Energy Efficient Building Market Overview
An overview of conceptual frameworks, analytical approaches of the energy efficient building market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The energy efficient building market is expected to grow at a significant rate in the near future.
The global energy efficient building market is estimated to reach at a value of US$ 235.7 Bn by the end of 2020 and expected to reach at a value of US$ 476.4 Bn by 2028 with a significant CAGR of 9.2%
Energy Efficient Building Market Definition
Energy is one of the most crucial impetus in economic growth, wealth generation, and social development all around the world. Globally the building sector has a significant share in total energy consumed across the world, which approximately accounts for around 42 percent that is more electricity usage than any other sector. It is no surprise considering that the population around the world spends more than 90 percent of their time in buildings, be it their households, workplace or any other place. In the present times, when urbanization is at its very height, especially in developing countries, the total count and size of buildings in urban areas would definitely rise, resulting in an escalated demand for electricity and other forms of energy generally used in buildings.
Energy is consumed in every stage of the building lifespan, depending on the architectural design, choice of locality, material selection and structural systems, building development, utilization and maintenance, demolition work, reuse-regain-recycle, and waste management. Energy efficient buildings (renovated existing buildings or new constructions) can be comprehended as buildings that are developed to offer a considerable cutback of the energy needed for cooling and heating, independently of the energy and of the equipment that will be chosen to heat or cool the building.
Energy Efficient Building Market Dynamics
As per the statistics of the United Nations, the worldwide population is anticipated to rise by 2 billion people in the forthcoming 30 years, escalating from 7.7 billion at present to 9.7 billion by the year 2050 and could mount at approximately 11 billion nearly by the year 2100. At the same time, given the rapid pace of urbanization across the globe, in both developing as well as developed nations, the number and size of buildings are also foreseen to be elevating as a consequence, resulting in surged demand for electricity and other forms of energy that is generally used in buildings. Owing to which, there are huge chances of the development of energy efficient buildings in the present-day world as well as a renovation of already existing conventional buildings, which in turn is expected to boost the growth of the global energy efficient building market over the coming years.
Apart from that, buildings are determined to be both, one of the biggest producers of greenhouse gases as well as largest consumers of energy. Whether it is a residential house in the countryside or a workplace in the midst of the city, the buildings we reside in have a wide spectrum of needs. Therefore, the negative impact of buildings on the environment is becoming a concern for society nowadays.
Advanced energy efficient buildings are the buildings that are designed in a way to offer a considerable downsizing of the energy required for heating and cooling, irrespective of the equipment and the energy that will be preferred to cool or heat the building. As a matter of fact, only when the building has been developed to downsize the energy usage and waste, it would be logical to begin considering the energy source comprising renewable energy and the heating and cooling equipment. Attributing to such factors, the global energy efficient building market is expected to witness significant demand over the forecast period.
Energy Efficient Building Market Segmentation
The global energy efficient building market is segmented on the basis of building type, component type, and regions. On the basis of building type, the energy efficient building market is segmented into Residential, Commercial, and Industrial. On the basis of component type, the market is categorized into ventilation systems, lighting technologies, energy management systems, and controls.
The research report classifies the global energy efficient building market based on building type, component type, and regions.
By Building Type
By Component Type
Energy Management Systems
Energy Efficient Building Market Key Players
The global energy efficient building market is dominated by Cleantech Group, Johnson Controls, Ameresco Inc., Serious Energy Inc., Knauf Insulation, Architectural Energy Corporation, KMC Controls Inc., among others.
MMC Overview on Energy Efficient Building Market Report
The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.
A research report on the energy efficient building market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market. The report is titled ‘Energy Efficient Building Market: Opportunity Analysis and Future Assessment 2020-2028’.
Factors that are benchmarked while estimating the market
Various factors that are benchmarked while estimating the market growth includes (but not restricted to):
New product designs and launches
Current product compliance
Concerns for use of energy efficient building
Advantage of energy efficient building
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.