Increasing Demand for Energy Efficient Devices Market Forecast to 2028

According to the predictions made in the latest report by Quince Market Insights, increasing demand from commercial and industrial users for various applications is expected to drive the market growth of energy efficient devices market during the forecast period. Electricity is one of the major forms of energy used across all segments, whether in residential, commercial or industrial environments. Electricity consumption is scaling down as a result of urbanization. There is an urgent need for efficient use of energy devices, due to increased energy consumption.

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Segment Analysis for better understanding of this market
Based on type, the energy efficient devices market has been segmented into HVAC devices, smart lighting, smart electric meters, and consumer appliances & electronics. Among these, the consumer appliances & electronics segment is leading due to the growing population and rising disposable income of consumers, which is creating a demand for these products.

Based on the application, the market has been segmented into residential, commercial, and industrial.

According to the International Energy Agency (IEA), the residential sector is expected to consume maximum energy in comparison with other sectors. Thus, there has been an increase in the use of energy efficient devices in smart buildings to reduce the consumption of electricity and for a sustainable future.

The adoption of IoT in smart devices is expected to control the distribution and transmission of power for its efficient utilization.

Significant Factors Impacting Market Growth:
o Awareness about the adverse effects of high energy consumption on the environment
o Increasing demand to reduce conventional energy consumption
o Rapid urbanization and industrial development

Insights about the regional distribution of the market:
The regional outlook for energy efficient devices market provides detailed information for markets including North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World. North America and Western Europe are estimated to be key regions for energy efficient devices market during the forecast period. Being one of the industrialized regions, the energy & power sector is important for the operations of various industries in this region. This is one of the important factors governing the growth of energy efficient devices market in these regions. Some of the major countries covered in this region include the US, Germany, UK, France, Italy, Canada, and so on.

The Asia Pacific is estimated as one of the fastest-growing regions for energy efficient devices market during the forecast period. Some of the fastest-growing economies and increasing demand for energy & power to cater to high population & industries are expected to drive the demand in this region. China and India are projected to register major demand during the forecast period. Middle East that includes UAE, Saudi Arabia, Iran, Qatar, and others promises high market potential during the forecast period. The rest of the World including South America and Africa are emerging regions in terms of market demand during the forecast period.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Honeywell
2. Crompton Greaves
3. GE Electric
4. Carrier
5. Daikin
6. Legrand
7. LG
8. Mitsubishi
9. Cree Inc.
10. Koninklijke Philips N.V.
11. Samsung Electronics
12. Osram Group
13. Elster Group
14. Acuity Brands
15. Aclara
16. Zumtobel Group
17. Schneider Electric
18. Itron
19. Toshiba
20. and Trane

Market Segmentation:
By Type:
o Heating, Ventilation and Air Conditioning (HVAC) Devices
o Smart Lighting
o Smart Electric Meters
o Consumer Appliances & Electronics
By Application:
o Residential
o Commercial
o Industrial
By Region:
o North America
o By Country (US, Canada, Mexico)
o By Type
o By Application
o Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Type
o By Application
o Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Type
o By Application
o Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Type
o By Application
o Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Type
o By Application
o Rest of the World
o By Region (South America, Africa)
o By Type
o By Application

Reasons to Buy This Report:
o Market size estimation of the global energy efficient devices market on a regional and global basis.
o The unique research design for market size estimation and forecast.
o Profiling of major companies operating in the market with key developments.
o Broad scope to cover all the possible segments helping every stakeholder in the market.

Contact:

Quince Market Insights
Ajay D. (Knowledge Partner)
Office No- A109
Pune, Maharashtra 411028
Phone: +91 - 9850603687 / 7972869557
Email: sales@quincemarketinsights.com
Web: www.quincemarketinsights.com

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This release was published on openPR.