Subject: MRR
North America Energy Saving and Performance Contracting Market Set for Growth - Forecast to 2028
DUBLIN, March 22, 2024 /PRNewswire/ -- The "North America Energy Saving and Performance Contracting Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
The landscape of the North American energy sector is evolving, with an increased focus on energy efficiency and sustainability. A new research publication thoroughly analyzes the Energy Saving and Performance Contracting (ESPC) market, providing insights into the opportunities that lie ahead. The burgeoning necessity to reduce energy consumption amidst rising demands?including innovations like electric vehicle charging?places ESPC as a pivotal solution for achieving energy efficiency across the continent.
The study examines the ESPC market dynamics in North America, highlighting a slight deceleration in growth rates recorded for 2021 and 2022, with the public sector experiencing significant challenges. Contrasting with this trend, the industrial and commercial sectors showed resilience and expanded, guided by an emphasis on enhancing building standards and safety in the post-COVID era.
Anticipated Market Growth and Driving Factors
Predictions within the study indicate an expectation for the market to grow at a compound annual growth rate of 5.9% from 2022 to 2028.
- Aging infrastructure requiring modernization
- Escalating electricity prices
- Increasing dependency on traditional fossil fuels
- Building energy targets aspiring towards net-zero energy buildings by 2030 and 2050
- Financing models that alleviate the initial capital expenditure for clients
However, the growth is tempered by certain restraints such as unpredictable policy changes, reduction in government funding, complexities within contractual agreements, and external socio-economic factors including supply chain disruptions and natural disasters.
Market Segmentation Insights
The research publication offers a detailed segmentation of the ESPC market. The analysis spans various customer sectors and types of energy conservation measures:
- Customer Sector: Federal, state/municipal, K-12 schools, universities, healthcare, public housing, industrial, and commercial sectors.
- Energy Conservation Measures: Lighting, HVAC, building automation and controls, building envelope, water conservation, renewable energy, and other advanced solutions like CHP and microgrids.
As the North American ESPC market advances, key influencers for future growth include the reformation of energy efficiency policies, the implementation of cutting-edge analytical platforms, and an enhanced emphasis on health and well-being in conjunction with energy efficiency.
The findings of this research are crucial for stakeholders looking to navigate the complexities of the ESPC market and capitalize on emerging growth opportunities within North America. Industry players, policymakers, and investors will find this study to be an indispensable resource as they strategize for a more energy-efficient and sustainable future.
The comprehensive analysis presented in this new research publication is a significant contribution to understanding the growth trajectory and development strategies of the ESPC market in North America, amid a global shift towards more sustainable building practices and energy use.
For more information about this report visit https://www.researchandmarkets.com/r/14im8f
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SOURCE Research and Markets
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