Zero-energy buildings market worth USD 142.81 billion per
New York, Aug 23, 2021 (GLOBE NEWSWIRE) – Zero Energy Buildings Market Snapshot: According to a Comprehensive Research Report from Market Research Future (MRFR), “Zero-energy buildings market Research, Technology, Application, Material & Region Report – Forecast to 2027 ” The market is expected to be worth USD 142.81 billion by 2028, registering a CAGR of 31.67% during the forecast period (2021 – 2028). The market was valued at USD 19.56 billion in 2020.
The major players presented in the Global Zero Energy Buildings Market are –
- Daikin Industries Ltd. (Japan)
- Honeywell International Inc (United States)
- General Electric (United States)
- Johnson Controls International plc (Ireland)
- Schneider Electric (France)
- Siemens (Spain)
- Solatube International Inc. (United States)
- SunPower Corporation (United States)
- Kingspan Group (Ireland)
- Saint-Gobain (France).
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Several factors contributing to the growth of the market
Zero-energy buildings meet all energy needs, including low-cost, locally available, non-polluting renewable energy sources. These are typically high-performance, energy-efficient buildings that use renewable technologies to produce as much energy as they consume from commercial energy sources acquired over the course of a year. Over the projected period, the global zero energy buildings market is expected to increase significantly. The market is likely to be driven by growing concerns about reducing energy consumption, expanding environmental concerns, and the propensity of individuals to embrace green buildings. The growing awareness of the environmental and social impact of buildings among architects and construction companies has resulted in an increase in sustainable construction and construction technologies. Lower operating expenses and energy bills, higher resale values and protection against rising energy prices, all of which lead to higher real estate values, are some of the projected drivers for stimulate the market for zero energy buildings throughout the projection period. In addition, there has been a steady increase in improving sustainability and growth potential in emerging economies. The possibility of expansion offers a variety of benefits for architects, developers and economies, and economies are expected to create an opportunity for global market players.
Zero-energy buildings are efficient, high-performance buildings that use renewable technologies to generate the same amount of energy that the building consumes from purchased commercial energy sources. These buildings have a variety of energy benefits, including being non-polluting, inexpensive, using renewable energy sources and being locally available. These advantages play a major role in the evolution of the global zero energy buildings market. The constant improvement in sustainability and expansion possibilities has brought various benefits to developers and architects, increasing the number of energy efficient building (EEB) projects. These projects aim to locate, eliminate and convert structures in order to achieve energy self-sufficiency. All of these reasons will drive the global zero-energy building industry forward.
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Lack of certified professionals and expertise
Delays in obtaining certifications due to the lack of certified professionals and expertise to enable the assembly of all components used, as well as the skills required to obtain authorizations for the integration and operation of energy buildings zero, are expected to increase in the coming years, potentially affecting the global zero-energy buildings market.
In 2020, Johnson Controls and Lawrence Berkeley National Laboratory (Berkeley Lab) introduced the Building Efficiency Targeting Tool for Energy Retrofits (BETTER). This tool allows building managers and owners to quickly transform the building’s available monthly energy consumption into specific recommendations for improvement.
The global zero energy buildings market has been segmented by equipment and application.
By equipment, the global zero energy buildings market is segmented into HVAC systems, wall and roof lighting, etc. HVAC systems dominate the global market as they are the most important and most energy-consuming parts of the entire building structure, resulting in significant energy savings in high performance buildings.
By application, the global zero energy buildings market has been segmented into residential and non-residential. The non-residential segment accounted for the largest market share due to growing awareness and additional investments to improve energy efficiency and renewable energy sources among owners of non-residential buildings, resulting in substantial energy savings.
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North America leads the world market
During the study period, North America is expected to dominate the zero energy buildings market, followed by Europe. The growth of HVAC equipment systems is expected to accelerate in the region. It has been observed that the region is developing zero energy building solutions with a sustainable approach in response to growing global demand. The United States dominates the North American zero-energy construction market.
Europe will follow North America
Europe holds the second largest share of the zero-energy construction market in 2018. Due to the strict rules established by European governments to increase the adoption of zero-energy construction technologies, the market is expected to grow significantly.
Market segmentation covered by research:
Zero Energy Buildings Market: Insights by Equipment (HVAC System, Lighting, Walls & Roofs & Others), Application (Non-Residential & Residential) & Region (North America, Europe, Asia-Pacific, Rest of World) – Forecast to in 2028
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