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Global Skylight Market (2020 to 2025) - Featuring VKR Group, Fakro & Kingspan Light + Air Among Others

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News provided by

Research and Markets

Feb 21, 2020, 05:30 ET

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DUBLIN, Feb. 21, 2020 /PRNewswire/ -- The "Skylight Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.

The global skylight market is expected to grow at a CAGR of over 6% during the period 2019-2025.

Key Market Insights

  • Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market.
  • Includes a detailed analysis of growth drivers, challenges, and investment opportunities.
  • Delivers a complete overview of segments and the regional outlook of the skylight market.
  • Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantage.

The global skylight market is expected to witness rapid growth during the forecast period on account of the growing demand for daylight solutions, increased emphasis on environmental sustainability, and reduction in energy consumption in commercial and residential buildings. The market is likely to be driven by the rise in new buildings and retrofitted projects in commercial and residential sectors.

While the concept of green buildings in developed economies is gaining popularity, skylights are finding increasing applications as these buildings are considered to energy efficient. These buildings are designed to reduce the overall impact of human health on the natural environment by efficiently decreasing energy and water consumption.

The application of daylight devices is growing as they are an effective way to meet sustainable standards. Daylight solutions can provide an abundance of natural light, thereby reducing or eliminating the need for electric lighting during the daytime. Hence, the increasing installation of these lighting systems is likely to influence the market during the forecast period. The introduction of Building integrated photovoltaic technology (BIPV) provides aesthetical, economical, and technological solutions for electric self-sufficiency in buildings. It is the most promising technology for harvesting solar energy in urban areas. It offers multiple benefits for buildings, including power generation from renewable energy resources, daylight solutions, heating and cooling load reduction, and others.

Technological innovations such as electric skylight that can monitor air quality, humidity, temperature, and automatically detect the need for fresh air and open the skylight without any remote operation such innovations are expected to boost the market further.

Skylight Market: Segmentation

This research report includes a detailed segmentation by product, operation, material, installation, end-users, and geography. As tubular skylights offer ease of use, feasibility, and economical, the segment is growing steadily. In developed economies, the increasing demand for energy efficiency both in residential and commercial buildings is expected to influence the demand for daylight bulbs. Custom skylights are expected to grow at the fastest CAGR during the forecast period as they enhance the aesthetic appeal of the environment, offer superior light diffusion and are energy efficient. They are primarily utilized in commercial and luxury residential buildings as they focus on establishing an attractive environment. The rise in disposable income, coupled with an increase in commercial and luxury residential buildings globally, is expected to stimulate the demand.

The fixed skylight segment dominated the market in 2019 and is expected to continue its dominance during the forecast period as fixed daylight bulbs brighten up a large area high and are inexpensive, thereby witnessing high utilization in residential as well as commercial buildings. The availability of high thermal efficiency in fixed daylights is also likely to increase in the colder Nordic region. Manual skylights eliminate the excess moisture and keep airflow steady. These lights are finding usage in institutional buildings and hospitals.

The growth in renovation retrofitted projects, especially hospitals, is likely to drive the demand. However, these lights are expensive and are expected to face a major application challenge in the residential sector during the forecast period. Electric daylights are projected to be the fastest-growing segment in the skylight market. Technological innovations, which include monitoring air quality, humidity, and temperature, are driving the market.

Glass skylights are highly preferred by consumers as they are durable and aesthetically appealing. The innovation in glass daylight solutions such as tempered glass and glazing techniques is used to increase energy efficiency, thereby increasing the attractiveness for these lights. The acrylic material segment is expected to grow at a moderate rate as they offer clarity, durability, and weather and shock resistance.

The largest demand for acrylic skylights is witnessed in the North American and European regions. The increasing demand for cost-effective and energy-efficient solutions is driving growth. North America and Europe constituted over 75% of the market share in 2019. APAC is expected to grow at the fastest rate, with a CAGR of over 9% during the forecast period. China, Japan, South Korea, and Australia are the key markets in this region.

One of the major factors driving the replacement segment is the need to prevent leakage in installed skylights. The growing demand for photovoltaic daylight, smart, and electric daylight applications is driving the replacement demand. The demand originates from several sectors, including commercial, industrial, and residential. Moreover, the introduction of daylight technology such as built-in condensation channels and impact-modified acrylic is likely to impact the growth.

