All updated as on -
The market size for energy retrofit systems was estimated at USD 150.9 billion in 2022. It is anticipated that the market for Energy Retrofit Systems will increase from USD 161.2 billion in 2023 to USD 272.8 billion in 2030, with a compound yearly growth rate (CAGR) of 7.80% over the five-year forecast period (2023–2030). The key market drivers boosting the market expansion are the rising concern over GHG emissions and the rigorous regulations limiting carbon footprint.
Two variables that are projected to fuel the surge are growing concerns about greenhouse gas (GHG) emissions and rigorous legislation to limit carbon footprint. Increased HVAC appliance adoption across a range of companies is predicted to boost product demand even more. HVAC and lighting technology typically have a 25-year lifespan after which they must be replaced. By upgrading these systems, energy expenses for households and businesses are greatly decreased. Additionally, it is projected that awareness of the use of renewable energy will continue to grow quickly due to the financial incentives offered by governmental organisations. If modules for energy retrofit systems are to perform better, technology must progress continuously.
The Department of Energy (DOE) has also funded the Solution to Improve the Energy Efficiency of Small and Medium Buildings and launched the Commercial Buildings Integration effort. Through these initiatives, a project was successfully completed with yearly energy savings of 103,166 MMBtu, a reduction in greenhouse gas (GHG) emissions of 190,298 throughout the course of the renovations, and annual utility savings of $4,008 per structure.
Research and development (R&D) is a significant amount of the annual budget for the producers and developers of these components. These systems' functionality depends on the flawless integration of all of their parts in order to satisfy system requirements. All the parts are combined by integrators and assemblers to produce complete energy retrofit systems. Such systems are designed and integrated for a variety of applications by businesses like Siemens, General Electric, Schneider Electric, and Johnson Controls. The installation and application of energy retrofit systems, such as envelope retrofit systems, LED lighting retrofit systems, and HVAC energy retrofit systems, is what drives market players' profitability. End users can gain from these energy retrofit systems in a number of ways, including better room ventilation. These elements support the market for energy retrofit systems' expansion and expansion.
Additionally, innovation and technical development are vital in accelerating the growth of the market for energy retrofit systems. Innovative and cutting-edge technologies are being used by major industry participants to create energy retrofit solutions. They are also spending a lot of money developing new items for the market for energy retrofit solutions. To promote the benefits of energy retrofit systems globally, these key market players use strategies like product launches, joint ventures, partnerships, acquisitions, and mergers. fuelling the market for Energy Retrofit Systems' revenue.
Report Coverage
Global Energy Retrofit Systems research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Energy Retrofit Systems report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Energy Retrofit Systems competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Energy Retrofit Systems market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Energy Retrofit Systems market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Energy Retrofit Systems market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
DAIKIN INDUSTRIES, Ltd., Ameresco, Eaton, AECOM, Johnson Controls, Orion Energy Systems, Inc., Siemens, Trane, Signify Holding, Engie, General Electric, and Schneider Electric
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Energy Retrofit Systems market based on the below-mentioned segments:
Global Energy Retrofit Systems Market, By Product
Envelope
LED Retrofit Lighting
HVAC Retrofit
Appliances
Global Energy Retrofit Systems market, By Application
Residential
Non-Residential
Global Energy Retrofit Systems market, Regional Analysis
Two variables that are projected to fuel the surge are growing concerns about greenhouse gas (GHG) emissions and rigorous legislation to limit carbon footprint. Increased HVAC appliance adoption across a range of companies is predicted to boost product demand even more. HVAC and lighting technology typically have a 25-year lifespan after which they must be replaced. By upgrading these systems, energy expenses for households and businesses are greatly decreased. Additionally, it is projected that awareness of the use of renewable energy will continue to grow quickly due to the financial incentives offered by governmental organisations. If modules for energy retrofit systems are to perform better, technology must progress continuously.
The Department of Energy (DOE) has also funded the Solution to Improve the Energy Efficiency of Small and Medium Buildings and launched the Commercial Buildings Integration effort. Through these initiatives, a project was successfully completed with yearly energy savings of 103,166 MMBtu, a reduction in greenhouse gas (GHG) emissions of 190,298 throughout the course of the renovations, and annual utility savings of $4,008 per structure.
Research and development (R&D) is a significant amount of the annual budget for the producers and developers of these components. These systems' functionality depends on the flawless integration of all of their parts in order to satisfy system requirements. All the parts are combined by integrators and assemblers to produce complete energy retrofit systems. Such systems are designed and integrated for a variety of applications by businesses like Siemens, General Electric, Schneider Electric, and Johnson Controls. The installation and application of energy retrofit systems, such as envelope retrofit systems, LED lighting retrofit systems, and HVAC energy retrofit systems, is what drives market players' profitability. End users can gain from these energy retrofit systems in a number of ways, including better room ventilation. These elements support the market for energy retrofit systems' expansion and expansion.
Additionally, innovation and technical development are vital in accelerating the growth of the market for energy retrofit systems. Innovative and cutting-edge technologies are being used by major industry participants to create energy retrofit solutions. They are also spending a lot of money developing new items for the market for energy retrofit solutions. To promote the benefits of energy retrofit systems globally, these key market players use strategies like product launches, joint ventures, partnerships, acquisitions, and mergers. fuelling the market for Energy Retrofit Systems' revenue.
Report Coverage
Global Energy Retrofit Systems research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Energy Retrofit Systems report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Energy Retrofit Systems competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Energy Retrofit Systems market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | DAIKIN INDUSTRIES, Ltd., Ameresco, Eaton, AECOM, Johnson Controls, Orion Energy Systems, Inc., Siemens, Trane, Signify Holding, Engie, General Electric, and Schneider Electric |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Energy Retrofit Systems Market from 2021 to 2030.
- Market Forecast for Energy Retrofit Systems Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Energy Retrofit Systems competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Energy Retrofit Systems
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Energy Retrofit Systems market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Energy Retrofit Systems market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
DAIKIN INDUSTRIES, Ltd., Ameresco, Eaton, AECOM, Johnson Controls, Orion Energy Systems, Inc., Siemens, Trane, Signify Holding, Engie, General Electric, and Schneider Electric
Primary Target Market
- Market Players of Energy Retrofit Systems
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Energy Retrofit Systems market based on the below-mentioned segments:
Global Energy Retrofit Systems Market, By Product
Envelope
LED Retrofit Lighting
HVAC Retrofit
Appliances
Global Energy Retrofit Systems market, By Application
Residential
Non-Residential
Global Energy Retrofit Systems market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
You will get in-depth and extensive energy retrofit systems market market research and competitor analysis for your business to help you develop more profound insights into the energy retrofit systems market Market.
Through INFINITIVE Data Expert is a professional Market Research services, I will identify the energy retrofit systems market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.