HYDERABAD, India and MINNEAPOLIS, February 25, 2016 /PRNewswire/ --
According to the Market Research Report "Smart Windows Market Analysis & Forecast: By Technology (Passive, Active On-Demand, Photochromic, Thermochromic, PDLC, SPD, EC); By Application (Automotive, Commercial, Residential, Aerospace) - With Forecast (2015 - 2020)", published by IndustryARC, estimates the smart windows market to reach $9.1 Billion at a CAGR of 22.9% till 2020
Browse - 46 Market Tables, 44 Figures spread through 206 Pages and an in-depth TOC on "Smart Windows Market"
Smart Windows incorporates a laminated glass or smart glass or switchable glazing which controls the amount of glare, privacy, light and heat transmitted manually or automatically. To achieve this, smart windows make use of technologies such as photochromic, liquid crystals, suspended particle displays and electrochromics. Usage of blinds and curtains can be ideally replaced by smart windows as they possess certain special characteristics such as being dimmable, switchable and projectable. The current market report consists of detailed study on Smart Windows Market, which is forecast between 2014 and 2020 based on several segments including type of technology, applications, thin film materials, transparent conductor materials and geography. According to a recent study from IndustryARC, the Smart Windows Market in 2015 had Revenues of around $4.37 Billion and is estimated to increase to $9.1 Billion by 2020 at a High CAGR. The Market for smart windows using electrochromic technology is increasing due to its features such as low technological risk, relatively low cost and long product life.
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The automotive segment is a key end user segment for this industry and is estimated to grow at a CAGR of 22.9% by 2020. As of now, only the top OEM brands such as BMW, Mercedes are integrating smart windows for car roofs and side lamps for some specific models. But in future, it is estimated that the basic / standard model cars also would come up with these types of technologies. The High Market Growth prospective for Smart Glass Products in Automotive Industry is primarily due to factors such as safety, design and fuel efficiency. Automotive manufacturing companies are ready to implement the smart windows technology to attain fuel efficient vehicles by reducing weight.
Another potential market in the automobile market is the photovoltaic (PV), which could support the supplementary systems for the vehicles. The vehicles can be cars, trucks and any other vehicles which run electrically with a battery. These vehicles can be generally electric vehicles and hybrid vehicles, in which the energy collected by the glass panels can charge the battery and the car or bus can run through the induced electricity. The photovoltaic integrated glass can ideally thus help in providing the back-up to the vehicles. The applications can be increased up to a large extent based on the benefits provided by the PV glass in the automobiles and trucks. The smart glass technologies are hence an appropriate complementary fitting for electric and hybrid vehicles as they are environmental friendly also.
The main constraint for the smart windows in the automobile industry is the regulatory systems in some countries which restrict the use of the dark shade windows as it is considered as illegal. Few government regulations allow only limited access to shaded films on the cars, trucks and buses due to social issues and legal action is taken if they are against the rules. As a long-term and economical solution for conserving energy, window film would be appropriate in the regulation for the buildings as it can consume the energy from sunlight in summer and dissipate the heat inside in to the building in the evenings or during winter, as well as allow the normal light without the harmful effect of UV exposure.
The smart windows market has been segmented based on its technology into three divisions. The Basic Three Technologies used by Smart Windows are:
- Passive Technology
- Active on Demand
The Passive Technology includes Passive Retrofit, Passive Thermochromic and Passive Photochromic. Active on demand involves Polymer Dispersed Liquid Crystals (PDLC), Suspended Particle Devices (SPD) and Electrochromic (EC). Smart windows incorporated with passive technology have the highest growth rate and is estimated to reach $1.5 billion by 2020, at a CAGR of 32.2%.
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The Major Players in the Global Smart Windows Market are:
- Saint-Gobain S.A.
- DuPont Chemicals Company
- Asahi Glass Co.
- Hitachi Chemical Co., Ltd.
- Corning Inc.
- Guardian Industries
Subsequently, the Market thoroughly covers all the related Applications which include:
- Commercial buildings
- Residential buildings
The last Segment in the report provides a Complete Analysis of Smart Windows Market based on following Geographic Areas:
- Asia-Pacific (APAC) and
- Middle East & Latin America.
These Geographies are further classified into Countries holding prominent share in the Market for the forecast period 2015-2020.
- It is forecast that North America will occupy a Majority share among all the Regions and the market is estimated to reach $2.5 Billion by 2020.
- Europe occupies the second position and is estimated to grow at a CAGR of 20%.
- APAC, Middle East and Latin America are the growing markets which would be having more demand in the future.
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