Energy Retrofit Systems Market Analysis

Product (Envelope, LED Retrofit Lighting, HVAC Retrofit, Appliances)

Energy retrofit systems market from the envelope segment is expected to hold the largest share of 42% during the forecast period. Retrofitting the building envelope promotes thermal comfort and minimizes drafts through the addition of insulation and an air barrier to the walls. Less heat is lost as a result, which reduces energy consumption and lowers carbon footprints for both owners and tenants. Additionally, research found that envelope retrofitting has the ability to help the benchmark home's energy use drop by about 30%. Therefore, displaying a dedication to environmental sustainability, will also positively affect public impression.

Application (Residential, Commercial, Institutional)

The commercial segment is expected to hold 52% share of the global energy retrofit systems market by 2037. The market is growing due to a growing demand for easy facility management, process efficiency, and effective labor mobility, office buildings generate the most revenue among non-residential buildings. In 2020, the market for commercial real estate was projected to be close to USD 33 trillion dollars, with over USD 10 trillion anticipated for each of the areas of EMEA, Asia Pacific, and North America. Businesses can incorporate flexibility in process operations and interact with their staff and other operational branches by implementing energy retrofit systems in office buildings. The non-residential market is therefore anticipated to grow at a faster rate than the focused market throughout the projected period as a result of the use of energy retrofit technologies.

Our in-depth analysis of the global market includes the following segments: