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(IT-NEWSWIRE.COM, April 15, 2020 ) Market Overview
• The Global Smart Window Market is expected to grow at a CAGR of 14.11% during the forecasting period (2019-2026).
• Smart windows or switchable glass is a glass whose light transmission properties can be altered when voltage, light or heat is applied. Generally, the lens changes from translucent to transparent, by blocking some wavelengths of light to letting light pass through.
• This glass is made up of special glass which changes light transmittance properties. The characteristics of these glasses changes based on different ambient conditions with the help of heat voltage or lightly applied. Smart windows do reduce costs for air conditioning, heating, and lighting among others and also block UV light.
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Drivers and Restraints
• The advantageous features of Smart windows such as reduction of cost for air conditioning, easy to clean, more durable compared to conventional glasses and also block UV light are driving the market.
• Moreover, these glasses are fuel efficient and have low carbon emissivity, and hence these are incorporated mainly in personal vehicles.
• Demand for smart glass and windows are expected to increase in the automotive, marine, power generation, and construction sectors. Bright windows market is projected to grow because of the growth in the construction industry, increasing automotive production, and rising investments in infrastructure projects.
• Moreover, growth in restoration activities of commercial and residential buildings are providing adequate replacement opportunities as the current buildings lack energy-efficient infrastructure.
• According to the U.S. Department of Energy, 25% to 35% of energy wasted in buildings is due to inefficient windows. The California Energy Commission estimates that around 40% of a typical building’s cooling requirements are expected to solar heat gain through windows and smart windows can reduce energy needs by up to 40% by regulating the transmission of visible and near-infrared light.
• Recently smart glasses are installed at the Bellavista Eye Clinic in Switzerland as well as the Swiss International Scientific School in Dubai.
• Even the technology advancements and further researches help in the growth of this market. For instance, in August 2017 Michael McGehee, professor of materials science and engineering at Stanford University says New windows can switch from transparent to opaque and back again in under a minute—a significant improvement over current versions that dim to reduce cooling costs in some buildings. These windows technology has the potential to enhance the lighting in rooms or vehicles and save about 20% in heating and cooling costs.
• However, smart windows are not yet in implementation completely. Furthermore, the high cost of installation can also hinder the growth of global bright window market. For instance, the Boeing 787 Dreamliner airplane employs so-called electrochromic windows, which require an outside power source to darken. But such windows have failed to make a broad impact in the building market, because of their higher cost, inconsistencies in their demand for external electrical power.
Segmentation Analysis
• The Smart window market is segmented by application into three major segments: construction (commercial, residential), transportation, and medical applications. Of all these the automotive part is a critical end-user segment for this market and is predicted to rise at a CAGR of xx% by 2026.
• It is primarily due to factors such as safety, design and fuel efficiency. Automotive manufacturing companies are ready to implement smart windows technology to attain fuel-efficient vehicles by reducing weight.
• For instance, in 2016, the new Mercedes-Benz SLC incorporated the Suspended Particle Devices (SPD) technology developed by Research Frontiers, Inc. and Daimler AG and BMW AG have installed smart glass in sunroofs and windows in their premium cars.
• Even an increase in the sale of electric vehicles also drives the automotive segment. The installation of smart glass windows in electric vehicles helps in maintaining the inner temperature of cars. By a decrease in the A/C load, electric vehicles can extend their travel distance as well.
• For instance, from 2016 to 2017, the sales of EVs has increased by more than 57%. Also, solar panel sunroofs installed in these vehicles convert solar energy from the sun into electrical energy and send the electrical power to a battery in the motor vehicle, which is an extra advantage.
• Based on the technology market is segmented into electrochromic, thermochromic, SPD and others. Electrochromic technology occupies the significant segment among all electrochromic occupies the major section because electrochromic windows help to eliminate the need for window coverings such as shades or blinds.
• Some electro chromic windows can automatically monitor and control the amount of light and solar energy that can pass through a window to save the power and protect furnishing from UV damage.
• For instance, Ferrari 575M Super America featured an electrochromic smart glass panel roof. Electrochromic smart glass is used in the fabrication of Boeing 787 Dreamliner windows, and the Boeing 787 Dreamliner features electrochromic windows which replace the pull-down window shades on existing aircraft.
Geographical Share
• This report segments the market by geographic region which includes North America, South America, Europe, Asia-Pacific, and ROW. North America is the major region in the global smart window market followed by Europe.
• The global smart window market in North America is projected to grow at a CAGR of XX% in the forecast period. Immense technology development along with supportive government mandates for energy conservation are primary reasons that are driving the market in North America.
• For instance, in July 2017, according to US Energy Information Administration, 30 states have implemented energy efficiency policies—either mandated requirements, voluntary goals, or pilot programs—designed to lower the growth of electricity consumption by using electricity more efficiently. Seven of these states have created new and updated existing energy efficiency standards within in a year.
Competitive Trends
• Prominent players in global smart window market are Asahi Glass Co. Ltd., View Inc., Hitachi Chemicals Co., Ltd., Pleotint LLC, PPG Industries Inc., Raven brick LLC, Smart Glass International Ltd., SAGE Electrochromics Inc., Research Frontier Inc., Saint Gobain S.A., and others. Product launches, partnerships, and expansions are some of the strategies adopted by players to increase their market share. For instance, in May 2012 Saint Gobin S.A. acquired
• SAGE Electrochromics which is leading company in energy saving windows.
• In December 2017, Pleotint LLC has announced a distribution partnership with Portella Steel Doors and Windows, which enables the Austin, TX-based company to offer Suntuitive glass with its steel doors and windows.
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