The global "Energy-Efficient Window Market size is expected to grow from USD 13.1 billion in 2021 to USD 18.3 billion by 2026, at a CAGR of 7.0% during the forecast period. Energy-efficient window is majorly used in the non-residential sector. The increasing demand for new corporate offices, schools and other public buildings is driving the market. Due to the outbreak of COVID-19, the construction industry was heavily affected and saw a great fall but is eying an upward turn with the passing of 2021. The construction industry is gaining traction with relaxation in lockdown restrictions and production halts. The global construction market is projected to grow at a rate of 6.02% from 2020 to 2024. In APAC, it is expected that 120 million square feet of office space will be built each year till 2024. This will entail huge demand for energy-efficient windows in the region

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Impact of COVID-19 on global energy-efficient windows market

According to the data provided by the Glass Alliance Europe, the overall glass production in Europe reached a volume of 35.85 million tonnes, in 2020, with a decrease of 2.6% compared with 2019 (36.80 million tonnes). The glass market suffered from the COVID-19 pandemic at different levels for each glass subsector. The flat glass production in Europe decreased from 11.4 million tonnes in 2019 to 10.8 million tonnes in 2020. Restrictions in the construction and renovation business also saw a halt which directly affected the demand for energy-efficient windows.

The non-residential sector accounts for the largest market share in the global energy-efficient windows market during the forecasted period in terms of value

North America leads the non-residential energy-efficient windows market due to the rapid rate of urbanization and awareness among consumers regarding energy-efficient windows. The US government also gave tax credits to consumers that switched to energy-efficient windows. This gave a major boost to the demand during that time. As the awareness is spreading, the need for tax credit declined, and consumers are switching to energy-saving options.

Europe has been actively involved in adopting energy-efficient windows and is planning to double its renovation rate in the coming 10 years. It is planning to switch completely toward energy-efficient windows, which would allow it to reduce its CO2 emissions by more than 20%.

COVID-19 had a major impact on the energy-efficient windows market in the non-residential sector. During lockdowns, companies have cut short on their expenses. This caused them to hold back on renovation and reconstruction expenses. APAC is slowly accepting energy-efficient windows in the non-residential sector due to increasing efforts in cutting short their carbon emissions.

North America is expected to account for the largest market share in the energy-efficient windows market during the forecast period.

North America accounts for the biggest share of the global energy-efficient windows market. Europe is the second major consumer of energy-efficient windows. However, the COVID-19 outbreak has affected the demand for energy-efficient windows in the region. On the positive side, support packages offered by governments of various countries will help to maintain the liquidity in the energy-efficient windows market. Such initiatives coupled with recovery in the construction industry will increase the demand for energy-efficient windows in North America and Europe region.

The key players in the energy-efficient windows market are YKK AP, Inc. (Japan), Jeld-Wen Holding, Inc. (U.S.), and Builders FirstSource, Inc. (U.S.) are some of the key players in the energy-efficient windows market. Deceuninck NV, PGT, Inc., and Apogee Enterprises Inc. are among others. These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the energy-efficient windows market. These players have taken different organic and inorganic developmental strategies over the past five years.

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