PUBLISHER: The Business Research Company | PRODUCT CODE: 1465766
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465766
Energy-efficient buildings are structures meticulously designed and built with a primary emphasis on reducing energy consumption, all the while ensuring the preservation or enhancement of occupant comfort, health, and productivity. These principles extend beyond residential construction and are also applied in the planning and operation of commercial and industrial facilities, including offices, retail stores, factories, warehouses, and institutional buildings.
Energy-efficient buildings encompass various components, including heating, ventilation, and air conditioning (HVAC) systems, lighting solutions, building controls, water efficiency measures, water heating systems, building envelope enhancements, and other elements. HVAC specifically involves systems within buildings that regulate temperature, humidity, and air quality. This comprises heating systems for warmth, ventilation systems to ensure fresh air circulation, and air conditioning systems for cooling purposes. Materials utilized in energy-efficient construction include roofing materials, fiber cement, concrete tiles, insulation, construction chemicals, sealants, water proofers, and other relevant components. These technologies and materials find applications across residential, commercial, and industrial sectors.
The energy-efficient building market research report is one of a series of new reports from The Business Research Company that provides energy-efficient building market statistics, including energy-efficient building industry global market size, regional shares, competitors with an energy-efficient building market share, detailed energy-efficient building market segments, market trends and opportunities, and any further data you may need to thrive in the energy-efficient building industry. This energy-efficient building market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The energy-efficient building market size has grown strongly in recent years. It will grow from $125.84 billion in 2023 to $135.6 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth observed in the historical period can be attributed to several factors, including fluctuations in energy prices, evolving environmental regulations, technological advancements, increased public awareness, and government incentives.
The energy-efficient building market size is expected to see strong growth in the next few years. It will grow to $174.01 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The anticipated growth in the forecast period can be attributed to concerted efforts in climate change mitigation, ongoing technological innovation, prevailing urbanization trends, a rising demand for sustainable buildings, and increasing concerns about energy security. Key trends in the forecast period encompass the development of net-zero energy buildings, the incorporation of passive design principles, the adoption of modular construction for enhanced energy efficiency, the integration of the Internet of Things (IoT) in building management, and the application of circular economy principles.
The anticipated rise in government investment is poised to drive the growth of the energy-efficient building market. Government investment involves the allocation of funds by governmental bodies for diverse purposes, including infrastructure development, social programs, education, healthcare, research and development, and clean energy initiatives. In the context of energy-efficient building initiatives, government investment plays a pivotal role in fostering the adoption of sustainable building practices. This, in turn, leads to a reduction in energy consumption, a decrease in greenhouse gas emissions, and the promotion of economic growth and resilience. According to the International Energy Agency (IEA), government allocations of $1.34 trillion since 2020 have incentivized investments in clean energy, resulting in a 25% surge in clean energy investments from 2021 to 2023, emphasizing the significant impact of government support on the energy-efficient building market.
Key players in the energy-efficient building market are actively engaged in developing innovative products featuring advanced technologies, with a particular focus on smart Internet of Things (IoT) solutions to enhance market profitability. Smart IoT solutions play a crucial role in promoting energy efficiency across various domains, including homes, buildings, industries, and cities. These solutions contribute to sustainability and environmental conservation efforts. Siemens AG, a Germany-based energy technology and manufacturing company, exemplifies this trend with the March 2023 launch of the Connect Box. This IoT solution, tailored for small to medium-sized buildings, seamlessly integrates wired or wireless devices, optimizing energy usage, monitoring performance, and improving indoor air quality through real-time analysis. With a plug-and-play setup, diverse licensing options, and user-friendly interfaces, the Connect Box addresses varied needs while ensuring compliance with sustainability regulations and delivering up to 30% energy savings.
In May 2023, Bosch Building Technologies, a Germany-based company providing integrated solutions for building security, building automation, and energy services, acquired Paladin Technologies for an undisclosed amount. This strategic acquisition reinforces Bosch's expertise, market presence, and competitive advantage in North America's commercial building services industry, driven by the increasing emphasis on energy efficiency and security needs. Paladin Technologies, a Canada-based company specializing in complex systems integration for building technology solutions, brings valuable capabilities in IP security, audiovisual, low voltage, and integrated technology solutions to further complement Bosch's offerings in the energy-efficient building market.
Major companies operating in the energy-efficient building market are Siemens AG, Panasonic Corporation, GE Electrical Equipment, Veolia Environnement S.A., Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Daikin Industries Ltd., Toshiba Corporation, Johnson Controls International plc, Eaton Corporation PLC, Carrier Global Corporation, Koninklijke Philips N.V., Trane Technologies plc, Emerson Electric Co., Legrand S.A., Osram GmbH, Acuity Brands Inc., Itron Inc., Zumtobel Group AG, Cree Inc., GridPoint Inc., Pacific Controls Inc., BuildingIQ Inc
Europe was the largest region in the energy-efficient building market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the energy-efficient building market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the energy-efficient building market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The energy-efficient building market includes revenues earned by entities by providing services such as conducting energy audits, designing energy-efficient systems, installing high-efficiency equipment, providing maintenance, incorporating renewable energy sources, implementing building automation, monitoring energy use, and educating occupants. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Energy-Efficient Building Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on energy-efficient building market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for energy-efficient building ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The energy-efficient building market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.