Global Daylight Market Outlook & Forecasts 2023-2028: Rising Installation of Roof Lights for Commercial Spaces and Growing Sustainable and Green Buildings Presents Burgeoning Opportunities - ResearchAndMarkets.com

The "Global Daylight Market - Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global daylight market is expected to reach a value of $401.82 billion by 2028 from $283.92 billion in 2022, growing at a CAGR of 5.96%

The global daylight market is highly competitive, with the presence of a large number of public and private companies. These vendors typically compete on critical parameters such as product design, quality, reliability, support services, and price. The rapid technological advancements adversely impact the market vendors as consumers expect continuous innovations and product upgrades.

The present scenario drives vendors to alter and refine their unique value proposition to achieve a strong industry presence. Some of the major vendors dominating the global daylight market include Velux, Brett Martin, and Lamilux Heinrich Strunz Holding. These brands have many product offerings and a widespread presence in the worldwide industry. The major vendors are adopting innovative technologies to retain their strong industry position.

The global daylight market is primarily stimulated by installing new daylight systems in new construction projects and replacing existing ones. Daylight systems find applications across various sectors, including residential and commercial spaces such as retail, hospitality, recreational facilities, hospitals, educational institutions, government facilities, workspaces, and offices.

They are considered an effective means for buildings to meet sustainability standards as they provide ample natural light, reducing or eliminating the need for electric lighting during daylight hours. In commercial buildings, incorporating daylighting can also lead to a 10-20% reduction in cooling energy consumption. Europe and the U.S. are witnessing a heightened focus on energy efficiency, driving increased adoption of daylighting in these regions.

MARKET TRENDS & OPPORTUNITIES

Rising Installation of Roof Lights for Commercial Spaces

The increasing adoption of roof lights in commercial projects can be attributed to their ability to enhance natural daylight, consequently reducing the reliance on artificial lighting. Roof lights, which are windows installed on a building's roof to optimize the inflow of natural light, have traditionally been found to be used in large commercial settings like warehouses and offices with high ceilings or those lacking attic space. In other words, roof lights are specialized architectural features installed in the roof or ceiling of commercial buildings to harness and optimize natural light.

However, due to their multiple advantages, beyond just augmenting daylight, roof lights are now gaining substantial consideration for use in residential properties. In addition, roof lights are integral to sustainable building practices, as they reduce a building's environmental impact. As businesses and building owners increasingly prioritize sustainability, installing roof lights has become a strategic choice to reduce carbon emissions, meet sustainability goals, and support the daylight market growth.

Growing Sustainable and Green Buildings

The growing focus on sustainable and green building practices is a significant driver of the global daylight market. Sustainable and green building principles prioritize energy efficiency, environmental responsibility, occupant well-being, and resource conservation. Sustainable and green building practices aim to minimize energy consumption. Daylight systems reduce the need for artificial lighting during daylight hours, leading to significant energy savings and lower operational costs for building owners. Many sustainable certifications and local building codes require minimum daylighting and energy-efficient lighting systems. This encourages the adoption of daylighting solutions in green buildings.

INDUSTRY RESTRAINTS

High Cost of Installation

Although daylighting can provide numerous positive results regarding energy efficiency and worker performance, a high-performance system requires a significant initial investment, considered the major challenge for daylight market growth. However, while implementing an integrated and strategic design approach, a company can allow overall long-term savings, making up for the initial investment in daylighting systems. Installing skylights, light tubes, and curtain walls is generally more expensive, depending on the building design and material used.

The primary factor that challenges daylight market growth is profit or return on investments. Daylighting represents only a small share of the lighting market, which offers growth opportunities. However, the profit motive and the marketing machine behind the electric luminaires are more robust and easier to quantify. Thus, like other renewable resources, daylighting also suffers from the owner-tenant riddle, where although the facility owner invests, the tenant earns the benefits.

SEGMENTATION INSIGHTS

Insights by Product

Windows Segment Dominance: In 2022, the global daylight market was primarily led by the windows segment. This growth was fueled by increased spending on new office and commercial buildings in China, as well as residential construction developments in the US. The US and China are projected to drive 65% of global window sales growth. Moreover, the MEA region is expected to witness rapid growth in windows demand due to rising residential construction, growing income levels, and rural-to-urban migration trends.

Insight by Installation

Replacement Installation Segment: The replacement installation segment held the largest share of the global daylight market in 2022. Homeowners are increasingly focused on upgrading their living standards through daylight systems like skylights to reduce electricity usage and enjoy natural sunlight. These products are easily re-installed in buildings, driving demand for renovation projects. The growing demand for photovoltaic, bright, and electric daylight systems further contributes to replacement demand, especially in commercial, industrial, and residential sectors.

Insight by End User

Residential Dominance: The residential end-user segment dominated the global daylight market in 2022. Increasing global population and shrinking household sizes are driving demand for housing facilities, supported by government policies worldwide. Emerging markets like China, India, Germany, Australia, Indonesia, Brazil, the UAE, and Saudi Arabia are significant contributors to residential construction. Initiatives in the US and Europe to reduce energy consumption in residential and commercial buildings also spur daylight installation growth. Among commercial properties, retail buildings accounted for about 25% of the market share, while corporate offices accounted for around 31% in 2022. Hospitality is the fastest-growing market for commercial daylighting.

Insight by Distribution Channel

Offline Channels Dominance: Offline channels, including B2B supermarkets, hypermarkets, and retail stores, dominate the global daylight market. Consumers prefer these channels for purchasing daylight products, and the Direct-to-Consumer (DTC) model contributes to high sales in offline channels. Retail stores play a crucial role in capturing market share for vendors, emphasizing the importance of effective product promotion and brand loyalty.

Key Attributes:

Market Opportunities & Trends

• Rising Installation of Roof Lights for Commercial Spaces
• Rising Focus on Energy Efficiency
• Adoption of Innovative Technologies
• Growing Number of Smart & Self-Sustainable Homes

Market Growth Enablers

• Growing Sustainable and Green Buildings
• Rapid Urbanization
• Increase in New Construction and Remodeling Projects
• Rising Demand for Photovoltaic Technology

Market Restraints

• Low Awareness and Limited Education
• High Cost of Installation

Industry Overview

• Objectives of Daylighting Systems
• Environmental Benefits
• Applications of Daylight
• Future Growth Prospects
• Raw Material Insights
• Parameters Influencing Daylight Performance
• Climate
• Latitude
• Obstructions and Reflections on Site
• Building Design
• Windows and Skylights
• Fenestration Design
• Challenges & Growth Strategies
• Challenges
• Growth Strategies
• Impact of Construction Industry
• Global Economic Scenario
• Value Chain Analysis
• Material Suppliers
• Manufacturers
• Distributors
• Applications

Key Company Profiles

• VKR Group
• Brett Martin
• LAMILUX HEINRICH STRUNZ HOLDING

Other Prominent Vendors

• Kingspan Light + Air
• Fakro
• Sun-Tek Skylights
• Onyx Solar Group
• Skyview Skylight
• Sunoptics
• Skydome Skylights
• Colombia Skylights
• CrystaLite
• Solatube International
• Daylight America
• Atrium Windows and Doors
• Weather Shield
• Airclos
• IQ Glass
• NorDan
• Arbonia
• Aluplast
• Josko
• Reynaers Aluminium
• CoeLux
• Roto
• Roofglaze
• Duplus Architectural Systems
• Lonsdale Metal

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