Net Zero Energy Buildings (NZEBs) Market: Competitive Landscape & Impact Analysis Of Drivers On Market Forecast

Over 35% of the world's total energy consumption and 40% of its greenhouse gas (GHG) emissions are generated by buildings and the construction sector, as per the World Green Building Council. Since these emissions cause air pollution, there is a growing need to limit them. Another problem with high energy usage is that since most of it is produced from fossil fuels, their reserves are depleting at a high pace, which is leading to the sky-rocketing prices of coal and crude oil. To deal with such issues, the construction of net-zero-energy buildings (NZEB), also termed zero net energy buildings, is being strongly encouraged in nations across the world.

Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/net-zero-energy-buildings-market/report-sample

This is why, from $896.6 million in 2018, the NZEB market is projected to grow to $2,106.6 million by 2024, at a 15.6% CAGR during 2019-2024 (forecast period). Such buildings only use the electricity they generate on site, primarily from renewable sources, such as wind and the sun. Zero net energy (ZNE) buildings are either certified as ZNE-verified or ZNE-emerging. Both these types of infrastructure are constructed for residential as well as commercial purposes. Of these, more such buildings were built for commercial purposes during 2014-2018, as these boast a larger floor space, which raises their value.

An NZEB uses solar photovoltaic (PV) Panels, insulation panels, and efficient lighting and heating, cooling, and air conditioning (HVAC) Systems to be energy-efficient. Historically, the largest demand was generated for solar PV panels, as most such buildings use the sun to create electricity, which is consumed in high amounts every day. During the forecast period, the usage of all components, including solar PV panels, will continue increasing, due to the rise in the construction of such infrastructure.

Make Enquiry Before Purchase @ https://www.psmarketresearch.com/send-enquiry?enquiry-url=net-zero-energy-buildings-market

Across the world, governments are under pressure to control global warming. The Intergovernmental Panel on Climate Change has claimed that in order to reduce the average worldwide temperature increase by 1.5 °C, countries must achieve net-zero GHG emissions by 2050. Similarly, in 2019, the government of Vancouver, Canada, mandated a 40% reduction in the embodied carbon in new buildings, by 2030. Considering that electricity generation accounts for a large portion of these emissions, governments are actively working to reduce the wastage of energy as well as create it from renewable sources.

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

This release was published on openPR.