Energy retrofit assigns
to the revamping of existing buildings to decrease the overall energy
consumption and green house gas (GHG) emissions. With the growing GHG emissions
and rising cost of energy, the owners of commercial, residential and public
buildings are interested to improve the energy effectiveness of their building.
It is categorized into deep energy retrofit and conventional energy retrofit. The
energy retrofit installations of complete building retrofit installations are
considered to save high energy bills. In conventional energy retrofit
installations generally simple & fast methods are used with several systems
considered. Moreover, it also offer various advantages for instance improvement
of the energy efficiency, increase in the building resale value, improvement in
the indoor comfort, protecting human health & environment, and save on high
energy bills.
According to
study, “Global Energy Retrofit Systems Market
Size study, by Building Type (Residential Building, Commercial and Public
Building), by Technology (HVAC & Control, Insulation & Glazing,
Lightning & Control, Water Heating) and Regional Forecasts 2018-2025” some of the major companies
that are currently working in the global energy retrofit systems market are AECOM
Energy, Johnson Controls, Daikin Industries, Energy Retrofit Co., Eaton Corp, Orion
Energy Systems, Siemens Building Technologies, Wahaso, Phillips Lighting, E.ON
Energy Services, Chevron Energy Solutions, Trane, Ameresco Inc., Schneider
Electric.
Based on product
type, energy retrofit systems market is segmented into fuel cell and batteries.
Based on building type market is segmented into commercial & public
building and residential building. Based on technology, market is segmented
into lighting & control, Heating, ventilation, and air conditioning (HVAC) &
control, water heating and insulation & glazing. Based on use of energy
retrofit system, market is defined as residential buildings and non-residential
buildings.
The global energy
retrofit systems are driven by increase in demand & inadequate storage
system which fulfill the energy constraint. In addition, key factors hindering
the market growth are high installation cost followed by lack of consumer
awareness.
The rapid
globalization with the mounting need for affordable & secure energy has
made energy retrofit systems adds to one of the most significant industries
across the globe. However, with an extraordinary upsurge the order for
renewable energy sources, is set to view a transformation. The rapid appearance
of the systems has proven to be an extra massive game changer for the industry
worldwide. Furthermore, the continuing urbanization in emerging nations and the
growing global population are supporting the market in treading along a healthy
development track.
The North American
region holds the major market share with existing of green building norms &
government initiatives towards energy efficiency. As well as, Europe also
contributes to a key growth rate in the market caused by increasing consumer
awareness as regards to energy retrofitting. In addition, Asia-Pacific region is
also expected to demonstrate higher CAGR over the calculated period 2018-2025 due
to increase in policies and programs for development of the rating system such
as Three Star Rating System with the intention of promote green building in
countries like China.
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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
