Net Zero Energy Buildings Market Emerging Trends, Competitive Strategies and Business Opportunities

Net zero energy buildings (NZEBs) refer to highly efficient buildings having extremely low energy requirements, that is met by non-conventional energy sources. These structures produce as much energy as they consume annually. To attain their net zero energy goals, buildings must reduce their energy demands by using energy-efficient technologies and utilize non-conventional energy sources to meet the remaining demand. Owing to these properties of NZEBs, governments across the world are taking numerous initiatives to reduce the usage of fossil fuels in residential and commercial buildings.

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Moreover, the surging focus on reducing greenhouse gas (GHG) emissions during electricity production is expected to drive the net zero energy buildings market at a CAGR of 15.6% during the forecast period (2019–2024). According to P&S Intelligence, the market revenue is projected to increase from $896.6 million in 2018 to $2,106.6 million by 2024. According to the World Green Building Council, the construction industry accounts for over 35% of global energy consumption and around 40% of the energy-based carbon dioxide emissions.

To amplify the construction of NZEBs, federal, state, and local governments are implementing several plans and policies aimed at reducing the pollution and energy consumption of the construction sector. For example, California Public Utilities Commission (CPUC) laid down the California Long-Term Energy Efficiency Strategy Plan to ensure that all new residential buildings and commercial buildings are NZEBs by 2020 and 2030, respectively. According to this plan, new builders are mandated to construct NZEBs in California.

The equipment segment of the net zero energy buildings market is categorized into lighting systems, insulation panels, solar photovoltaic (PV) panels, and heating, ventilation, and air conditioning (HVAC) systems, and others. In 2018, the solar PV panels category held the largest market share, due to the soaring demand for solar PV panels from the commercial facilities, owing to the increasing requirement for a considerable amount of energy to provide electricity to all the appliances in such buildings. Further, the surging NZEB development plans and the rising importance of solar units in these buildings are also supporting the category growth.

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The aforementioned NZEB devices are offered by Daikin Industries Ltd., Rockwool Group, Kingspan Group plc, Xtratherm Limited, and Solatube International Inc. These systems are deployed in the construction of residential and commercial buildings. As commercial construction includes more floor spaces, they require more equipment than residential buildings. Additionally, the governments of various countries are introducing several policies to amplify the construction of NZEBs, due to the growing focus on reducing energy generation through fossil fuels.

Globally, North America accounted for the largest share in the net zero energy buildings market in 2018 and it is projected to exhibit the fastest growth throughout the forecast period. The mounting concerns regarding GHG emission, owing to the increased burning of fossil fuels for electricity generation, will boost the construction of NZEBs, as these buildings can reduce pollution during the construction phase and ensure carbon neutrality. Moreover, the energy consumption targets set by the governments of Canada and the U.S. to attain sustainable energy demand will also support the market growth in the region.

Thus, the accelerating need to meet the high energy demand and curtail GHG emission from the construction sector will augment the construction of NZEBs in the foreseeable future.

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This release was published on openPR.