Energy efficient construction market size is forecast to grow owing to support from regional governments in the form of incentives and promoting the technology through prescriptive measures and building codes. Rise in electricity prices is driving organizations and governments to install new technologies to control & monitor electricity usage in buildings.
LED lights, HVAC systems, and solar power are the key product types. HVAC systems are expected to witness significant demand due to increase in trend for green technology and reducing operational cost. Energy efficient market size for these products is expected to surpass USD 7 billion during the forecast period.
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In the commercial sector, major solar power installations were observed in hospitals, hotels, and offices. Batteries & chargers, attic fans, water heaters, and pool heaters are some residential applications. Cumulatively, over 175 GW of power was installed in 2015; it is predicted to exceed more than 590 GW by 2023, including both concentrated thermal power and photovoltaic.
Rapid industrialization and increase in trend for green technology is anticipated to provide a fillip to U.S. energy efficient construction market size. Europe energy efficient building market size is expected to witness notable growth; Germany, UK, and France are among key contributing countries owing to government regulations pertaining to control gas emissions and environment consciousness among end-users.
Saudi Arabia, Turkey, and Qatar are predicted to positively influence Middle East & Africa energy efficient construction market growth owing to increase in regional infrastructure spending. Countries with low capital such as Nigeria and Zimbabwe may witness sluggish growth due to high plant set up cost.
Rebates, tax credits, and incentives from governments is likely to encourage architects and infrastructure companies to install and purchases new and energy efficient construction materials. However, high initial investment cost and lengthy payback period is likely to hamper growth.
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Energy efficient construction market share is competitive and fairly consolidated; major players include Daikin, Honeywell, Hitachi Group, Mitsubishi Electric, Johnson Controls, Philips, OSRAM, Schneider Electric, Trane, and Siemens. Other companies include Ameresco, CBRE, Azbil, Danfoss, Cofely (GDF Suez), JLL, EON, NTT Facilities, and LG Electronics.
This latest Energy Efficient Construction market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across a number of regional markets. The report also analyzes the Energy Efficient Construction industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
Browse key industry insights spread across market data tables, figures & charts from the report “Energy Efficient Construction Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2023.” in detail along with the table of contents:
Key Insights in this Report
- Energy Efficient Construction market size & forecast by product & application
- Growth drivers, pitfalls & industry challenges
- Key Energy Efficient Construction market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
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