Pune, India, Jan. 31, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global energy retrofit systems market share was valued at USD 142.88 million in the year 2020 and is expected to grow at 4.5% CAGR, thereby reaching a valuation of USD 194.44 million by the end of forecast period 2021-2027.
Furthermore, the research segregates the marketplace into various verticals based on type and application to determine the information on the growth rate and market share held by each of them. With the help of trustworthy sources, intel about the past data from 2018-2020, and future predictions for 2021-2027 are provided in the report.
The study conducts a comprehensive analysis of the regional markets to ascertain the regions creating lucrative prospects and generating maximum revenue for the overall environment. It also studies in detail the prominent players who are enhancing the scope of the market by outlining results from Porter’s 5 Force model to gauge the market attractiveness through 2027.
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The surging efforts to improve the efficiency of energy, coupled with the growing energy consumption are factors contributing to the expansion of the market.
In this regard, reports from the International European Agency have stated that the worldwide electricity consumption is anticipated to grow by 50% during 2018 and 2050.
For the unversed, retrofit systems help in reducing costs of energy substantially, particularly in houses and offices. Numerous incentive programs and regulatory standards issued by governments in the world are likely to create lucrative opportunities for businesses in this line of work in the forthcoming years.
Despite the positive outlook, the hidden costs involved in installing the systems and the longer payback period are predicted to hinder the industry development through 2027.
Regional analysis:
As per expert analysts, Europe energy retrofit systems industry accounts for a significant revenue share at present and is poised to witness exponential growth during the assessment timeframe, due to heavy funding received from European Union (EU) for energy conservation and enhancement of energy efficiency projects. Also, growing concerns about greenhouse gas (GHG) emissions, and government initiatives to decrease carbon footprint have further accelerated the progress in the regional market.
Competitive Dashboard:
Companies such as Daikin Industries Ltd., Signify N.V., Ameresco, Inc., Orion Energy Systems, Inc., Eaton Corporation PLC, Trane Technologies, Inc., AECOM Technology Corporation, Engie SA, Siemens AG, and Johnson Controls International among others are influencing the worldwide energy retrofit systems market trends.
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Global Energy Retrofit Systems Market, By Product Type (Revenue, USD Million, 2018-2027)
- Envelope
- HVAC Retrofit
- Appliances
- LED Retrofit Lighting
Global Energy Retrofit Systems Market, By Application (Revenue, USD Million, 2018-2027)
- Residential
- Non-residential
Global Energy Retrofit Systems Market, Regional Analysis (Revenue, USD Million, 2018-2027)
North America
- Canada
- U.S.
Europe
- France
- Italy
- Germany
- Spain
- UK
- ROE
Asia Pacific
- India
- Japan
- South Korea
- Australia
- China
- RoAPAC
Latin America
- Brazil
- Mexico
Rest of the World
Global Energy Retrofit Systems Market, Competitive Dashboard (Revenue, USD Million, 2018-2027)
- Daikin Industries Ltd.
- Signify N.V.
- Ameresco, Inc.
- Orion Energy Systems, Inc.
- Eaton Corporation PLC
- Trane Technologies, Inc.
- AECOM Technology Corporation
- Engie SASiemens AG
- Johnson Controls International
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Million)
1.2.1. Energy Retrofit Systems Market , by Region, 2019-2027 (USD Million)
1.2.2. Energy Retrofit Systems Market , by Product Type, 2019-2027 (USD Million)
1.2.3. Energy Retrofit Systems Market , by Application, 2019-2027 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Energy Retrofit Systems Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Energy Retrofit Systems Market Dynamics
3.1. Energy Retrofit Systems Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Need to improve energy efficiency
3.1.1.2. Rising energy consumption
3.1.2. Market Restraint
3.1.2.1. Longer payback period and hidden costs
3.1.3. Market Opportunities
3.1.3.1. Regulatory mandates and incentive programs
Chapter 4. Global Energy Retrofit Systems Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2027)
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Energy Retrofit Systems Market, by Product Type
5.1. Market Snapshot
5.2. Global Energy Retrofit Systems Market by Product Type, Performance - Potential Analysis
5.3. Global Energy Retrofit Systems Market Estimates & Forecasts by Product Type 2018-2027 (USD Million)
5.4. Energy Retrofit Systems Market, Sub Segment Analysis
5.4.1. Envelope
5.4.2. LED Retrofit Lighting
5.4.3. HVAC Retrofit
5.4.4. Appliances
Chapter 6. Global Energy Retrofit Systems Market, by Application
a. Market Snapshot
6.1. Global Energy Retrofit Systems Market by Application, Performance - Potential Analysis
6.2. Global Energy Retrofit Systems Market Estimates & Forecasts by Application 2018-2027 (USD Million)
6.3. Energy Retrofit Systems Market, Sub Segment Analysis
6.3.1. Residential
6.3.2. Non-Residential
Chapter 7. Global Energy Retrofit Systems Market, Regional Analysis
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