Energy retrofit systems market: Growth opportunities led by AECOM, Ameresco Inc., Chevron Corp
NEW YORK, Dec. 6, 2022 /PRNewswire/ -- The energy retrofit systems market size is forecast to increase by USD 41.94 billion from 2022 to 2027, at a CAGR of 5.84%, according to the recent market study by Technavio. The growth of the market will be driven by the increasing demand for energy efficiency and the rise in the incorporation of building automation systems (BASs).
Technavio categorizes the global energy retrofit systems market as a part of the oil & gas equipment & services, which covers products and companies engaged in research and development (R&D) of a variety of product categories, including capital equipment, instruments, implants, accessories, and consumables that are used for the diagnosis, monitoring, and treatment of various diseases.
Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report.
Technavio has extensively analyzed 15 major vendors, including AECOM, Ameresco Inc., Chevron Corp., Daikin Industries Ltd., Danfoss AS, Dow Inc., ENGIE SA, General Electric Co., Johnson Controls International Plc, Koninklijke Philips NV, National LED Inc., Ocean Insight, Orion Energy Systems Inc., Redaptive Inc., Renew Energy Partners LLC, ROI Energy Solutions Inc., Schneider Electric SE, Siemens AG, Signify NV, and Trane Technologies Plc.
The market is segmented by application (non-residential and residential), product (HVAC retrofit, envelope, and LED retrofit lighting), and geography (Europe, APAC, North America, Middle East and Africa, and South America).
Segmentation by application (non-residential / residential)
Non-residential:
The non-residential segment includes two subsegments, which are commercial and industrial. Our analysis projects that many commercial buildings in the area will employ energy restoration systems due to the need to improve efficiency in rising economies. Other factors driving the growth of this market include government regulations and increased awareness of the need for energy efficiency. Due to an increasing requirement for convenience in facility management, simplifying processes, and effective labor mobility, office buildings generate the most revenue among non-residential structures. As a result, the use of energy retrofit technologies is likely to drive non-residential growth.
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Key Benefits for Industry Players & Stakeholders ?
The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
Customer Landscape - Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio
One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage.
Another key aspect is price sensitivity drivers(purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
Furthermore, market adoption rates for all regions have been covered.
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What are the key data covered in the energy retrofit systems market?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the energy retrofit systems market between 2023 and 2027
Precise estimation of the size of the energy retrofit systems market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the energy retrofit systems market industry across APAC, North America, Europe, Middle East and Africa, and South America
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of energy retrofit systems market vendors
Energy Retrofit Systems Market Scope
Report Coverage
Details
Page number
165
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 5.84%
Market growth 2023-2027
USD 41.94 billion
Market structure
Fragmented
YoY growth 2022-2023 (%)
4.62
Regional analysis
Europe, APAC, North America, Middle East and Africa, and South America
Performing market contribution
Europe at 39%
Key countries
US, China, Germany, France, and UK
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Companies profiled
AECOM, Ameresco Inc., Chevron Corp., Daikin Industries Ltd., Danfoss AS, Dow Inc., ENGIE SA, General Electric Co., Johnson Controls International Plc, Koninklijke Philips NV, National LED Inc., Ocean Insight, Orion Energy Systems Inc., Redaptive Inc., Renew Energy Partners LLC, ROI Energy Solutions Inc., Schneider Electric SE, Siemens AG, Signify NV, and Trane Technologies Plc
Market dynamics
Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Exhibit 182: Validation techniques employed for market sizing
Exhibit 183: Information sources
13.5 List of abbreviations
Exhibit 184: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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