Smart Glass Market Report

Smart Glass Market Analysis By Technology (Electrochromic, PDLC, SPD, Thermochromic), By Application (Architectural, Transportation, Consumer Electronics), By Transportation, By Region, And Segment Forecasts, 2014 - 2025

Published: May 2017  |  111 Pages  |  Format: PDF  |  Report ID: 978-1-68038-213-6

Industry Insights

The global smart glass market size was valued at USD 2.81 billion in 2016. The market growth is attributed to the capacity of the glass to transmit light and modulate heat depending on the external environmental conditions. As building owners realize the long-term benefits associated with energy efficiency, they have started exhibiting an inclination towards adopting this technology.

The industry is gaining prominence due to the emergence of stringent regulations with respect to energy efficiency and large-scale urbanization in developing countries. Increased investments in the manufacturing of smart glass coupled with the establishment of industrial-scale production capacity, has significantly contributed towards market growth. Growing consolidations between technology providers and suppliers are fueling the development of smart glass tailored as per a wide range of application areas.

U.S. smart glass market by technology, 2014 - 2025 (USD Million)

U.S. smart glass market

Factors such as increasing applications in marine, power generation, and aviation, are aiding the industry expansion. In the replacement market, the shift in demand from passive to active smart glass inventions is adding traction to the adoption of these products. The aircraft and automotive industries have been largely responsible for the growing adoption of smart glass owing to the increasing awareness of the advantages of switchable glass over a plain glass in the body of airplanes and automobiles. Additionally, the emergence of innovative solutions has led to the evolution of smart windows in the architectural sector.

The surging prominence of green energy initiatives, such as eco-friendly & green buildings, and the eminence of non-electric technologies, such as thermochromic technology, has boosted industry growth. Administrative support provided by various governments, through tax initiatives and financial aid across the globe is also contributing to the industry demand.

Technology Insights

The Suspended Particle Devices (SPD) segment accounted for a revenue share of over 40% in 2016. This technology enables control of light, heat, and glare entering the premises to provide better user well-being and comfort along with significant improvement in energy efficiency.

This growth of SPD smart glass can be attributed to its high electricity-saving capabilities. Reduction in energy consumption occurs due to the vibrant control of solar radiations, which results in a substantial reduction in HVAC energy usage. Reduction in energy consumption leads to an increase in overall energy savings due to maximum utilization of daylight.

The North American and European regions are projected to emerge as the leading markets for liquid crystal smart glass due to the increased emphasis on the usage of ‘Green Energy’ resources. Moreover, its high durability and quick light control capability are expected to boost demand over the forecast period.

Application Insights

The transportation application segment captured a revenue share of over 45% in 2016. It is projected to emerge as the most lucrative segment, owing to the surging adoption of this technology by premium and medium-sized car manufacturers. The infinite tuning and fast-switching features of smart glass enable reduction of unwanted light and glare, allowing users to enjoy a glare-free view. The heat-blocking features improve fuel efficiency and reduce carbon emissions in vehicles.

Moreover, automotive OEMs are emphasizing on lowering both, energy consumption and CO2 emissions. To meet these requirements, manufacturers are developing solutions such as anti-heat glass and glazing solutions. The surging penetration of luxury automobiles in the Asia Pacific region, along with elevated income levels of clienteles, are the major drivers for the industry growth in automotive applications. Similarly, in the aerospace sector, several OEMs including Embraer S.A., Bombardier Inc., The Boeing Company, Airbus SAS, and Beechcraft Corporation are transitioning towards electronically dimmable windows

The construction sector is presumed to be a promising sector, owing to its higher growth rate with gradual investments in smart technology. A majority of high towers and skyscrapers in the Middle Eastern region have incorporated smart glass for exterior structure fabrication to reduce heat and light transmissions and maintain internal ambiance.

Global smart glass market by application, 2016 (%)

Global smart glass market

Regional Insights

North America dominated the smart glass market with a share of close to 35% in 2016. Favorable regulations and mandates have led to the growth of these products in the region. They have enabled overall energy savings and reduced maintenance costs leading to a positive impact on the market growth.

The European Union territories and the U.S. governments are planning to regulate the adoption of smart glass-incorporated electronics equipment and have directed their transport departments toward the same. Moreover, presence of key players in the region and the increasing automotive production are aiding the market growth.

The industry is anticipated to be driven by the adoption of premium products, such as laminated glazing, and the legislation of energy conservation regulations for buildings in mature markets such as Europe and North America. In the case of developing markets, the booming construction sector is expected to provide significant growth avenues.

Competitive Insights

They key market players include Asahi Glass Co., Ltd., Saint-Gobain S.A., Corning Incorporated, and DuPont. The industry is dominated by a few major players providing niche solutions for end-use applications. However, as no single player has expertise in manufacturing of all kinds of smart glass technologies, there exists a significant opportunity for industry consolidations to gain a strong hold in the market.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/historical data

2014 - 2015

Forecast period

2017 - 2025

Market representation

Market revenue in USD Million & CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, and MEA

Country scope

U.S., Canada, Germany, UK, China, and Japan

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

15% free customization scope(equivalent to five analyst working days)

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2016 to 2025. For the purpose of this study, Grand View Research has segmented the global smart glass market based on technology, application, and region:

  • Technology Outlook (Revenue, USD Million; 2014 - 2025)

    • Electrochromic

    • Polymer Dispersed Liquid Crystal (PDLC)

    • Suspended Particle Devices (SPD)

    • Thermochromic

    • Photochromic

  • Application Outlook (Revenue, USD Million; 2014 - 2025)

    • Architectural

    • Transportation

      • Automotive

      • Aircraft

      • Marine

    • Consumer electronics

    • Power generation

  • Regional Outlook (Revenue, USD Million; 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • China

      • Japan

    • Latin America

    • MEA

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