The need of energy efficient control systems has led to the development of mechanical systems which could provide the required environment in a cost effective manner. On a global scale, commercial and residential buildings account for a major share of the total energy consumption. The commercial and residential complexes consume a substantial amount of energy related to activities such as Heating, Ventilating and Air- Conditioning (HVAC) systems, lighting and water management activities. Several countries are implementing energy efficient systems to optimize energy consumption and reduce emissions. Energy retrofits in commercial and residential buildings provide an improvised method for energy security. The market for energy efficiency retrofits is directly influenced by many building standards. The ISO is one such environmental standard which has established principles related to building designs. The market for advanced energy efficiency retrofits control systems is anticipated to rise at a rapid pace in the future due to increasing demand for such smart control systems.  

Energy cost reduction initiatives and regulatory measures are the major drivers bolstering investment in energy efficiency retrofit market. The increasing expenditure on energy systems and enforcement of strict emission regulations have forced many industrial and commercial organizations to adopt for advanced energy efficiency retrofit systems. The policy incentives announced by governmental agencies in several nations have attracted building developers to invest in this technology. The real estate market value of the commercial and residential buildings substantially increases if the building developers invest in energy efficiency systems by replacing old conventional technologies. In developed economies such as the U.S., the government has announced clear policy objectives and financing schemes for energy efficiency retrofits in public buildings. Attractive public polices and incentive schemes for energy efficiency retrofits are some of the major factors for the success of this market in developed economies. Lack of product differentiation in this market has significantly increased competition among the various market players and this acts a major restraint for companies willing to enter the energy efficiency retrofits market.

The market for energy efficiency retrofits can be segmented on the basis of end-user segments. Heating, Ventilating and Air- Conditioning (HVAC), lighting, building, control systems, water management services, and energy efficiency services are the major segments included in this study. 

Many government societies and standards govern the regional markets of energy efficiency retrofit systems for commercial and residential complexes. American Society of Heating, Refrigerating and Air-Conditioning Engineers are one such society which has enforced certain regulations which influence the HVAC control systems market. In North America and Europe several old energy systems are being retrofitted with new energy efficient systems. The regulatory and policy measures announced by governmental agencies in these regions are the major factors attracting investment in this market. These regions are anticipated to account for a significant share of the overall retrofit market for energy efficient systems. The growing need for efficient heating and cooling solutions in the developing economy of Asia Pacific will provide the major market for energy efficiency retrofits. The increasing residential requirement in the Middle East region is another potential segment for the growth of this market.

Several major players are investing substantial amounts in providing solutions for energy efficiency retrofits in commercial and residential buildings. Some of the key players are Ameresco, Inc., Daikin Industries, Siemens Building Technologies, E.ON Energy Services, Eaton Corp. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Energy Efficiency Retrofits Market

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