Nov 26, 2020, 08:00 ET
PORTLAND, Ore., Nov. 26, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Electrochromic Glass Market by Application (Windows, Mirror, and Display) and End-User Industry (Construction, Automotive, Aerospace, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global electrochromic glass industry was estimated at $1.4 billion in 2019, and is anticipated to hit $2.6 billion by 2026, registering a CAGR of 9.0% from 2020 to 2027.
Drivers, restraints, and opportunities-
Rise in construction applications of electrochromic glass and government incentives for installing energy saving solutions drive the growth of the global electrochromic glass market. On the other hand, high price of the glass impedes the growth to some extent. However, surge in demand from end-use industries is expected to create multiple opportunities in the industry.
Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/1023
- The outbreak of COVID-19 has impacted the global electrochromic glass market badly. The global lockdown has led to substantial decrease in the demand for electrochromic glasses in non-residential buildings such as offices, hospitals, and hotels all over the world.
- Organizations manufacturing these glasses have been seen to report difficulties in procuring raw materials due to a number of factors such as late conveyances and lack of proper shipping order. Nevertheless, with several government bodies coming up with relaxations on the existing regulations, the market is projected to gradually retrieve its position in terms of revenue.
The windows segment to dominate by 2027-
Based on application, the windows segment accounted for more than half of the global electrochromic glass market share in 2019 and is expected to lead the trail by the end of 2027. Renovation of old office buildings and institutions are expected to offer fresh opportunities for the growth of the segment. The display segment, on the other hand, would register the fastest CAGR of 10.9% throughout the forecast period. Increase in trend of smart homes and smart offices are demanding more smart technologies such as electrochromic smart glass displays which, in turn, augments the segment growth.
Get Detailed COVID-19 Impact Analysis on the Electrochromic Glass Market @ https://www.alliedmarketresearch.com/request-for-customization/1023?reqfor=covid
The construction segment to maintain the dominant share-
Based on end-use industry, the construction segment contributed to more than one-third of the global electrochromic glass market revenue in 2019 and is anticipated to rule the roost till 2027. This is due to rise in the drift to use electrochromic glazing in office projects and airport terminals. Simultaneously, the automotive segment would portray the fastest CAGR of 9.9% during the study period. The use of electrochromic glass in automotive parts ensure reduction of unwanted light & glare and build up heat inside the vehicle, thereby, making them preferable over normal glasses. This factor has propelled the segment growth.
Europe, followed North America, garnered the major share in 2019 –
Based on geography, Europe, followed by North America, held the highest share in 2019, garnering nearly one-third of the global electrochromic glass market, owing to the presence of key end-use industries such as major automotive companies and construction companies in this province. At the same time, the Asia-Pacific region would manifest the fastest CAGR of 9.9% from 2020 to 2027. Rise in the practice to develop smartphones containing electrochromic glasses has driven the market growth in this region.
Key players in the industry-
- ChromoGenics AB
- View Inc.
- Compagnie de Saint-Gobain S.A.
- Hitachi Chemical Co. Ltd.
- Kinestral Technologies Inc.
- Pleotint LLC
- AGC Inc.
- Polytronix Inc.
- Research Frontiers Inc.
- Smartglass International Ltd.
Interested in Procuring This Report? Visit Here: https://www.alliedmarketresearch.com/electrochromic-glass-market/purchase-options
Avenue Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
Advanced Glass Market: Global Opportunity Analysis and Industry Forecast 2020–2027
Photosensitive Glass Market: Global Opportunity Analysis and Industry Forecast, 2018 - 2025
Recycled Glass Market: Global Opportunity Analysis and Industry Forecast, 2020–2025
Smart Glass Market: Global Opportunity Analysis and Industry Forecast, 2014-2022
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: 1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow Us on: LinkedIn Twitter
SOURCE Allied Market Research
Share this article