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.
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
- 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.