Energy Retrofits Systems Market

Energy Retrofits Systems Market: Overview 

With energy costs rising, consumers from residential, commercial, and public buildings are increasingly taking measures to enhance energy efficiency of their buildings. This has led to the concept of energy retrofits, wherein energy-consuming systems of existing buildings are revamped to reduce not only the energy consumption but also the greenhouse gases (GHG) emissions. This process involves replacing or improving lighting fixtures, ventilation systems, windows or doors, and adding insulation where required. 

Governments across countries in Europe are mandating building codes and have introduced green ratings for commercial buildings, thus driving the energy retrofits systems market. Governments are also providing incentives to consumers for the adoption of energy retrofit systems. Since commercial buildings particularly consume large quantities of energy due to heating/ventilation/air conditioning (HVAC), water heating, lighting, and other building systems, a high demand for energy retrofits systems exists from these buildings. 

The report covers the forecast and analysis of the energy retrofits systems market on the global as well as regional level. It gives a forecast based on revenue as well as volume. The drivers and restraints for the market as well as the impact they have on the deployment of energy retrofits systems over the forecast period from 2016 to 2024 are also included. Additionally, the report comprises a study of key opportunities and trends in the market. It also studies the impact of the various government and environmental regulations on the market. The competitive landscape of the market along with an analysis of Porter’s five forces model is presented. The market attractiveness analysis, growth rate, and market size are also given in the study. The market is segmented on the basis of building size, its age, region, energy utilization, and technology. 

Energy Retrofits Systems Market: Trends and Opportunities 

Energy scarcity is one of the prime factors driving the global energy retrofits systems market. The rising demand for energy owing to a surge in the industrialization and infrastructural development is also a significant driver of the global energy retrofits systems market. Implementation of energy retrofit products is being perceived as a corporate social responsibility by many organizations. Moreover, certain consumers install energy retrofits systems so as to conform to environmental standards and acquire ISO compliance, Greenpeace, and REACH certifications, thus attempting to raise their standards.  

Challenges faced by the global energy retrofits systems market include a dearth of skilled labor and high installation and initial costs. A lack of awareness regarding energy conservation techniques is also hampering the growth of the market. In addition to this, a lack of support and initiatives from governments in emerging countries will also restrain the market. 

Energy Retrofits Systems Market: Region-wise Outlook 

The report segments the global energy retrofits systems market on the basis of geography, into North America, Europe, Asia Pacific, and the Rest of the World. Europe and North America are key contributors to the revenue of the global energy retrofits systems market. 

Key Players Mentioned in the Report 

The report profiles key players operating in the global energy retrofits systems market. They are Burns & McDonnell, Chevron Energy Solutions, The Benham Companies, LLC/SAIC, AECOM Energy, Clark Energy Group, LLC., Daikin Industries, Ltd., Schneider Electric, Johnson Controls, Cofely/GDF Suez, ConEdison Solutions, and Ameresco, Inc. The recent developments and growth strategies adopted by each of the players have been included in the report.