Generator Market - Industry Analysis, Size, Share, Forecast 2024
With
a few leading players, namely, ASAHI GLASS, Saint-Gobain, DuPont, and
Guardian Industries, driving the entire market, the global market for
smart glass demonstrates a consolidated structure, finds a report by
Transparency Market Research (TMR). These players, collectively, held a
share of 40% in this market in 2015. With participants increasingly
involving into mergers, acquisitions, and strategic alliances, the
competition within the market is expected to intensify over the
forthcoming years, state the report.
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As
per TMR’s estimations, the opportunity in the global market for smart
glass is likely to rise at a CAGR of 14.50% over the period from 2016 to
2024, increasing from US$2.10 bn in 2015 to US$7.04 bn by the end of
the period of the forecast. The demand for smart glass is higher in the
transportation sector compared to other end users. The scenario is
anticipated to remain the same throughout the forecast period, thanks to
the expanding application base of these mirrors in automobiles, such as
increased usage in sun visors, sun roofs, and rear and side windows in
high-end premium cars. The current boost in the worldwide aviation and
the automotive industries is also projected to fuel the demand for smart
glass in the transportation sector significantly over the next few
years.
North America to Gain Supremacy among all Regional Markets
According
to the research report, the worldwide market for smart glass is spread
across North America, the Middle East and Africa, Asia Pacific, Latin
America, and Europe. The global market has been led by North America
over the past few years and is expected to remain so throughout the
forecast period. The growth of this regional market can be attributed to
the increasing prominence of renewable sources of energy, specifically
solar energy. As smart glass has an important role to play in the
generation of solar energy, the demand for smart glass is expected to
increase with the increasing uptake of solar energy in this region.
North
America acquired 30% of the overall market in 2015 and was closely
followed by Asia Pacific and Europe. The smart glass market in Asia
Pacific is relatively new and is showing immense potential for future
growth; however, Europe, being a mature market, is predicted to witness a
decline in its market share over the next few years, notes the study.
Demand for Sustainable Energy to Influence Uptake of Smart Glass
On
the grounds of the depleting sources of energy, the demand for
sustainable energy, nowadays, has increased substantially, compelling
governments across the world to implement regulations and take
initiatives to reduce the consumption of energy. The promotion of green
buildings is one of the most prominent initiatives for energy
conservations taken by the governments in a number of developed
countries. “Since smart glass play a significant role in saving the
energy required for heating, cooling, and lighting in green buildings,
its demand has soared, globally,” says an analyst at TMR.
With
the increasing proliferation of green building across the world, the
global smart glass market is likely to fare impressively in the near
future. However, the high price associated with it and the easy
availability of cheap substitutes may obstruct the growth of this market
to a bit in the years to come, states the report.
The
study presented here is based on a report by Transparency Market
Research (TMR), titled “Smart Glass Market (Technology - Electrochromic,
Thermochromic, Photochromic, Liquid Crystal, and Suspended Particle
Device; End User - Architectural, Consumer Electronics, Transportation,
and Solar Power Generation) - Global Industry Analysis Size Share Growth
Trends and Forecast 2016 – 2024.”
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This report segments the global smart glass market as follows:
By Technology
-Electrochromic
-Liquid Crystal
-Suspended Particle Device
-Thermochromic
-Photochromic
By End User
-Architectural
-Consumer Electronics
-Transportation
-Solar Power Generation
By Region
-North America
-U.S.
-Canada
-Europe
-France
-U.K.
-Germany
-Spain
-Italy
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