PUBLISHER: Grand View Research | PRODUCT CODE: 1363108
PUBLISHER: Grand View Research | PRODUCT CODE: 1363108
The U.S. windows market size is expected to reach USD 16.41 billion by 2030, growing at a CAGR of 3.6% during the forecast period, according to a new report by Grand View Research, Inc.. The growth is attributed to the rising investments in residential and non-residential construction owing to the increasing population and growing tourism and hospitality sector. Growing refurbishment activities are further anticipated to fuel the market expansion in the country.
The U.S. construction industry is one of the most developed and technologically advanced industries, characterized by the massive presence of multinational companies, healthy economic conditions, and the rising focus of the government on boosting the construction industry. These factors benefit the fenestration market in the country. The market has also witnessed the adoption of automation in the window manufacturing process by using software and advanced machinery, both for production and quality control activities.
However, the construction industry is one of the major segments contributing to waste generation on a global level. It is also largely responsible for carbon dioxide emissions and global warming. The growing construction industry also contributes to pollution with its byproducts such as cement dust, ash, glass, and hydrocarbon compounds which are dumped in landfills and water bodies. This waste is increasing every year owing to the growth of the construction industry. This, in turn, is likely to negatively impact on the market's demand.
The advancements in technologies have given rise to the development of energy-efficient windows. One such technology is smart glass windows, which use advanced technologies to insulate and block light passing into a building. This can change its transparency, blocking certain wavelengths of light. These windows allow the users to regulate the amount of light and heat entering a house, while also enhancing privacy.
The U.S. market for windows is highly competitive due to the presence of various small and large players. Companies are opting for various strategies such as the acquisition of local niche players, to improve customer interaction and improve their market position. Furthermore, new product development such as sustainable windows, development of a strong distribution network, and mergers & acquisitions are some of the strategies used by players to gain a competitive edge.