Energy-efficientBuilding Industry Outlook:
Energy-efficientbuildings are buildings which reduce the cost of energy required to power upappliances and equipment. The construction of new buildings and renovation ofold buildings which adhere to sustainable codes can lead the way inenergy-efficient building. The global energy-efficient building market reportby Market Research Future (MRFR) pinpoints pertinent trends and opportunitiesfor the period of 2019 to 2025 (forecast period). The COVID-19 pandemic and itsimpact are analyzed in the report.
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MarketScope
The global energy-efficientbuilding market growth is anticipated to register 9.68% CAGR during theforecast period.
The alarming levels ofpower consumption in buildings are primarily expected to drive the marketgrowth. Buildings accounted for 60% of electricity consumption in Europe in2016. Initiatives taken by nations to improve the energy-efficiency ofbuildings and conserve on power can bode well for the market. Establishment ofenergy standards and focus on contractors for developing energy-efficientbuildings by deconstructing old ones and enforcing regulations on new ones canfavor the market greatly.
Incentive programsrolled out by governments for real estate developers and sustainability goalswhich can be of benefit to commercial and residential building customers canfavor the market. The new practices of using renewable resources andenvironmental assessment of surroundings for developing green buildings candrive the global energy-efficiency building market till 2025.
Segmentation
The global energy-efficientbuilding industry has been segmented based onbuilding type and components.
Based on building type,the global energy-efficient buildings market has been segmented intoresidential, commercial, and industrial. The commercial segment is expected toregister the highest growth rate in the global market during the forecastperiod, owing to the growth of the corporate sector across the world.Furthermore, the focus on sustainability by corporations owing to lucrativeincentives can contribute to the global energy-efficient buildings market.
Based on component, theglobal energy-efficient building market has been segmented into energymanagement systems, controls, ventilation systems, and lighting technologies.The energy management segment is expected to register the highest growth duringthe forecast period owing to the rising demand for highly equipped systems fromthe end-users.
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RegionalAnalysis
Geographically, theglobal energy-efficient building industry has been segmented into five keyregions - North America, Europe, Asia Pacific (APAC), the Middle East &Africa (MEA), and South America.
In 2018, Europe andNorth America held significant energy-efficient buildings market shares of the global market, owing to the high regulationpertaining to energy efficiency aiming sustainable development. Sustainabledevelopment in these two regions in terms of energy conservation is taken ontop priority, which is propelling the demand for energy-efficient buildings.Moreover, the renovation of these buildings and integration of energy-efficientsolutions by using technology can bode well for the market. This is exemplifiedby the shift from wood heating systems to electric stoves. Moreover, theexports of energy-efficiency products from Ireland are evidence of the largepotential of the market.
However, the market inAPAC is expected to register the highest growth rate in the energy-efficientbuildings market trend during the forecast period. This can be attributedto the high requirement for energy efficiency in developing countries of China,India, and ASEAN countries. Certification of buildings, energy auditing, andenergy performance requirements are factors likely to be lucrative for theglobal energy-efficient building market. But lack of government support and lowawareness of green buildings can impede the market growth.
Furthermore, high-scaleconstruction activity in the MEA is also expected to support and contributesignificantly to the growth of the regional energy-efficient building market. The growth can also be attributed to the rising energy requirement.Moreover, the tax credits and green bonds offered to companies for encouragingsustainable building construction can bolster the market growth effectively.
CompetitiveOutlook
KMC Controls Inc.,Serious Energy Inc., Knauf Insulation, Ameresco Inc., Johnson Controls,Architectural Energy Corporation, Cleantech Group are key players of the globalenergy-efficient building market.
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