The global skylight market is expected to grow over 6% during the period 2019–2025.
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
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.