May 12, 2020 2:50 PM ET
iCrowd Newswire – May 12, 2020
The Global Electrochromic Glass Market is estimated to grow at a CAGR of 17.2% during the forecast period 2019-2026. As per the market analysis, the global market was valued $1.20 billion in the year 2018 and is estimated to reach $4.1 billion by the end of the year 2026.
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Electrochromic Glasses are generally referred as smart glasses, it is an electronically tintable glasses that are used for curtain walls, facades, skylights and windows. Electrochromic Glasses can be directly operated and controlled by residents or occupants of premises. The increasing rate of adopting electrochromic glasses in windows is due to its traits related to less energy costs, maximize access to outdoor and daylight views, improve occupant comfort and offer more design freedom to architects. The Global Electrochromic Glass Market is driven by various growth factors such as government incentives for installing energy-saving solutions and increasing adoption of electrochromic glass in the construction sector, increasing trend of smart technologies, and growth in development of smart buildings. However, high cost of electrochromic glass may act as a growth hindering factor for the global market.
Segmentation Overview of the Global Electrochromic Glass Market
The Global Electrochromic Glass Market is categorized into various parts to study and analyse the market in detail. The major market segments of the global market are Application and End-user Industry. These market segments are further categorized into various sub-segments to get detailed insights of the market while considering various market-based factors.
The Application Segment of the Global Electrochromic Glass Market is Sub-Segmented into:
The End-User Segment of the Global Electrochromic Glass Market is Sub-Segmented into:
As per the market study, the automotive segment under the end-user segment is estimated to dominate the market. The segmentation dominance is majorly attributed to increasing usage of electrochromic glass in rear windows, sub-visors, side windows and sunroofs in automotive.
Geographical Overview of the Global Electrochromic Glass Market
On the basis of geographical segmentation, the global electrochromic glass market was studied across North America (U.S., Canada and Mexico); Europe (Germany, UK, Russia, France and Rest of Europe); Asia Pacific (China, India, Japan, Korea and Rest of Asia Pacific); LAMEA (Brazil, Saudi Arabia and Rest of LAMEA). As per the analysis, the Europe electrochromic glass market is estimated to dominate the global market which is followed by North America region in the year 2018 with 1/3rd of the global market share. The regional dominance is due to presence of key market players in the region from various key sectors such as construction and automotive among others. However, as per the study, the Asia-Pacific Electrochromic Glass Market is anticipated to grow at a CAGR of 18.1% during the forecast period 2019-2026, the region is estimated to grow at fastest rate.
Key Players Insights
The global electrochromic glass market report includes an in-depth analysis of the major market players such as View Inc., Research Frontiers Inc., Pleotint LLC, Smartglass International Ltd., Hitachi Chemical Co. Ltd., Polytronix Inc., Kinestral Technologies Inc., Compagnie de Saint-Gobain S.A., ChromoGenics AB and AGC Inc. among others. The market players are adopting various competitive strategies to withhold high market share and gain the competitive edge in the global market.
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Keywords: Electrochromic Glass Market, Electrochromic Glass Market Size, Electrochromic Glass Market Share