The expansion of commercial properties and the need to reduce energy consumption are expected to drive the demand for daylight solutions in the commercial sector. As daylight solutions are considered as an effective way to follow sustainable standards, their application in commercial buildings can reduce the cooling energy usage by between 10% and 20%. Stringency in government regulations to reduce energy consumption in commercial buildings is likely to drive the market. Further, active renovation policies are also contributing to growth.

Insights by Geography

Infrastructural development, renovations, and remodeling of existing commercial and residential buildings support the growth in Europe. The high installation of daylight devices in new buildings, as well as renovations and retrofit projects, are expected to drive the market. The European construction growth is broad-based and is expected to occur across sectors, including residential, non-residential, and civil engineering for both new construction and renovation activities, thereby driving the growth of the skylight market in the region. The growing corporate profits have resulted in higher expenditure on renovation and expansions, thus driving the sale of daylight devices in North America.

The APAC region is expected to witness the fastest growth during the forecast period. The growth is mainly driven by India, China, Australia, South Korea, and Japan. Strong economic growth and increasing disposable incomes, coupled with rapid urbanization, have resulted in the rise of megacities, which is likely to support the growth.

Insights by Vendors

The global skylight market is highly competitive, with the presence of a large number of public and private companies. Vendors typically compete on key parameters such as product design, quality, reliability, support services, and price. Consumers are expected to be driven by continuous innovations and upgrades of products. The present scenario is driving vendors to alter and refine their unique value proposition to achieve a strong market presence.

The major vendors are adopting innovative technologies to retain their position. One of the key vendors introduced smart skylight technology, which offer plug and play smart home solutions for remote sensor-based operation. They automatically detect sunlight, humidity, temperature, and carbon dioxide levels to adjust the opening and closing of valves. Such technologies are likely to increase the demand for daylight solutions among consumers. The competition is expected to intensify further with an increase in product service extensions and an increase in mergers and acquisitions. International players are likely to expand their reach worldwide during the forecast period, especially in the fast-developing countries of the APAC region, MEA, and Latin America to enhance their shares.

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of The Study
4.4 Market Segments
4.4.1 Market Segmentation by Product Type
4.4.2 Market Segmentation by Operation
4.4.3 Market Segmentation by Material
4.4.4 Market Segmentation by Installation
4.4.5 Market Segmentation by End-Users
4.4.6 Market Segmentation by Geography

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance

7 Introduction
7.1 Global Fenestration Market
7.2 Factors Driving Fenestration Market
7.3 Skylight Market Overview

8 Growth Opportunities & Trends
8.1 Regulation on Energy Efficiency Driving Skylight Demand
8.2 Growing Number of Smart & Self-Sustainable Homes

9 Market Growth Enablers
9.1 Growth of Green Building Activities
9.2 Incorporation of BIPV Skylights
9.3 Sustainability Reshaping Global Construction Market

10 Market Restraints
10.1 High Cost of Installation
10.2 Raw Material Price Volatility
10.3 Negative Perceptions About Skylights

11 Market Landscape
11.1 Market Overview
11.2 Five Forces Analysis

12 Product Type
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Tubular Skylights
12.4 Custom Skylights
12.5 Pyramid Skylights
12.6 Dome Skylights
12.7 Barrel Vault Skylights

13 Operation Type
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Fixed
13.4 Manual
13.5 Electric

14 Material
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Glass
14.4 Acrylic
14.5 Polycarbonate
14.6 Others

15 Installation
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Replacement Demand
15.4 New Construction

16 End-Users
16.1 Market Snapshot & Growth Engine
16.2 Market Overview
16.3 Commercial
16.4 Residential

17 Geography
17.1 Geography Snapshot & Growth Engine
17.2 Geographic Overview

18 Europe

19 North America

20 APAC

21 Middle East & Africa

22 Latin America

23 Competitive Landscape
23.1 Competitive Scenario

24 Key Vendors
24.1 VKR Group
24.2 Fakro
24.3 Kingspan Light + Air

25 Other Prominent Vendors
25.1 Sun-Tek Skylights
25.2 Onyx Solar Group
25.3 Skyview Skylight
25.4 Sunoptics
25.5 Skydome Skylights
25.6 Lamilux Heinrich Strunz Group
25.7 Colombia Skylights
25.8 Crystalite Inc
25.9 Daylight America
25.10 Solatube International

For more information about this report visit https://www.researchandmarkets.com/r/h707n2

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

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SOURCE Research and Markets

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