The global energy efficient windows market is anticipated to grow at significant CAGR during the forecast period (2017 to 2025), according to a report available on Radiant Insights, Inc. Growing requirement to reduce carbon emissions attributed to rising pollution is anticipated to propel demand for energy efficient windows. These windows are likely to regulate indoor temperature in residential and commercial buildings, thus reducing the need for powered temperature control methods. Less utilization of air conditioning and heating systems to maintain required temperature can reduce energy consumption and save valuable resources.
Stringent government regulations to reduce carbon emissions and conserve energy are likely to fuel growth of market. Growing adoption of advanced technology and innovative products to contribute towards environment conservation can spur market growth. Growing awareness regarding harmful effects of carbon footprints and scarcity of energy resources can augment demand for energy efficient windows. Increasing use of sustainable construction methods such as zero energy building and smart grids can stimulate growth of market during the forecast period (2017 to 2025).
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To cater to rising demand for energy efficient windows among consumers, most companies are likely to invest in R&D activities to develop advanced products. For instance, Lawrence Berkeley national laboratory recently announced its collaboration with Andersen Corporation and Alpen High Performance Products to commercialize super window. This window is expected to be twice insulation than conventional windows. It is likely to have two layers of 3 mm thick glass that can sandwich another layer of very thin glass of thickness less than 1 mm. In addition, it can offer standard low-emissivity coating on this thin central glass that can block long-wave infrared rays. Moreover, manufacturers are likely to replace argon with krypton to fill double glazed window cavity attributed to better insulation properties.
The energy efficient windows market can be segregated on the basis of product, end-users, and region. Based on product, the market can be categorized into triple low E glazing windows and double glazing windows. Double glazing segment is anticipated to witness significant growth over the forecast period. High demand for energy efficient windows equipped with double glazing among consumers owing to low pricing can fuel market growth.
Based on end-users, the market can be classified into residential and commercial. Residential sector is expected to witness significant growth during the forecast period. Rising demand for thermal insulation in residential buildings to reduce electricity consumption and temperature maintenance can influence growth of segment.
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Regional segmentation includes North America, Europe, Southeast Asia, China, Japan, and India. In North America, the market is expected to witness significant growth during the forecast period attributed to strong regulations pertaining to energy conservation. Frequent assessment of energy efficient windows installed in United States by national fenestration rating council (NFRC) to ensure product quality can fuel adoption of these windows among consumers. This, in turn, can influence growth of market in the region over the forecast period.
In India, China, and Japan, the market is expected to grow fast during the forecast period owing to high product demand from China. Increasing number of construction activities attributed to growing population can spur market growth. In addition, stringent government regulations to reduce carbon emissions and initiatives to promote energy conservation can fuel growth of market in this region.
Some of the leading companies offering energy efficient windows are Marvin, Andersen Corporation, Pella Corporation, Atrium Corporation, and Kolbe & Kolbe Millwork. Most companies are likely to adopt strategic actions such as development of innovative products and mergers & acquisitions to maintain their market value.
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