Apr 28, 2022, 01:15 EST
Shibuya-ku, Tokyo, Japan, Japan, Apr 28, 2022, 01:15 /Comserve / -- The study considers the present scenario of the global skylight market and its market dynamics for the period 2022−2031.
The global skylight market is expected to grow at a CAGR of over 6% during the period 2022–2031.
The following factors are likely to contribute to the growth of the skylight market during the forecast period:
• Increasing Green Building Activities
• Growing Number of Smart and Self-sustainable Homes
• Incorporation of BIPV Skylights
• Sustainability Reshaping Global Construction Market
• Regulation on Energy Efficiency Driving Skylight Demand
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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 study considers the present scenario of the global skylight market and its market dynamics for the period 2022−2031. It covers a detailed overview of several market growth enablers, restraints, and trends. The study offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent companies operating in the market.
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Skylight Market: Segmentation
This research report includes a detailed segmentation by product, operation, material, installation, end-users, and geography. 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.
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.
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