According to the new market research report “Energy-Efficient Window Market by Component (Glass, Frame, and Hardware), Application (New Construction and Renovation & Reconstruction), End-Use Sector (Residential and Non-Residential), Glazing Type, and Region – Global Forecast to 2026″, The global energy-efficient windows market size is expected to grow from USD 13.1 billion in 2021 to USD 18.3 billion by 2026, at a CAGR of 7.0% during the forecast period. Double glazed energy efficient windows are extensively being used in the renovation & reconstruction application. They hold a majority of market share in non-residential sector of construction industry.
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Energy-efficient windows are widely used in renovation & reconstruction applications. The increasing efforts from EU and US in reducing their carbon footprint is driving this demand. The countries are trying to reduce average energy consumption in households by reducing energy loss from heating and cooling through windows.
The COVID-19 pandemic resulted in a decline in construction activities in the first half of 2020 across the globe. It resulted in reduced demand for energy-efficient windows on a global level.
North America leads the non-residential energy-efficient windows market due to the rapid rate of urbanization and awareness among consumers regarding energy-efficient windows. The US government also gave tax credits to consumers that switched to energy-efficient windows. This gave a major boost to the demand during that time. As the awareness is spreading, the need for tax credit declined, and consumers are switching to energy-saving options.
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The global energy-efficient windows market size is expected to grow from USD 13.1 billion in 2021 to USD 18.3 billion by 2026, at a CAGR of 7.0% during the forecast period. Energy-efficient window is majorly used in the non-residential sector. The increasing demand for new corporate offices, schools and other public buildings is driving the market. Due to the outbreak of COVID-19, the construction industry was heavily affected and saw a great fall but is eying an upward turn with the passing of 2021. The construction industry is gaining traction with relaxation in lockdown restrictions and production halts. The global construction market is projected to grow at a rate of 6.02% from 2020 to 2024. In APAC, it is expected that 120 million square feet of office space will be built each year till 2024. This will entail huge demand for energy-efficient windows in the region.
The global energy-efficient windows market comprises double, triple, or multiple glazed windows. The energy-efficient window was discovered in the 1920s. At that time, iron-rich glass was used in a double-glazed window system to minimize the level of heat transfer. Till the 1970s, single-pane windows were majorly used, but by the 1980s, double-pane windows started gaining acceptance. In the 1980s, aluminum windows started getting replaced by more efficient wood or vinyl frames. In the 1980s, low-e glasses also started gaining momentum; these glasses offer insulation by reducing the heat gained from the sun in summers and reducing heat loss in winters. Current energy-efficient windows are advanced and more efficient are also used for esthetics and appeal.
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YKK AP, Inc. provides a variety of residential and building architectural products. It manufactures window products, which include window screens, double glazed glass, windows sashes, window frames, grills, rain shutters; door products, which include front doors and sliding doors; interior products, which include interior doors, partitions, and stairways; and exterior products, which include balconies and terraces, gates, and exterior materials. The company also provides low-E laminated glass, steel doors, aluminum frames, heat sinks, and architectural components; and components that include die-cast parts, vinyl parts, and metal fittings used in windows and doors. It is also engaged in the business of renovations.
Builders FirstSource, Inc. is engaged in the supply and manufacture of building materials, manufactured components, and construction services to professional contractors, sub-contractors, and consumers. It operates through the following segments: Northeast, Southeast, South, and West. Its products are classified into lumber and lumber sheet goods; windows, door, and millwork; manufactured products; gypsum, roofing, and insulation; siding, metal, and concrete; and other building products and services.
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