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Energy-efficient Building Industry Outlook:
Energy-efficient buildings are buildings which reduce the cost of energy required to power up appliances and equipment. The construction of new buildings and renovation of old buildings which adhere to sustainable codes can lead the way in energy-efficient building. The global energy-efficient building market report by Market Research Future (MRFR) pinpoints pertinent trends and opportunities for the period of 2019 to 2025 (forecast period). The COVID-19 pandemic and its impact are analyzed in the report.
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The global energy-efficient building market is anticipated to register 9.68% CAGR during the forecast period.
The alarming levels of power consumption in buildings are primarily expected to drive the market growth. Buildings accounted for 60% of electricity consumption in Europe in 2016. Initiatives taken by nations to improve the energy-efficiency of buildings and conserve on power can bode well for the market. Establishment of energy standards and focus on contractors for developing energy-efficient buildings by deconstructing old ones and enforcing regulations on new ones can favor the market greatly.
Incentive programs rolled out by governments for real estate developers and sustainability goals which can be of benefit to commercial and residential building customers can favor the market. The new practices of using renewable resources and environmental assessment of surroundings for developing green buildings can drive the global energy-efficiency building market till 2025.
The global energy-efficient building industry has been segmented based on building type and components.
Based on building type, the global energy-efficient buildings market has been segmented into residential, commercial, and industrial. The commercial segment is expected to register the highest growth rate in the global market during the forecast period, owing to the growth of the corporate sector across the world. Furthermore, the focus on sustainability by corporations owing to lucrative incentives can contribute to the global energy-efficient buildings market.
Based on component, the global energy-efficient building market has been segmented into energy management systems, controls, ventilation systems, and lighting technologies. The energy management segment is expected to register the highest growth during the forecast period owing to the rising demand for highly equipped systems from the end-users.
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