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Europe – Potential Growth Market for Smart Glass
The European market is expected to drive the demand for smart glass market over the next few years, as the popularity of smart glass as a building material is increasing in European regions.
Smart glass is also known as switchable glass and it’s a type of glass which changes its light transmission properties as per the provided stimulus such as; voltage, heat or light. From its early introduction in 1986 by Gentex Corporation, to the technological advancements and commercialization after the latter half of 2000s, this industry has evolved tremendously. Development in this technology over the years has made smart glass more efficient and commercially viable product, which has lead to increase in the number of applications.
In this development of smart glass market, North America and Europe have been the major contributing geographical regions so far. Being one of the developed economies in the world, these marketplaces are more open to change and adapting to new lifestyle, improved products such as smart glass. In the current market scenario, North America seems to be a leading geographical segment for smart glass market, in terms of consumption and rate of growth.
Europe holds the potential to give stiff competition to North America after 2020 with a CAGR of 19.5%. Europe is forecast to be the most thriving marketplace for this glass. In Europe there are several supporting factors, responsible for the rising demand for this glass such as- supportive government policies for the use of energy efficient products and strong presence of key industry players. Europe consists of industry players such as Saint Gobain (France), Smart glass international (Ireland) and so on.
The European region is expected to drive the market in coming years. Technological advancements and recovering economy would act as driving factors during the growth period. Rapidly increasing energy cost will trigger the demand for energy efficient products. It is expected that the ability of smart glass to reduce the overall energy consumption of the building, while also offering attractive features such as ‘on demand privacy’ or ‘glare-control’ will multiply it’s applications in European region. Multi-purpose quality of this glass would make it a popular building material for variety of architectural applications. Particularly, in extreme weather conditions in selected European regions, smart glass would offer a suitable solution for maintaining the inside temperature and thus saving the overall energy costs. Thus, it is expected that Europe will be a key potential growth market for smart glass over the coming years.
Smart Glass Market by Technology (Electrochromics, SPD, Liquid Crystal, Microblinds, Thermographic and Photochromics), Application (Architectural, Transportation, Solar power generation, Electronics & others), & by Geography - Global Forecast to 2014 - 2020
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