The changing dynamics Glass Curtain Wall Market with covid-19 impact assessment
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including Glass Curtain Wall Market.
It was estimated prior to this unanticipated outbreak Glass Curtain Wall Market will reach CAGR of 10.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Glass Curtain Wall Market Insights
Glass curtain wall market is likely to witness an impressive CAGR of 10.2% during the forecast period. The growing demand for glass curtain wall is mainly due to the enhancement of the appearance of the exterior walls, rise in the need for energy-efficient buildings, and the need to provide protective layer to large buildings.
Market Share Analysis
Glass Curtain Wall Market Share: By System Type
Based on the system type, the market is segmented as unitized and stick. The unitized segment held the larger share of the market in 2019, and is expected to remain dominant during the forecast period. Unitized systems provide quicker installation as almost 70% of the components are assembled in factories and minimize the need for manpower onsite, which leads to reduction in the labor cost.
Glass Curtain Wall Market Share: By End-Use Type
Based on the end-use type, the glass curtain wall market is segmented as commercial, public, and residential. The commercial segment leads the market owing to rapid urbanization and increasing number of skyscrapers. Glass curtain walls used in buildings help to reduce energy costs as they act as protective layers for large-scale commercial buildings and render aesthetic appearance to the facade of the buildings.
Glass Curtain Wall Market Share: By Region
In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest growing glass curtain wall market during the forecast period, with China, Japan, India, and Australia being the growth engines. The market is driven by the increasing demand for aesthetic appeal and energy saving in modern infrastructure. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.