Net Zero Energy Buildings Market - Regional Analysis
North America Market Analysis
North America net zero energy buildings market is expected to dominate majority revenue share of 46% by 2035, owing to the increasing government initiatives for environment conservation, along with high public awareness regarding carbon emission. Furthermore, the increasing preference to become energy-independent due to growing energy costs has led to a fast adoption of solar energy combined with energy storage devices in the region.
The net zero energy buildings market in the U.S. is rapidly expanding due to stringent energy codes and government regulations, rising energy costs and advancements in building technologies. The American Society of Heating, Refrigerating, and Air-Conditioning Engineers (ASHRAE), published a report in 2023 mentioning the standard operations for zero net energy and zero net carbon standards for buildings operations. This has created an awareness among companies and building owners, encouraging them to switch to zero energy buildings. Moreover, presence of major market players in the country and the adoption of advanced technologies such as super insulate and seal, energy-efficient appliances, and using green construction technology are projected to fuel the regional market growth.
APAC Market Analysis
The Asia Pacific net zero energy buildings market is expected to register rapid growth during the forecast period owing to rising environmental awareness, supportive government policies, and high adoption of sustainable construction technologies. Countries such as China, Japan and Australia have introduced mandatory energy efficiency standards and are leading the green building infrastructure development and plans. For instance, according to U.S. Green Building Council (USGBC), in 2023, China ranked first on its op 10 Countries and Regions for LEED Green Building in 2023. The ranking highlights countries and regions outside the U.S. which are making significant efforts to developing healthy and sustainable buildings.
Rapid urbanization and infrastructure developments in India and expansion of renewable energy is expected to support net zero energy buildings market growth in the country. Moreover, India is planning to accomplish net zero by 2070 and for this, the Union Minister of Environment, Forest and Climate Change declared in February 2023, that the country is focused on cutting down carbon emissions by 45% by 2030. This can only be achieved by focusing on the development of net zero energy buildings infrastructure.
