Energy-Efficient Building Market: Rising Demands, Explosive Growth Factors, and Industry Expansion Strategies 2022-2030

Energy-Efficient Building Market Overview:

The Energy-Efficient Building Market is expected to reach USD 204.7 Billion at a CAGR of 5.93% during the forecast period 2030. The increased focus on energy efficiency by governments around the world has resulted in a strong demand for energy-efficient buildings. The popularity of energy-efficient buildings is expanding at a rapid rate, thanks to an increase in the number of initiatives launched by infrastructure and development organizations in recent years. As a result, manufacturers and developers are compelled to focus more on green building initiatives. The global market for energy-efficient buildings is expected to rise steadily due to a variety of factors, including an increase in the number of green buildings, a greater requirement for proper building energy management, and the adoption of smart building and sustainable solutions. Governments all around the world are now emphasizing energy efficiency and resource conservation, which is fueling the market's growth.

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Green building rules, policies, and programs are adapted and updated regularly to encourage the adoption of energy-efficient buildings and the transformation of existing and newly constructed structures. Increased environmental concerns, stricter building code restrictions, and a growing desire to save natural energy are just a few of the factors presenting the profitable potential for vendors in the worldwide energy-efficient building market.

Market Segmentation

Based on the building type, the global energy-efficient buildings market has been segmented into residential, commercial, and industrial.

Based on the component, the global Energy-Efficient buildings market has been segmented into ventilation systems, lighting technologies, energy management systems, and controls.

Based on the region, the global Energy-Efficient buildings market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

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Regional Classification

Geographically, the global energy-efficient building industry has been segmented into five key regions - North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.

In 2018, Europe and North America held significant shares of the global market, owing to the high regulation pertaining to energy efficiency aiming sustainable development. Sustainable development in these two regions in terms of energy conservation is taken on top priority, which is propelling the demand for energy-efficient buildings. Moreover, the renovation of these buildings and integration of energy-efficient solutions by using technology can bode well for the market. This is exemplified by the shift from wood heating systems to electric stoves. Moreover, the exports of energy-efficiency products from Ireland are evidence of the large potential of the market.

However, the market in APAC is expected to register the highest growth rate in the energy-efficient buildings market during the forecast period. This can be attributed to the high requirement for energy efficiency in developing countries of China, India, and ASEAN countries. Certification of buildings, energy auditing, and energy performance requirements are factors likely to be lucrative for the global energy-efficient building market. But lack of government support and low awareness of green buildings can impede the market growth.

Furthermore, high-scale construction activity in the MEA is also expected to support and contribute significantly to the growth of the regional energy-efficient building market. The growth can also be attributed to the rising energy requirement. Moreover, the tax credits and green bonds offered to companies for encouraging sustainable building construction can bolster the market growth effectively.

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Industry News

The major key players in the market are Cleantech Group, Johnson Controls, Ameresco Inc., Serious Energy Inc., Architectural Energy Corporation, Knauf Insulation, and KMC Controls Inc. The increased energy demand has also contributed to the market's expansion and has helped the key players to emerge out and helped the growth of the market. Furthermore, the growing number of construction projects is likely to increase demand for energy efficiency.

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