New York (US), June 08, 2023 (GLOBE NEWSWIRE) -- Energy-Efficient Building Market Overview
According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Energy-Efficient Building Market Information by Building Type, Component Type, and Region - Forecast till 2030", The market for energy-efficient buildings will be developing at a rate of 5.93% from 2021 to 2030 to attain a valuation of USD 204.7 billion by 2030.
Market Synopsis
Regardless of the type of energy and equipment chosen for heating or cooling, energy-efficient buildings, whether newly constructed or renovated, are those that are designed to greatly reduce the amount of energy needed for those processes. By adopting steps to minimize energy loss, such as lowering the heat loss of the building envelope, energy-saving building design refers to the process of creating or modernizing structures that can utilize all of the power supplied to them.
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Market Competitive Landscape:
The affluent vendors active in the energy-efficient building market include
- Cleantech Group
- Johnson Controls
- Ameresco Inc.
- Serious Energy Inc.
- Knauf Insulation
- Architectural Energy Corporation
- KMC Controls Inc.
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size | 2030: USD of 204.7 billion |
| CAGR | 5.93% (2022 to 2030) |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Building Type, Component Type |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing number of green buildings, increasing the need for proper building energy management, and the adoption of smart building and sustainable solutions Increase in the number of initiatives taken by infrastructure and development organizations |
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Energy-efficient buildings will experience considerable market growth as a result of the key industry players' significant investments in R&D to diversify their product portfolios. Participants in the market are also increasing their global footprint through a range of strategic initiatives, including the launch of new products, contractual agreements, mergers and acquisitions, escalating investments, and collaboration with other firms. To live and thrive in a market that is growing more and more competitive, Advanced Building Materials' rivals must offer products that are reasonable.
Manufacturing locally to reduce operating costs is one of the primary business strategies adopted by manufacturers in the advanced building materials sector to serve customers and expand the advanced building materials market sector.
Market USP Covered:
Market Drivers:
Buildings that are energy efficient are in great demand as governments put more emphasis on energy conservation globally. Due to an increase in measures done by infrastructure and development organisations, the popularity of energy-efficient buildings has risen quickly in recent years. This forces businesses to give green building initiatives top priority. Due to a number of factors, including a growth in the number of green buildings, a greater requirement for effective building energy management, and the adoption of smart building and sustainable solutions, the global market for energy-efficient buildings is predicted to grow gradually. Government initiatives to promote resource conservation and energy efficiency are advancing the market on a global scale.
In order to promote the use of energy efficient buildings as well as the transformation of both existing and newly constructed structures, green building codes, policies, and programmes are continuously adjusted and updated. Increasing environmental concerns, stringent building code requirements, and a growing need for energy conservation are just a few of the elements creating attractive prospects for vendors in the global market for energy-efficient buildings.
Market Restraints:
The high implementation costs of energy-efficient buildings are one of their main drawbacks. Additionally, building supplies are not always accessible. Environmental concerns are by far the biggest drawback of energy-efficient buildings. Although it is less harmful to the environment and emits fewer carbon emissions, it has a modest negative impact on people's health. As a result of the house's high thermal insulation, there is less ventilation and air filtration, the chemicals have nowhere to go but gather there, which can lead to a number of ailments.
COVID 19 Analysis
The novel coronavirus spread quickly across many nations and regions, having a significant negative effect on both individual lives and the community as a whole. It started off as a human health issue before developing into a serious threat to trade, the economy, and the financial system on a worldwide scale. Due to the lockdown caused by the COVID-19 epidemic, the manufacture of many energy-efficient parts of energy-efficient buildings was halted. Spending on a range of residential and non-residential building construction projects was originally curtailed as a result of the economic slump. The intensity of the COVID-19 pandemic has, however, been much diminished as a result of the advent of several vaccines. The number of COVID-19 cases had drastically decreased by the middle of 2022. As a result, businesses that produce and hire contractors for energy-efficient buildings have fully resumed operations.
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Market Segmentation
By Component
Ventilation systems, Lighting technology, Energy management system, Control, HVAC, Water efficiency, Water heating, and Building envelope are the key components covered in the study. The energy management segment can anticipate recording the highest growth over the assessment timeline due to the surging need for highly equipped systems from different end-users.
By End-Users
Office, Retail, Education, Health care, Hotels and restaurants, Institutions, warehouses, and Transport are the top end-users of energy-efficient buildings. The commercial segment can expect to see tremendous expansion in the years to come as a result of the corporate sector's global expansion. Commercial structures are also embracing the eco-building trend. The demand for energy-efficient buildings has grown as a result of business owners' focus on sustainability.
By Sales Channel
Direct and Indirect are the main sales channels in the market.
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Regional Insights
The market in North America is expected to grow at the fastest rate in the coming years. Using cutting-edge technologies like the Internet of Things, big data, cloud computing, data analytics, deep learning, and artificial intelligence, the sector has seen the development of the most modern intelligent building solutions. Saving energy, cutting operating costs, bolstering comfort levels in buildings, and adhering to stricter international laws and sustainability standards are currently the key focus areas in the region. North America is also the most technologically sophisticated region in the world as a result of the region's businesses adopting new technologies quickly. Additionally, two significant nations that have aided in the technological advancement of the area are the United States and Canada.
Europe has a substantial market share because of stringent energy efficiency laws for sustainable development. Energy conservation is a significant priority for these two regions' sustainable growth, which is fueling the need for energy-efficient structures. Profitable solutions for intelligent buildings have also been developed as a result of the expansion of the European construction sector, which includes high-tech construction and rehabilitation projects. The increase in per capita energy prices, particularly in commercial and industrial buildings, can be blamed for the high adoption rate.
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