The "Energy Retrofit Systems Market Size, Share & Trends Analysis Report By Application (Residential, Non-residential), By Product (LED Retrofit Lighting, Envelope), By Region (Europe, APAC), and Segment Forecasts, 2020-2028" report has been added to ResearchAndMarkets.com's offering.
The global energy retrofit systems market size is expected to reach USD 203.12 billion by 2028 and is expected to grow at a CAGR of 4.5% from 2020 to 2028
Increasing demand for renewable energy is expected to drive the market over the forecast period. The growing concerns about Greenhouse Gas (GHG) emissions and strict regulations to decrease carbon footprint are also projected to be the key factors driving the global market.
The economic crisis following the COVID-19 pandemic has led to a significant decline in investments for new energy-efficient buildings and equipment. In commercial and residential buildings, the energy-efficient systems, such as LED retrofit lighting, HVAC retrofit, insulation & glazing retrofit of windows, and retrofit of roofing, are primarily used to have a distributed generation of electricity to reduce the operational costs.
The COVID-19-imposed lockdown, which compelled most industries around the world to halt their production, resulted in reduced investments in overall energy efficiency systems by 9% in 2020. During the pandemic, people across major economies reduced visits to workplaces by over 60% as of April 2020, which led to a decrease in the consumption of electricity in commercial buildings. For instance, as per IEA, in the U.S., the average residential electricity consumption increased by 30% in April 2020, followed by a decline in the use of electricity in commercial buildings.
The growing installation of energy systems, along with the widespread accessibility of smart devices, has formed room for new business models to arise in the electricity sector due to a rise in demand for energy across the world. The energy-related needs of consumers in the residential, commercial, and industrial sectors are increasing day by day.
In the case of residential consumers, the availability of smart home devices has enabled continuous monitoring of power consumption. These factors are anticipated to drive the market during the forecast period.
Energy Retrofit Systems Market Report Highlights
Key Topics Covered:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Industry value chain analysis
3.4 Technology Overview
3.5 Regulatory Framework
3.5.1 Standards & Compliances
3.6 Market Dynamics
3.6.1 Market Driver Analysis
18.104.22.168 Need to improve energy efficiency
22.214.171.124 Rising energy consumption
126.96.36.199 Regulatory mandates and incentive programs
3.6.2 Market Restraint Analysis
188.8.131.52 Longer payback period and hidden costs
3.6.3 Industry Challenges
3.7 Business Environment Analysis: Energy Retrofit Systems Market
3.7.1 Energy Retrofit Systems Industry Analysis - Porter's
3.7.2 Energy Retrofit Systems Industry Analysis - PESTEL analysis
3.8 Impact of Corona Virus on Energy Retrofit Systems Market
3.10 Impact Verdict - Medium
Chapter 4 Global Energy Retrofit Systems Market: Product Estimates & Trend Analysis
4.1 Global Energy Retrofit Systems Market: Product Movement Analysis, 2020 & 2028
4.2 Market size & forecasts and trend analysis, 2020 to 2028 for the following:
4.1.2 LED Retrofit Lighting
4.1.3 HVAC Retrofit
Chapter 5 Global Energy Retrofit Systems Market: Application Estimates & Trend Analysis
5.1 Global Energy Retrofit Systems Market: Application Movement Analysis, 2020 & 2028
5.2 Market size & forecasts and trend analysis, 2020 to 2028 for the following:
Chapter 6 Global Energy Retrofit Systems Market: Regional Estimates & Trend Analysis
6.1 Global Energy Retrofit Systems Market: Regional Movement Analysis, 2020 & 2028
Chapter 7 Global Energy Retrofit Systems Market - Competitive Landscape
7.1 Key Global Players, Recent Market Developments & Their Impact on the Industry
7.2 Vendor Landscape
7.2.1 Company Market Position Analysis
Chapter 8 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/ej1h8a
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