After a challenging year for the construction industry, the global window market is showing the first signs of recovery.
In 2024, total market volume reached 448.8 million window units, marking a decline of 1.1%, while manufacturers’ revenues fell by 1.7% to €81.1 billion. The outlook for 2025 is cautiously optimistic: market volume is expected to grow by 1.9% to 457.5 million units. However, this would still leave the market slightly below the 2022 level, according to a new study conducted by Interconnection Consulting.
High Interest Rates and Geopolitical Tensions Slow Recovery
Global recovery remains muted, held back by elevated construction interest rates, geopolitical uncertainty, and the U.S. trade policies under Donald Trump. In Central and Eastern Europe (CEE), market volumes dropped by 6.2% in 2024 to 13.4 million units, following an even sharper decline of 11.2% in 2023. Poland was among the hardest hit (-8.6%), followed by the Czech Republic–Slovakia region (-8.0%). Persistently high borrowing costs, rising construction expenses, and the ongoing Ukraine conflict continue to dampen both investor confidence and demand. A further contraction is anticipated for 2025.
Western Europe faced a similarly difficult environment. High financing costs and surging energy prices drove an 8.0% decline in 2023 (to 63.6 million units) and a further 6.0% fall in 2024 (to 59.8 million units). No clear turnaround is expected before 2026. By contrast, the combined U.S. and Canadian window market performed comparatively well, growing by 2.9% in 2024. However, growth is expected to slow in 2025.
Asia on the Rise
While construction activity in Western and Eastern Europe weakened significantly in 2023 and 2024, window markets in Asia recorded robust growth. India (+6.2% by volume) and Southeast Asia (+5.9%) were among the world’s fastest-growing window markets in 2024. In India, rapid urbanization, rising incomes, and targeted government housing programs are driving residential construction. A major catalyst is the “Pradhan Mantri Awas Yojana” (PMAY) initiative launched in 2015, which aims to provide “Housing for All”, enabling millions of people to own their homes.
In contrast, the Chinese window market stagnated in 2024, mainly due to waning investor and consumer confidence. Contributing factors include declining new-home rental prices, high debt levels among property developers, and stricter government regulations on borrowing. An interest rate cut by the People’s Bank of China in early January 2025 is expected to stimulate construction activity in the second half of the year. However, investor confidence may remain fragile amid ongoing trade tensions between the U.S. and China, explains Laszlo Barla, the author of the study.
Metal and PVC Dominate the Global Market
Metal windows, with 194.4 million units in 2024, represent the largest product segment, followed by PVC windows with 182.7 million units. Wooden windows account for 54.3 million units worldwide, while hybrid combinations (wood/aluminum or PVC/aluminum) and other window types (such as fiberglass windows in the U.S. and Canada) together total 17.4 million units.
Metal windows slightly increased their market share, as non-residential construction outperformed the residential segment in several regions. Additionally, markets with a high share of metal windows—particularly in Asia—grew more strongly than regions dominated by PVC, such as the CIS countries, the Middle East, and CEE.
source: interconnectionconsulting.com
