This research report on the global skylight market covers sizing and forecast, share, industry trends, growth drivers, and vendor analysis. The study includes insights by Product (tubular, custom, pyramid, dome, and barrel vault), Operation (fixed, manual, and electric), Material (glass, acrylic, polycarbonate, and others), Installation (replacement demand and construction), End-users (residential and commercial), and Geography (APAC, North America, Europe, Latin America, and MEA)
The global skylight market is expected to witness rapid growth during the forecast period on account of the growing demand for daylight solutions, increased emphasis on environmental sustainability, and reduction in energy consumption in commercial and residential buildings. The market is likely to be driven by the rise in new buildings and retrofitted projects in commercial and residential sectors.
While the concept of green buildings in developed economies is gaining popularity, skylights are finding increasing applications as these buildings are considered to energy efficient. These buildings are designed to reduce the overall impact of human health on the natural environment by efficiently decreasing energy and water consumption.
The application of daylight devices is growing as they are an effective way to meet sustainable standards. Daylight solutions can provide an abundance of natural light, thereby reducing or eliminating the need for electric lighting during the daytime. Hence, the increasing installation of these lighting systems is likely to influence the market during the forecast period. The introduction of Building integrated photovoltaic technology (BIPV) provides aesthetical, economical, and technological solutions for electric self-sufficiency in buildings. It is the most promising technology for harvesting solar energy in urban areas. It offers multiple benefits for buildings, including power generation from renewable energy resources, daylight solutions, heating and cooling load reduction, and others.
Technological innovations such as electric skylight that can monitor air quality, humidity, temperature, and automatically detect the need for fresh air and open the skylight without any remote operation such innovations are expected to boost the market further.
The global skylight market is expected to grow at a CAGR of over 6% during the period 2019–2025.
This research report includes a detailed segmentation by product, operation, material, installation, end-users, and geography.
Insights by Product
As tubular skylights offer ease of use, feasibility, and economical, the segment is growing steadily. In developed economies, the increasing demand for energy efficiency both in residential and commercial buildings is expected to influence the demand for daylight bulbs. Custom skylights are expected to grow at the fastest CAGR during the forecast period as they enhance the aesthetic appeal of the environment, offer superior light diffusion and are energy efficient. They are primarily utilized in commercial and luxury residential buildings as they focus on establishing an attractive environment. The rise in disposable income, coupled with an increase in commercial and luxury residential buildings globally, is expected to stimulate the demand.
Pyramid skylights are majorly preferred in lobbies, entryways, and large spaces. The increasing demand for these lights in corporate offices, shopping malls, commercial, and hospitality is expected augur well for the growth. The increase in construction and renovation activities is further likely to boost demand. Dome skylights cost less than custom or tubular ones. Their application is preferred in Europe and North America as they are being installed in commercial buildings such as museums. The increasing application of these daylight solutions in museums and hospitality industries in developed regions is expected to push the demand for dome lights.
Insights by Operation
The fixed skylight segment dominated the market in 2019 and is expected to continue its dominance during the forecast period as fixed daylight bulbs brighten up a large area high and are inexpensive, thereby witnessing high utilization in residential as well as commercial buildings. The availability of high thermal efficiency in fixed daylights is also likely to increase in the colder Nordic region. Manual skylights eliminate the excess moisture and keep airflow steady. These lights are finding usage in institutional buildings and hospitals. The growth in renovation retrofitted projects, especially hospitals, is likely to drive the demand. However, these lights are expensive and are expected to face a major application challenge in the residential sector during the forecast period. Electric daylights are projected to be the fastest-growing segment in the skylight market. Technological innovations, which include monitoring air quality, humidity, and temperature, are driving the market.
Insights by Material
Glass skylights are highly preferred by consumers as they are durable and aesthetically appealing. The innovation in glass daylight solutions such as tempered glass and glazing techniques is used to increase energy efficiency, thereby increasing the attractiveness for these lights. The acrylic material segment is expected to grow at a moderate rate as they offer clarity, durability, and weather and shock resistance. The largest demand for acrylic skylights is witnessed in the North American and European regions. The increasing demand for cost-effective and energy-efficient solutions is driving growth. North America and Europe constituted over 75% of the market share in 2019. APAC is expected to grow at the fastest rate, with a CAGR of over 9% during the forecast period. China, Japan, South Korea, and Australia are the key markets in this region.
