufacturing windows seven years later, in 1987. PGT Innovations was listed on the NASDAQ stock exchange in 2006. PGT Innovations is now listed on the New York Stock Exchange, with roughly 3,400 workers, five facilities and hundreds of products across seven brands & history as the nation's leading impact-resistant window and door maker.
Product Portfolio: Anlin Windows & Doors, a division of the corporation, is the energy-savings star, with products developed and built for superior performance, security and comfort. Anlin Catalina Series windows offer beauty, durability and exceptional thermal performance. Anlin Del Mar Series windows are completely loaded with innovative feature enhancements for the highest energy efficiency.
Key Development: PGT Innovations stated in September 2021 that it had inked a deal to buy Anlin Industries, also known as Anlin Windows & Doors, for US$126 million. Anlin Windows & Doors, based in Clovis, California, is a top western region brand in the vinyl replacement window and door industry, according to dealers and customers. For over 20 years, Window & Door Magazine has classified Anlin Windows & Doors as a Top 100 Manufacturer and a 5-star consumer-reviewed replacement vinyl window manufacturer.
The global energy-efficient window market report would provide access to an approx. 61 market data table, 52 figures and 202 pages.
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