Global Electrochromic Glass Market was valued US$ 1.54Bn in 2017 and is expected to reach US$ 5.21 Bn by 2026 at a CAGR of 16.46 % during the forecast period.
Factors driving the electrochromic glass market growth are increasing demand for energy efficient solutions, control the amount of heat based on ambient temperature, emerging green building initiatives, rapid investments in setting up industrial-scale manufacture capacities, escalating technology scalability potential, and rapid emission of carbon. Also, supportive government policies and increasing concerns of the municipalities and government agencies toward environmental issues also augment the growth of the electrochemical glass market, globally. However, the high cost of electrochromic glass and lack of innovation majorly restrain the growth of the market.
The growing construction and automobile sector coupled with an increase in investments in infrastructural developments throughout the globe is expected to boost the market during the forecast years. The global market for electrochromic glass is a lucrative market and it is expected to expand at an encouraging CAGR during the forecast years. Among the various applications in electrochromic glass market, the building and construction sector is a leading segment of the market and is expected to continue dominating over the forecast period. This growth is attributed to the increased demand for electrochromic glass from offices, hospitals, and residential buildings. They are extensively used in windows, doors, sunroofs, and displays among others. Building and construction followed by automotive is the leading segment because of the growing application of rearview mirrors, sunroofs, and windshields among others.
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Europe held the largest share in 2016 and is expected to maintain its dominance in the near future. Consumers in the developed nations such as the U.S., Canada, and European countries including, Germany, the U.K., France, and Italy are increasingly focused on energy conservation that is lost due to heat and bad natural lighting transmitted through the conventional windows. Electrochromic glass has gained significant popularity and adoption because of the presence of some of the key automotive players adopting these materials in Europe for better consumer comfortability. Emerging economies are expected to witness high growth because of huge untapped potential in Asia Pacific countries because of the huge population base and growing investments in the architectural development in the region. However, the high initial cost for manufacturing this glass and volume centered production costs are expected to be among the major factors hampering the electrochromic glass market growth.
Key players in the international electrochromic glass market are forecast to tap into other types of applications which are not yet explored, although electrochromic glass has already been used in a variety of different sectors. Leading companies like Saint-Gobain S.A., SAGE Electrochromics, View Inc., Asahi Glass Co. Ltd., E. I. du Pont de Nemours and Company, and Smart glass International Limited are envisaged to take an authoritative position in the market.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by type, service, components, and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the electrochromic glass market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Scope of Global Electrochromic Glass Market
Global Electrochromic Glass Market, By Material
• Asia Pacific
• Middle East & Africa
• South America
• Magna Glass & Window, Inc.
• Hitachi Chemical Co. Ltd.
• Research Frontiers Inc.
• Corning Incorporated
• Kinestral Technologies Inc.
• Polytronix, Inc
• Smartglass International
• Pleotint, LLC
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