Market Research Future published a research report on “Electrochromic Window Market Research Report - Global Forecast till 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
The global electrochromic window market is expected to register a CAGR of 14.2% during the forecast period of 2020–2026.
Electrochromic is a technique where the color of a substance is controlled by applying voltage. A window with electrochromic glass can block ultraviolet (UV) and infrared light automatically. An electrochromic window is coated with multiple thin layers of glass material, one over the other. Electrochromic technology has huge environment-related benefits. One of its advantages is it reflects the light, reducing the need for air conditioning (AC), which indirectly lowers the high cost of installing AC and the day-to-day cost associated with its maintenance. However, electrochromic window installation is expensive than installing conventional windows due to the use of electrodes and metal coatings. Electrochromic glass requires the installation of new glass as it does not apply the film on the existing glass and is applicable on exterior glass only. As voltage is applied to the electrodes, the ions migrate through the separator to the outermost electrode, and then they make it reflect light which automatically turns it opaque.
MRFR recognizes the key players in the global Electrochromic Window Market. These include Click Materials, AGC Inc, Corning Inc, Saint-Gobain, Vitro Architectural Glass, View Inc, RayenBrick, Polytronix, Gentex Corporation, Diamond Glass, Scienstry, Pleotint, and Kinestral Technologies. These players focus on innovation and, thus, invest in research & development to present a cost-effective product portfolio. There have been recent mergers & acquisitions among the key players, which is a strategy the business entities leverage to strengthen their reach to the customers.
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The global electrochromic window market has been segmented based on product, application, and region.
By Product, the global electrochromic window market has been segmented into polymer laminate EC and all solid-state EC.
By application, the global electrochromic window market has been segmented into residential and commercial building.
By region, the electrochromic window market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
North America dominated the electrochromic window market during the forecast period. However, Asia-Pacific is expected to show the highest CAGR during the forecast period. Europe is the second-largest regional market in terms of revenue. The region comprises the UK, Germany, France, Spain, and the rest of Europe. The key factor behind the growth of the electrochromic window market in the UK is its flexible building material used in the commercial, hospitality, healthcare, and residential sectors. These windows are electronically switchable that can be adjusted according to the customer’s requirement. Moreover, the UK government is encouraging the use of EC windows due to their eco-friendly nature. Germany is registering increased demand for electrochromic windows for conservator roofing systems, wherein polycarbonate glazing sheets were previously used. Several other countries, including France, Sweden, and the Netherlands, are registering a demand for EC windows to be used in the residential sector.
Asia-Pacific significantly falls behind Europe in terms of shares in the global electrochromic window market. However, the regional market is expected to show the highest growth rate during the forecast period; China and Japan are anticipated to be the major contributors to the market. The growth of the electrochromic window market in Asia-Pacific is also attributed to the growing number of construction and architectural projects. Government support on using energy-efficient building materials is also boosting the electrochromic window market. Most of the players operating in the electrochromic window market are start-ups in this region trying to compete with established players in Asia-Pacific. As the challenges to new entrants in the market are high, the growth of the regional market is expected to be limited. The governments of several Asian countries have made stringent regulations for adopting Industry 4.0. This is expected to indirectly impact the growth of the regional market due to the high energy efficiency of glass building materials.
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