The growth of the electrochromic glass market has been significant over the last few years due to increasing demand for efficient energy management and smart building solutions. Electrochromic glass or smart glass is capable of changing its optical attributes after receiving electric stimulation thereby controlling the amount of light and heat that enters into a building. This breakthrough technology has spread across various end use industries like construction sector, automobile industry, aerospace among others.
Within construction sector, electrochromic glass will be increasingly used because of growing concerns about sustainable buildings and energy conservation. It also goes a long way in reducing cooling loads by dynamically controlling solar gain resulting from sunlight penetration into a structure hence lowering HVAC consumption levels for cooling air flow systems. In the wake of strict energy efficiency policies being introduced globally, architects as well as developers are including this product in their designs to meet these requirements.
Automotive industry has also played a very important part in the growth of Electrochromic Glass Market. Smart glass incorporation in automotive windows presents various advantages such as increased privacy, reduced glare and improved passenger’s comfort. Furthermore, electrochromic technology is being used by car makers to improve driving experience with provision of a user-controlled transparency for windows. This adds some luxury and goes hand-in-hand with the growing trend of connected and smart vehicles.
Also, the aerospace sector has experienced an increase in adoption of electrochromic glass for aircraft windows. Smart glass provides sunlight control and minimizes glare which are particularly valuable in aviation hence advancing safety and comfort of passengers as well as staff members. As airlines seek lightweight materials that can enhance fuel efficiency, electrochromic glass becomes a possible solution addressing both aesthetic and functional aspects of airplane designs.
Â
Source: MRFR analysis
The electrochromic glass market is segmented across five regions: Europe, Latin America, North America, Asia Pacific, and the Middle East & Africa. Among these, North America followed by Europe holds a major share of the market and is expected to be a dominant region with an encouraging CAGR during the forecast period. The Asia Pacific is anticipated to be the fastest growing market during the forecast years. The rapid growth of the automobile industry along with the growing investment in infrastructural development is fuelling the growth of electrochromic glass in the developing countries of Asia Pacific. China, India, and Japan are the largest consumers of electrochromic glass in this region. North America is a major market of electrochromic glass. The developed end-user industries such as construction, automotive, and aerospace among others are significantly driving the market growth. Moreover, the growing investment in the renovation of infrastructure coupled with the high adoption rate is other factor growing the demand for electrochromic glass.
The European market is mainly driven by the developed automobile and marine industry. Moreover, the growing government encouragement in the development of green buildings has augmented the use of electrochromic glass, especially in countries such as Germany, France, and Belgium.
The global electrochromic glass market is segmented into the material, application, and end-user industry. On the basis of the material, the market is segmented into transition metal oxide (TMO), nanocrystal, viologen, polymer, reflective hydride. On the basis of the application, the global electrochromic glass market is segregated into windows, mirrors, displays, doors and others. On the basis of the end-user industry, the market is bifurcated into building & construction, automotive, aerospace, marine, and others.
Some of the prominent players operating in the global electrochromic glass market are SAGE Glass, Inc.(U.S.), ChromoGenics AB (Sweden), RavenBrick LLC (U.S.), Asahi Glass Company (Japan), Gentex Corporation (U.S.), PPG Industries (U.S.), Magna Glass & Window, Inc. (U.S.) , Guardian Industries Corporation (U.S.), PPG Industries (U.S.), and View, Inc. (U.S.) among others
Geographical Analysis
The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.Recent Development
Intended Audience
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)