Market Trends of NA Smart Glass Industry
This section covers the major market trends shaping the North America Smart Glass Market according to our research experts:
Construction industry is expected to have further growth opportunities in the market
Smart glass is increasingly being adopted in the construction sector in the region. The buildings sector accounts for about 76% of electricity use and 40% of all U. S. primary energy use and associated greenhouse gas (GHG) emissions, making it essential to reduce energy consumption in buildings to meet national energy and environmental challenges, according to the Department of Energy.
Windows are considered the most inefficient part of a building and are responsible for heat loss in cold months and solar heat gain in warm months. Some researchers also stated that sunlight entering a house could increase cooling loads by 20%. In some cases, glare from the sun can make it difficult to see an LCD screen, requiring the blinds to be pulled, negating the benefits of natural light.
Thus, the adoption of smart glass in this sector can help in improving comfort levels for those inside the building while increasing energy efficiency. The key feature of these smart windows is a thin ceramic coating, which, when activated by an electrical current, is expected to tint the glass. Lawrence Berkeley National Laboratory (LBNL) stated that that advanced dynamic window technologies, or "smart windows," could save as much as one quadrillion BTUs of energy each year – which is more than 1% of the nation's annual energy consumption, or more than USD 10 billion in annual energy costs.
As building codes around the United States are driving the demand for greener designs, smart glass windows emerged as an appealing product to a variety of customers within the building sector. Such trends are expected to drive the demand for the smart glass market in the region.
The incentives provided by the governments in North America, primarily to encourage environmental sustainability, are expected to drive the market's growth, especially in the Americas. The strict implementation of the Green Buildings Act is expected to be a major positive force in the market, with the United States accounting for the majority of the global smart glass market share.
United States region witnesses significant growth opportunities in the market
Smart glass has become an increasingly popular feature for the commercial design sector because of its aesthetic value. For instance, a fine dining restaurant in North Dakota, Spirit Lake Casino, and Resort installed smart glass for providing spectacular views of the natural surroundings, despite solar glare problems. The technology helps the restaurant save money by reducing the conditions' cooling load of air conditions during sunny days.
The demand for smart glass has been progressing owing to the growing concerns of energy consumption in buildings, especially in the commercial sector. The buildings sector accounted for about 76% of the electricity used, resulting in a considerable amount of associated greenhouse gas (GHG) emissions, thereby making it necessary to reduce energy consumption in buildings to comply with the national energy and environmental challenges and decrease costs to building owners and tenants, According to the US Department of Energy.
According to the NYSERDA (New York State Energy Research and Development Authority), enabling smart technologies can decrease costs by an average of 15% and improve the bottom line by creating an ecosystem that reduces energy waste and boosts employee productivity.The factors mentioned above are anticipated to influence the demand for smart glass in the North American region.
As building codes around the United States have been driving the demand for greener designs, smart glass windows emerged as an appealing product to various customers within the building sector. Furthermore, the region has been seeing the adoption of technology from the government sector. For instance, Government Services Administration Headquarters (USA) adopted smart glass for renovation at its headquarters. Such trends are expected to drive the need for the smart glass market in the region.
