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Electrochromic Glass Market size was valued at USD 1.83 billion in 2023 and is likely to reach USD 5.68 billion by 2036, expanding at around 9.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of electrochromic glass is estimated at USD 1.96 billion. The growth of the market can be attributed to the growing usage of electrochromic glass in the automobile industry, and rising investments for research and development in smart mirror/glass technologies around the world. Along with these, the recovery of construction sector post global coronavirus outbreak is expected to bring a hike in the demand for the product in order of its high usage in displays, windows and sunroofs. This is another crucial factor predicted to drive market growth in the coming years. Furthermore, government initiatives promoting net-zero energy buildings concept is projected to offer abundant growth opportunities to the market in the near future. According to the United States Environmental Protection Agency, U.S. and Canada signed an agreement to address building energy efficiency and emissions. The collaboration will continue a 10-year research partnership aimed at building a net-zero future.
Growth Drivers
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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CAGR |
9.1% |
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Base Year Market Size (2023) |
USD 1.83 billion |
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Forecast Year Market Size (2036) |
USD 5.68 billion |
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Regional Scope |
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The market is segmented by application into commercial, residential, transportation, retail, and hospitality, out of which, the transportation segment is anticipated to witness the highest growth in the electrochromic glass market. This can be accounted to the increasing utilization of electrochromic glass for manufacturing sunroofs, and exterior and interior automatic dimming rear-view mirrors, and growing adoption of these glasses in trains. Apart from these, as electrochromic glass is a cheap and low energy alternative for sunroof panels, which is also assessed to boost the growth of the market segment in the near future. Additionally, on the basis of application, the windows segment is evaluated to acquire the largest market share owing to the high adoption rate of smart windows in North American and European continents, and rise in trend of smart homes and smart offices across the globe.
Our in-depth analysis of the global market includes the following segments:
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By Material |
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By Application |
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By End User |
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On the basis of geographical analysis, the electrochromic glass market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific industry is poised to hold largest revenue share by 2036, due to growing usage of electrochromic glass by smartphone manufacturers to develop phone screens. In addition, rising household income and increasing urbanization are also expected to drive the region’s market growth in the forthcoming years. As per the data given by the World Bank, in 2020, the total urban population of the East Asia and Pacific region reached 60.695 percent, up from 59.887 percent and 59.052 percent in the years 2018 and 2019 respectively. Moreover, the market in North America is projected to hold the largest share during the forecast period ascribing to the growing concerns associated with energy consumption in buildings, and escalating adoption of the glass in the government sector in the region.
April 2021- Marvin and Halio Inc. signed an exclusive agreement to bring Halio’s smart tinting glass to the residential market by providing homeowners premium-quality window and door products Marvin is popular for.
November 2019- Pleotint LLC announced the launch of a single pane dynamic glass, Suntuitive MonoLite, which dynamically transitions from light to dark in response to solar heat.
Author Credits: Rajrani Baghel
Copyright © 2024 Research Nester. All Rights Reserved
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