Published Date : Dec 29, 2015
High-quality energy efficient windows, made up of gas fills, coated glass, improved frames, and spacers are commonly used by the leading players in the construction industry. The feature of increasing energy efficiency of the buildings by reducing consumption of energy makes these energy efficient windows a popular choice among all vendors in the construction industry. Energy efficient windows also help in maintaining ambient temperatures inside the buildings. The use of energy efficient windows has increased globally in the last few years.
Growing energy conservation policies from the governments of various countries have propelled the global energy efficient windows market. The global market for energy efficient windows stood at US$222.15 bn in 2014 and is expected to reach US$479.9 bn by 2023 at a 9.71% CAGR between 2015 and 2023. Large-scale commercialization and growing population have increased the consumption of energy in the recent past. Building structures largely contribute towards energy consumption.
Availability of limited energy sources to fulfill the increasing demand for energy has made various nations explore new technologies to optimize consumption of energy and achieve sustainability. The very first step in achieving sustainability in buildings is to make sure that they are energy efficient. Energy efficiency not only reduces cost but also increases the value of buildings in the long run. The introduction of energy efficient windows in the global market has improved the energy efficiency of buildings in the last decade. The global energy efficient windows market has developed rapidly in the recent few years owing to high demand for power and growing commercialization.
North America is the largest market for energy efficient windows and is expected to register maximum demand in the years to come. Government bodies and regulatory bodies across all countries have introduced various initiatives and policies to promote energy efficient windows in building structures. The introduction of such initiatives has helped not only the manufacturers of energy efficient windows but also the consumers. This is the most important factor expected to drive the global energy efficient windows market in the years to come. Availability of a variety of energy efficient windows is expected to make the global market highly competitive in the years to come.