According to Future Market Insights research, during the projected period, the global Electrochromic Glass and Devices Market is set to enjoy a valuation of US$ 2,422.7 Million in 2022, and further grow at a CAGR of 13.4% from 2022 to 2032. The top 3 nations are anticipated to control around 38-40 % of the market by the end of 2022 in response to increasing demand from automotive, aircraft, and commercial workspaces.
| Attributes | Details |
|---|---|
| Market Size 2022 | US$ 2,422.7 Million |
| Market Size 2032 | US$ 8,519.7 Million |
| Value CAGR (2022 to 2032) | 13.4% |
| Collective Value Share: Top 3 Countries (2022E) | 38% to 40% |
With the rising standards of living and increasing demand for energy-efficient solutions, Electrochromic Glass and Devices are estimated to boost during the forecast period. Electrochromic glass and devices have applications in the glazing of vehicles, aircraft, trains, and mirrors already used in vehicles which are expected to boost the market growth.
Key regulations related to energy consumption by buildings and construction spaces and the development of cutting-edge technology will increase demand for electrochromic glasses and other products. Due to their optical characteristics, electrochromic glasses and other devices are governing the transfer of energy. Automobile mirrors, aircraft windows, and smart glasses are just a few of the places where electrochromic devices are used extensively. According to a recent forecast by FMI analysis, sales of electrochromic glass and devices will increase between 2022 and 2032, creating a growth opportunity of US$ 6,097.0 Million.
As per the IEA, buildings, and building construction are responsible for around 27% of the emissions from the worldwide energy sector. It is projected that rising demand for air conditioning and ventilation in developing nations would increase demand for energy-efficient appliances across a variety of end uses, including residential, and commercial areas. Commercial spaces are using smart glasses to upgrade their commercial infrastructure in response to the growing demand for agile and collaborative offices.
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The global Electrochromic Glass and Devices market witnessed a CAGR of 7.3% during the historic period with a market value of US$ 2,136.4 Million in 2021.
These devices are becoming more popular because they are being used in energy-efficient modern building architecture, where it would be possible to regulate the passage of light and heat through the windows. Electrochromic glasses and devices can be used to control the temperature of frozen food as well as to glaze automobiles, airplanes, trains, and existing rearview mirrors. The increasing need for energy-efficient systems, rising degrees of global warming, and rising per capita income are some of the major drivers propelling the electrochromic glass & devices market.
Several commercial offices, healthcare facilities, retail spaces, museums, and other interior spaces are benefited from electrochromic glasses owing to controlled indoor energy, improved occupant comfort, and minimized energy costs. Commercial building owners are also concentrating on energy-efficient lighting systems as electrochromic glasses have minimal electricity consumption. The real estate sector especially architectural infrastructure is estimated to boost the revenue of electrochromic glass and devices.
Access to natural light and views of the outside is maintained via electrochromic glass, which is associated with greater emotional wellness, higher rates of learning and patient recovery, higher productivity, and lower employee absenteeism. Users want gadgets that are simple to use and have automatic control settings for managing light, glare, and energy consumption.
The acceptance of electrochromic glass and devices is growing in popularity due to the development of nanotechnology, the acceleration of global warming, and the mounting emphasis on building energy efficiency. These devices are mostly employed to reduce glare in rearview mirrors of automobiles and in smart windows that control buildings' solar gains.
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Architectural Applications for Electrochromic Glass and Devices are prominently rising, owing to rising demand for co-working spaces, commercial complexes, and other recreational spaces across geographies such as museums, Art galleries. The architectural segment is estimated to hold approximately 38% of the global Electrochromic Glass and Devices market by the end of 2032.
With the growing involvement of electronics in glass products and devices, electrochromic materials which are capable of changing properties are gaining market demand in electrochromic glasses and devices. Metal Oxide Film electrochromic glasses and devices help in modulating the transmission and reflection capacity of light. Metal oxide film help in tuning optical changes as per the requirement. Owing such benefits to end users and the increasing popularity of metal oxides in smart glasses is expected to further boost the market for metal oxide film.
In the estimated year, the North American market is expected to account for a sizeable portion, with the USA expected to dominate the region by 10.4% in 2022. The USA is anticipated to dominate the market in North America due to the growing demand for devices in commercial and the automobile industry. Electrochromic glasses provide superior comfort and energy savings and are increasingly being utilized in high-end vehicles, which is helping the market for the products grow in the nation. Electrochromic glasses are becoming more popular in the country as a result of the fast-growing construction, automotive, and other industries.
With the growing demand for architectural and skyscraper projects in Germany, the demand for electrochromic devices and glasses is growing in the market. With increasing construction activities in the country and rising investment in interior architecture, smart glass solutions such as controllable and switchable glass panels are growing in the region which is expected to further boost the market for electrochromic glass and devices. Germany is expected to grow and holds about 6.4% of the market share during the estimated year, 2022.
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The key players operating in the Electrochromic Glass and Devices market are focusing on expanding their presence to meet the growing demand for sustainable lighting solutions by investing in new technologies. Also, the key players are adopting collaboration & joint venture strategies to increase their presence and resources.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 13.4% from 2022 to 2032 |
| Base Year for Estimation | 2022 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume (Units), and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Operation, Application, Material, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East and Africa |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, United Kingdom, France, Italy, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, Australia and New Zealand, GCC Countries, Turkey, South Africa, Northern Africa |
| Key Companies Profiled | AGC Inc.; Chromogenic AB; Compagnie De Saint Gobain S.A.; Hitachi Chemical Co. Ltd.; Kinestral Technologies Inc.; Pleotint LLC; Polytronix Inc.; Research Frontiers Inc.; SmartGlass International; View Inc. |
| Customization & Pricing | Available upon Request |
In 2021, the value of the global Electrochromic Glass and Devices market reached over US$ 2,136.4 Million.
During the forecast period, the global Electrochromic Glass and Devices market is estimated to expand at a CAGR of 13.4% from 2022 to 2032.
The global Electrochromic Glass and Devices market is projected to reach US$ 8,519.7 Million by the end of 2032.
The demand for Electrochromic Glass and Devices is rising as a result of the growing need for energy-efficient lighting solutions in the construction and automotive industry.
The key players operating in the Electrochromic Glass and Devices market are AGC Inc., Chromogenics AB, Compagnie De Saint Gobain S.A., Hitachi Chemical Co. Ltd., and Kinestral Technologies Inc.
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Electrochromic Glass and Devices Market
