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Energy Efficient Buildings Market Size, Share, and Analysis, By Component (Lighting Technology, Ventilation Systems, Energy Management Systems, Controls, Water Efficiency), By Building Type (Commercial, Industrial, Residential), By Material (Construction chemicals, Roofing, Concrete Tiles, Water Proofers, Fibre Cement, Insulation, Sealants, Others) and Regional Forecasts, 2022-2032
Energy Efficient Buildings Market size was USD 116.9 billion in 2021 and projected to grow from USD 131.2 billion in 2023 to USD 222.8 billion by 2032, exhibiting a CAGR of 6% during the forecast period.
Energy-efficient buildings are described as the buildings created to minimize requirements of heating and cooling energy irrespective of what equipment and energy are chosen for heating or cooling. Energy efficiency of a building is measured by the rate at which energy is lost by the building physical structure and the rate where energy is used to reach requirements of energy. Energy-Efficient Buildings provide the greatest possibility for attaining proper emission minimisation at low cost in various countries.
Energy Efficient Buildings Market is expected to reach USD 222.8 billion, growing at a CAGR of 6% during forecast period owing to the high demand for green buildings, adoption of sustainable intelligent buildings solutions and increasing popularity of proper buildings energy management which is anticipated to drive the demand for energy-efficient buildings market. Increasing support from government bodies to focus on energy efficiency and the initiatives taken by infrastructure development committees is anticipated to boost the energy-efficient buildings market growth. Various environmental issues, energy cost savings, advancements in technology and government incentives and rules may boost the growth of Energy Efficient Buildings market during the forecast period.
Energy Efficient Buildings Market is classified based on the Component into Lighting Technology, Ventilation Systems, Energy Management Systems, Controls, Water Efficiency. Energy Management Systems dominated the market in 2021 and is expected to continue its dominance over the forecast period. The growth of the segment is attributed to the generation of real-time data, automated control strategies and analytics to improve energy consumption, minimising wastage and recognising ways to save energy.
Energy Efficient Buildings Market is classified based on the Building Type into Commercial, Industrial, Residential. Commercial segment dominated the market in 2021 and is expected to continue its dominance over the forecast period owing to the provision of cost saving option for owners of commercial buildings. Energy Efficient Buildings aid in minimising the consumption of energy in various commercial spaces globally. The features like intelligent, sustainable, and low ecological footprint are provided by these energy efficiency buildings.
Rising Concerns on Environment is Expected to Boost the Growth of the Market
Energy-efficient buildings are created to reduce the consumption of energy by minimising the utilization of resources during their lifecycle by implementing different policies and technologies to reduce demand of energy for cooling, heating, lighting, and other building operations. Increasing concerns on environment and growing demand for sustainable solutions may drive market growth. Several rules and regulations set by the governments, international organizations and regulatory agencies, boost the energy efficiency due to low energy consumption in buildings.
Several Advancements in Technology is Expected to Boost the Growth of the Market
The adoption of different energy-efficient solutions by the governments like providing tax rebates, incentives, and grants for upgrading the energy-efficiency is expected to further spur the market growth. Various advancements in technology have played an important role in aiding the energy-efficient buildings market. Inventions in construction techniques, building materials, smart building systems and energy-efficient appliances resulted in easy and cost-effective construction, to designing and retrofit energy-efficient buildings. These technological improvements have extended the options available and boosted the market growth.
High Implementation Cost May Restrain the Growth of the Market
The construction cost involved for energy-efficient buildings is high which involves major implementation processes which may hamper market growth. Energy-efficient buildings results in several environmental issues by producing carbon emissions having impact on human health which is anticipated to restrain the market growth.
Energy Efficient Buildings Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America dominate the Energy Efficient Buildings market in 2021 as the countries in the region had executed several building energy codes to boost the acceptance of energy-efficient methods and technologies. Asia-Pacific is anticipated to grow fastest during forecast period due to the increasing population resulting in rising construction projects involving energy-efficient design and technologies along with the urbanization which is anticipated to drive market growth.
The COVID-19 outbreak had resulted in the economic downfall. Several countries had imposed travel restrictions and lockdown measures to control the spread of virus. Various construction projects were delayed due to disruptions in raw material procurement and lack of man power. The accessibility to building materials and components for energy-efficient buildings like insulation, energy-efficient windows, and HVAC systems, was disrupted. Covid-19 had a negative impact on the growth of the Energy Efficient Buildings Market.
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2032 |
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Base Year |
2022 |
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Forecast Period |
2022-2032 |
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Historical Period |
2019-2021 |
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Growth Rate |
CAGR of 6% from 2022-2032 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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Component |
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Building Type |
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Material |
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By Region |
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Energy Efficient Buildings Market size was estimated at USD 116.9 billion in 2021 and is expected to reach USD 222.8 billion in 2032.
Energy Management Systems and Commercial segment accounted for the highest growth rate in the Energy Efficient Buildings market.
Leading players: Siemens, Johnson controls, Honey well, Gridpoint, Ameresco Inc, Schneider, KMC Controls Inc., Cleantech Group, Knauf Insulation, Enel X, ABB, Energy Panel Structures and Other Prominent Players are the leading players in the Energy Efficient Buildings Market.
Rising concerns on environment and Several advancements in technology are the factors driving the Energy Efficient Buildings market.
High cost of implementing energy efficient buildings is a challenge associated with the Energy Efficient Buildings Market.
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