APAC is the fastest growing market for tubular skylights.
Arizton’s recent market research report the Daylight Market - Global Outlook and Forecast 2020-2025 provides comprehensive industry analysis, trend forecasts, and competitive analysis. The study includes insights by Product (windows, skylight, and curtain walls), End-user (commercial and residential), Installation (replacement demand and new construction), and Geography (APAC, Europe, MEA, North America, and Latin America)
The global daylight market is expected to grow at a CAGR of over 6% during the period 2019–2025.
Daylight primarily refers to the practice of placing windows, skylights, curtain walls and other openings and other reflective surfaces to allow natural lights inside the building effective lighting. As commercial and residential buildings are responsible for up to 24% of greenhouse gas emissions and account for over 40% of the world’s total primary electricity use, the use of natural lights, especially in commercial buildings, has become an important strategy to improve lighting, heating, and cooling loads. The global landscape is likely to be confronted with energy shortage in the near future, and unfavorable climate changes are quite evident. It has been established that the present energy generation system is not sustainable. There is a need to shift to renewable sources such as solar energy for clean and sustainable energy. Although daylight systems have high growth and adoption, the penetration remains limited to developed countries such as the US and Europe.
The leading drivers and trends driving the growth of the global daylight market are discussed below:
Trend of Developing Green Buildings
Green buildings are structures, which follow environmentally sustainable practices from designing, construction, operation, to maintenance and renovation. They are also known as sustainable and high-performance buildings as they help to reduce the use of energy, water, and other resources. Daylighting is considered as an effective way in which a building can meet its sustainable standards, as it can provide an abundance of natural light, which reduces or eliminates the need for electric lighting during daylight hours.
Electric lights comprise 25% of the total energy used in the buildings of US, and buildings consist of 75% of the total energy usage across the country.
Daylighting or controlled admission of natural lights can reduce the requirement of electric lighting and save energy. In US, about one-third of the total electricity budget is spend on lighting, which is equivalent to $60 billion annually. Electric lighting accounts for approximately from 35% to 50% of the total electricity consumption in commercial buildings. The commercial buildings in US houses have more than 64 billion feet of lit floor space. Most of these buildings are lit by fluorescent lighting systems. Approximately 30% to 50% of these spaces have access to daylights through windows or skylights.
High Demand for BIPV Systems
Building integrated photovoltaic technology (BIPV) can provide 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 provides multiple benefits for buildings, including power generation from renewable energy resources, daylighting solutions, heating and cooling load reduction and others. Advancements in manufacturing of BIPV glass and thin-film products allow vendors and designers to offer consumers with realistic rendering of designs with photovoltaics integrated with conventional building and construction practices. With the growth in infrastructure and access to better amenities, the urban population will be major end-users for BIPV technology. Therefore, the growth in commercial as well as residential infrastructure, lux residential complexes, airports, and hospitals is likely to demand for sustainable energy for self-consumption, thereby boosting the demand for BIPV technology.
Increased Acceptance of Tubular Skylights
Tubular skylights have been gaining popularity, as the easiest way to bring natural light in any room in a building. Tubular lights are tube-shaped devices, which capture the sunlight and deliver it to the interior space of a home or a building through a rooftop lens and reflective line tube. They can be easily configured to avoid attic obstruction and deliver the light where it is needed. They can be installed in hallways, bathrooms, laundry rooms, walk-in closet; they not only help to lighten up space but also save on electricity costs. In terms of geography, Europe accounted for the largest market share of over 40% in 2019. In the northern US and Canada, tubular skylights are incorporated in both residential and commercial buildings. North America accounted for approximately, 37% of the market in 2019. APAC is the fastest growing market for tubular skylights and is expected to grow at a CAGR of 8.69% during the forecast period.
VKR Group, Anderson, and JELD-WENVKR are identified as prominent vendors in the global daylight market.
The complete overview of the latest market research report on the global daylight market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges and provides market sizing and forecast for major geographical regions and key countries.
Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
+1 302 469 0707
Sep 27, 2021
Is COVID-19 Impacting the Growth of the Digital Pathology Market Positively?
According to the latest Arizton's market research report, the digital pathology systems market size ...
Sep 27, 2021
What Growth Strategies are Implemented by Vendors in Stain Remover Products Market?
According to the latest Arizton's market research report, the stain remover products market size to ...
Aug 30, 2021
Is Deployment of Smart Connectivity Leading the Digital Lock Market?
According to the latest Arizton's market research report, the digital lock market size to cross over...