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Commercial and residential sector to push energy efficient windows market growth over 2018-2024

Author : Ronak Bora | Published Date : 2019-03-28 

Energy Efficient Windows Market will be valued above USD 6 billion in 2015, with industry anticipating to grow at 10% by 2024. Rising energy conservation demand accompanied with increasing awareness to minimize carbon footprints is anticipated to be key factor propelling industry growth.

Strong global drive for reducing energy consumption along with rising awareness to curb GHG emissions will influence energy efficient windows market growth over the years to come. For instance, energy efficient windows help in the energy conservation for heating and cooling activities across residential constructions.  According to Global Market Insights, Inc., “Energy Efficient Windows Market value is anticipated to hit USD 15 billion by 2024.” Commercial and residential constructions account for a major portion of carbon emissions, thereby favorably influencing the global industry trends over the next few years. In addition to this, the booming construction sector is expected to contribute substantially toward the energy efficient windows industry revenue in the near future.

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Canada energy efficient windows market size was valued at over USD 800 million in 2015. Increasing homeowner awareness in the country is likely to drive industry growth.

U.S commercial applications were valued over USD 700 million in 2015. The country is still somewhat recovering from economic downturn, which is forecast to positively impact on energy efficient windows for commercial application in the country.

Europe is forecast to reach USD 3 billion by 2024. Increasing directives and measures imposed by the European Union to minimize annual energy consumption is forecast to be key factor propelling regional growth.

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Energy efficient windows finds extensive application across commercial and residential sectors. Commercial application is expected to grow at a CAGR of 10% over the coming timeframe, due to favorable government policies supporting erection of green structures plus high rate of commercialization across the APAC regions. Rise in the number of construction activities along with high consumer awareness regarding energy conservation is forecast to boost energy efficient windows market revenue in the residential sector.

Energy efficient windows industry is highly competitive and industry participants are expected to dominate the global market share through product development as well as high R&D investments. Major market players include Pella Corporation, Milgard Manufacturing Incorporation, Andersen Corporation, Marvin Windows & Doors, Associated Material Incorporation, Soft-Lite, Atrium Corporation, JELD-WEN Incorporation, Kolbe & Kolbe Millwork Company Incorporation, and YKK AP Incorporation.

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Global energy efficient windows market share is fairly competitive. Major industry participants include Marvin Windows & Doors, Milgard Manufacturing, Soft-Lite, Pella, Atrium, Associated Material, Jeld-Wen, YKK AP, Kolbe & Kolbe and Andersen.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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