Global Energy Saving and PerformanceContracting Market: Overview
Theconcept of energy saving and performance contracting (ESPC) involves severalprocesses in order to achieve greater energy efficiency. Increasing populationacross the world and consequent rapid urbanization, the demand for energy istouching new peaks. Smart cities and smart buildings are now being built inbudget-neutral approach to reduce energy and water consumption. Frequently,renewable energy projects are installed and technology enables wastage of thesame. By working in accordance to an energy service company (ESCO), the ownersof a facility can significantly curtail their energy demand on a daily basisand gain greater return of investment (ROI). Consequently, the demand in the globalenergy saving and performance contracting market is expected to expandat a rapid rate during the forecast period of 2016 to 2024.
Thisreport on the global market for energy saving and performance contractingaspires to serve as a credible business document for audiences such as nationaland state governments, municipal authorities, real estate developers, ITsolution providers, system integrators, networking solution providers, andutilities companies. All important factors that may influence the demand inESPC market have been analyzed for their eventual impact and future revenueestimations are included in the report. The report also profiles a number ofkey players currently participating in the global energy saving and performancecontracting market and evaluates their share of the pie as well as recentstrategic decisions.
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The globalmarket for energy saving and performance contracting can be segmented on thebasis of technology into heating, ventilation, and air conditioning (HVAC),combined heat and power (CHP), district heating (DH) refurbishment, and fuelswitch, indoor and outdoor lighting, renewable energy sources (RES)utilization, and others including gas distribution, reactive power, processunit, combustion improvement, and compressed air. By business contract model,the market can be segmented into guaranteed savings model, shared saving model,and others. By end-use sectors, the market for energy saving and performancecontracting can be segmented into industry, tertiary, public, and residential.Geographically, the report studies the potential of energy saving andperformance contracting market in several regions such as Asia Pacific, NorthAmerica, Latin America, the Middle East and Africa, and Europe.
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Global Energy Saving and PerformanceContracting Market: Trends and Opportunities
Among thekey factors driving the global ESPC market is the liberalization andrestructuring of the electricity and gas markets. In addition to that,initiatives taken by public and private sectors in accordance with climatechange is another factors augmenting the demand in the global energy saving andperformance contracting market. Increasing awareness pertaining to the need ofevery conservation, higher return of investment in a longer run, governmentsupport and legislations for performance contracting, and increased investmentfor renewable sources of energy such as solar power are some of the otherfactors favoring the global market for energy saving performance contracting.On the other hand, the lack of commercially sustainable projects is hinderingthe market from attaining its true potential.
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Global Energy Saving and Performance Contracting Market:Regional Outlook
Currently,North America serves the maximum demand in ESPC market, which is a reflectionof greater adoption of new technology, government support, and the presence ofseveral key companies in the country of the U.S. However, Asia Pacific residesa number of emerging economies such as India, China, Japan, South Korea, andSingapore and is expected to expand the demand at the most prominent rateduring the forecast period. The Middle East countries also have a flourishingconstruction industry, and are incrementing the demand for energy savingperformance contracting.
Companies mentioned in the research report
LUTRON,Crowley Carbon Ltd., OSRAM, Veolia, Candelas Ltd., and Dalkia are some of thekey vendors operating in the global energy saving performance contractingmarket.
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