Press release
Industrial Energy Efficiency Market Prospects for Long-Term Value & Growth 2024 - 2031 | Siemens, General Electric, ABB, Johnson Controls
Industrial Energy Efficiency Market
The industrial energy efficiency market size is expected to reach US$ 41.2 Bn by 2030, from US$ 23.13 Bn in 2023, growing at a CAGR of 8.6% during the forecast period.
Market Dynamics:
Rising energy costs across industries and stringent regulations regarding energy usage are expected to drive the industrial energy efficiency market growth over the forecast period. According to the report, industrial energy prices have risen over 30% in the past 5 years across major markets. This has prompted companies to invest in efficiency upgrading existing industrial equipment and processes. Additionally, various governments have implemented energy efficiency standards and policies through legislation and incentive programs to reduce the environmental impact of industries. For example, the European Union's energy efficiency directive obligates members to achieve energy savings of at least 32.5% by 2030.
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Industrial Energy Efficiency Market Drivers
Increasing Focus on Reducing Carbon Footprint and Operating Costs
With rising concerns about climate change and environmental protection, industries are under pressure to reduce their carbon emissions and operate in a more sustainable manner. Implementing energy efficiency solutions allows companies to lower their energy consumption and dependency on fossil fuels. This significantly cuts down operational costs associated with utility bills in the long run. Many governments are also offering tax benefits and subsidies to organizations investing in green technologies and energy audits. These policy measures are encouraging widespread adoption of energy efficiency upgrades across manufacturing facilities and plants.
Industrial Energy Efficiency Market Opportunity
Growth of Financial Innovation towards Energy Efficiency
The growth of innovative financing models like energy performance contracting (ESCOs), on-bill financing and property assessed clean energy (PACE) programs provide renewed impetus. These mechanisms help transfer the responsibilities of performance and repayment to energy service companies. Industries can undertake large scale retrofits without having to bear high upfront costs, instead paying back through future energy savings. The de-risking of investments and longer payback periods using such customized finance structures unleash huge untapped potential for efficiency upgrades. This presents significant growth prospects for ESCOs, energy auditors, technology providers and other stakeholders in the value chain.
Industrial Energy Efficiency Market Trends
Rising Adoption of Real-time Monitoring and IoT-enabled Solutions
Today's energy managers demand solutions that go beyond one-time audits to offer round-the-clock visibility and control over operations. Technologies like connected devices, wireless sensors, analytics software and cloud platforms allow industries to conduct continuous remote monitoring of performance indicators in real-time. They help detect anomalies, enforce adherence to setpoints and ensure optimum utilization of assets. Such IoT-enabled offerings also facilitate data-driven decision making, predictive maintenance and development of energy management strategies. This emerging tech realm will continue revolutionizing industrial energy management practices globally.
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Top Companies Included in This Report:
★ Siemens
★ General Electric
★ ABB
★ Johnson Controls
★ Schneider Electric
★ Honeywell
★ Eaton Corporation
★ Rockwell Automation
★ Emerson Electric
★ Mitsubishi Electric
★ Yokogawa Electric
★ Veolia Environnement
★ SGS
★ Enel X
★ Wärtsilä
★ Danfoss
★ Hitachi
★ Legrand
★ Ingersoll Rand
★ Schneider Electric
Market Segmentation:
By Product Type:
★ By Offering: Equipment (Pumps, Motors, Fans, Compressors, Heating, Ventilation, Air Conditioning, Refrigeration, Others), Systems (Distributed Control Systems, Supervisory Control and Data Acquisition Systems, Energy Management Systems, Utility Control Systems, Building Automation Systems, Others), Services, System Optimization & Maintenance, Consulting & Training, Others), Software & Solutions
★ By End-use Industry: Oil & Gas (Upstream, Midstream, Downstream), Power (Power Generation, Power Transmission & Distribution), Mining, Pulp & Paper, Food & Beverage, Petrochemical & Chemicals, Others
Key Regions/Countries are Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
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The report offers insights on the following topics:
Chapter 1: Study Coverage
Chapter 2: Executive Summary
Chapter 3: Competitor Landscape of the Industrial Energy Efficiency Market by Players
Chapter 4: Market Size of the Industrial Energy Efficiency Market by Type and Application
Chapter 5: Global and Regional Analysis
Chapter 6: Company Profiles, Recent Developments, and Investments
Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors
Chapter 8: Analysis of Value Chain and Sales Channels, including notable product developments
Chapter 9: Research Findings and Conclusion
Chapter 10: Methodology/Research Approach
Ultimately, the Industrial Energy Efficiency Market report serves as a reliable source for acquiring market research to significantly enhance your business. It furnishes essential insights into regional economic conditions, product pricing, profitability, capacity, production, supply, demand, market growth rate, and forecasts. Additionally, the report includes a SWOT analysis, investment feasibility analysis, and return on investment analysis for new projects within the Industrial Energy Efficiency industry.
Should the aforementioned report not meet your precise requirements, we offer customized research tailored to comprehensively address your specific business needs. Our customized research will encompass all the pertinent business information necessary to assist you in making strategic and profitable business decisions.
Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-
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Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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