Polycarbonate skylights are expected to witness the fastest growth rate during the forecast period on account of durability, efficiency, and sustainability. Countries such as China, Japan, South Korea, and Australia are the key markets for polycarbonate daylights in the APAC region. Urbanization and the rise of the construction market in the APAC region are expected to support the growth.
Insights by Installation
One of the major factors driving the replacement segment is the need to prevent leakage in installed skylights. The growing demand for photovoltaic daylight, smart, and electric daylight applications is driving the replacement demand. The demand originates from several sectors, including commercial, industrial, and residential. Moreover, the introduction of daylight technology such as built-in condensation channels and impact-modified acrylic is likely to impact the growth.
With the rapidly growing construction market in commercial as well as residential sectors, the demand for skylights is expected to grow during the forecast period. Europe and North America account for the majority of the demand globally. In APAC, Latin America, and MEA, the demand for daylight bulbs is expected to grow at a faster rate due to the growth in construction activities, increased urbanization, and the rise in disposable incomes.
Insights by End-users
The expansion of commercial properties and the need to reduce energy consumption are expected to drive the demand for daylight solutions in the commercial sector. As daylight solutions are considered as an effective way to follow sustainable standards, their application in commercial buildings can reduce the cooling energy usage by between 10% and 20%. Stringency in government regulations to reduce energy consumption in commercial buildings is likely to drive the market. Further, active renovation policies are also contributing to growth.
Although the use of skylights in residential units is far less than commercial facilities, the market is expected to grow significantly during the forecast. Initiatives to reduce energy consumption in residential buildings in developed countries are likely to drive the growth of daylight applications. Manufacturers are increasingly focusing on environmental sustainability and green building construction, which is expected to drive growth.
Insights by Geography
Infrastructural development, renovations, and remodeling of existing commercial and residential buildings support the growth in Europe. The high installation of daylight devices in new buildings, as well as renovations and retrofit projects, are expected to drive the market. The European construction growth is broad-based and is expected to occur across sectors, including residential, non-residential, and civil engineering for both new construction and renovation activities, thereby driving the growth of the skylight market in the region. The growing corporate profits have resulted in higher expenditure on renovation and expansions, thus driving the sale of daylight devices in North America. Moreover, the rising non-residential construction, primarily offices and accommodation services has also resulted in a higher demand for energy-efficient daylight systems.
The APAC region is expected to witness the fastest growth during the forecast period. The growth is mainly driven by India, China, Australia, South Korea, and Japan. Strong economic growth and increasing disposable incomes, coupled with rapid urbanization, have resulted in the rise of megacities, which is likely to support the growth.
Key Profiled Countries
Insights by Vendors
The global skylight market is highly competitive, with the presence of a large number of public and private companies. Vendors typically compete on key parameters such as product design, quality, reliability, support services, and price. Consumers are expected to be driven by continuous innovations and upgrades of products. The present scenario is driving vendors to alter and refine their unique value proposition to achieve a strong market presence. The major vendors are adopting innovative technologies to retain their position. One of the key vendors introduced smart skylight technology, which offer “plug and play” smart home solutions for remote sensor-based operation. They automatically detect sunlight, humidity, temperature, and carbon dioxide levels to adjust the opening and closing of valves. Such technologies are likely to increase the demand for daylight solutions among consumers. The competition is expected to intensify further with an increase in product service extensions and an increase in mergers and acquisitions. International players are likely to expand their reach worldwide during the forecast period, especially in the fast-developing countries of the APAC region, MEA, and Latin America to enhance their shares.
Other Prominent Vendors – Sun-Tek Skylights, Onyx Solar, Skyview Skylight, Sunoptics, Skydome Skylights, Lamilux Heinrich Strunz, Colombia Skylights, CrystaLite Inc.s
Key Market Insights
The analysis of the skylight market provides sizing and growth opportunities for the period 2019–2025.
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