Energy Efficient Windows Market at a CAGR of 9.71% from 2015 to 2023
Kolbe & Kolbe Millwork Co., Inc., Marvin Windows and Doors, Inc., Milguard Manufacturing, Inc., and Pella Corporation are some of the key producers of energy efficient windows from a global perspective, reports Transparency Market Research in a new study. These players held large shares in the global energy efficient windows revenue in 2015 and are expected to dominate the market for the coming years as well.
The competitive scenario in the energy efficient windows market is teeming with strategic initiatives high due to the presence of a large number of players. Most key players are consolidating their position by forming long-term strategic partnerships.
The threat of new entrants to energy efficient windows production is expected to be high over the next few years, due to the increased government support given to the players in many countries. Additionally, there already exists a large base of investors ready to provide capital to promising players in energy efficient windows.
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Energy Efficient Windows Seeing Greater Demand Due to Growing Energy Saving Regulations
A large number of countries are in the midst of regulatory reforms that will cut down their national carbon footprint. Countries such as China, Russia, the U.S., and most European nations are buckling down on energy efficiency improvement methods. China for instance has set a goal of cutting down its carbon footprint by 40% to 45% between 2005 and 2020.
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Energy efficient windows form a crucial factor in this endeavor, thereby offering players not only a higher demand from these regions, but also a greater level of support from governments and private investors.
High Initial Investments Dilute Interest in Energy Efficient Windows
“Energy efficient windows can be an intensive investment, as customers have found out,” states a TMR analyst. “The cost of energy efficient windows can rage anywhere between US$115 to US$1,000 for every square meter including the cost of labor. Therefore, the higher quality energy efficient windows are somewhat out of bounds for several construction companies and users, especially in the emerging economies.”
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The cost of energy efficient windows can rise this fast with quality due to the use of expensive raw materials, such as krypton gas. Additionally, the use of a few windows will not make a significant enough contribution to the energy savings of a building. For the most optimum effect, all the windows of a building need to be energy efficient windows. Lower cost energy efficient windows generally use argon as an insulator, which reduces the efficiency of the window by a significant degree.
Emerging Economies Push for Double Glazing Windows, Attract Energy Efficient Windows Player Focus
The global revenue from energy efficient windows is expected to progress at a CAGR of 9.71% within a forecast period from 2015 to 2023. This market is expected to reach US$286.5 bn by the end of 2016 and US$479.9 bn by 2023.
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By volume, 3.12 bn square meters of energy efficient windows are expected to be consumed by 2023. Emerging economies are creating a high demand for double glazing windows, a segment which is expected to generate close to US$345 bn by the end of 2023.
North America is expected to keep its leading position in revenue generated as well as volume consumed between 2015 and 2023. By the end of 2023, this region is expected to hold 58.41% share by volume in energy efficient windows.
The information presented in this review is based on a Transparency Market Research report, titled, “Energy Efficient Windows Market – Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 – 2023.”
