Product Code: GVR-4-68038-739-1
Energy Retrofit Systems Market Growth & Trends:
The global energy retrofit systems market size was estimated at USD 323.94 Billion in 2030 and is expected to expand at a CAGR of 7.4% from 2024 to 2030. Increasing demand for renewable energy is expected to drive the market over the forecast period. The growing concerns about Greenhouse Gas (GHG) emissions and strict regulations to decrease carbon footprint are also projected to be the key factors driving the global market.
The economic crisis following the COVID-19 pandemic has led to a significant decline in investments for new energy-efficient buildings and equipment. In commercial and residential buildings, the energy-efficient systems, such as LED retrofit lighting, HVAC retrofit, insulation & glazing retrofit of windows, and retrofit of roofing, are primarily used to have a distributed generation of electricity to reduce the operational costs.
The COVID-19-imposed lockdown, which compelled most industries around the world to halt their production, resulted in reduced investments in overall energy efficiency systems by 9% in 2020. During the pandemic, people across major economies reduced visits to workplaces by over 60% as of April 2020, which led to a decrease in the consumption of electricity in commercial buildings. For instance, as per IEA, in the U.S., the average residential electricity consumption increased by 30% in April 2020, followed by a decline in the use of electricity in commercial buildings.
The growing installation of energy systems, along with the widespread accessibility of smart devices, has formed room for new business models to arise in the electricity sector due to a rise in demand for energy across the world. The energy-related needs of consumers in the residential, commercial, and industrial sectors are increasing day by day. In the case of residential consumers, the availability of smart home devices has enabled continuous monitoring of power consumption. These factors are anticipated to drive the market during the forecast period.
Energy Retrofit Systems Market Report Highlights:
- The envelope product segment accounted for the maximum revenue share of more than 51.54% of the global market in 2022 and will expand further at a steady CAGR over the forecast period
- The non-residential application segment dominated the global market in 2022 accounting for the maximum revenue share
- Europe was the dominant regional market in 2022, in terms of revenue share due to the increased population and high demand for efficient & clean energy
- Moreover, the European region has been very active in using R&D for clean and efficient energy generation
- The availability of funding in the European Union for energy conservation and energy efficiency projects has also been one of the major factors driving the regional market growth
- Various strategic initiatives by key companies were recorded over the past few years. For instance, in May 2021, Johnson Controls announced that it selected an environmentally sustainable R-454B as the future refrigerant for HVAC equipment and air-cooled scroll chillers
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market Segmentation & Scope
- 1.2 Information Procurement
- 1.2.1 Purchased Database
- 1.2.2 GVR's Internal Database
- 1.2.3 Secondary Source
- 1.2.4 Third Party Perspective
- 1.2.5 Primary Research
- 1.3 Information Analysis
- 1.3.1 Data Analysis Models
- 1.4 Market Formulation and Data Visualization
- 1.5 Data Validation and Publishing
Chapter 2 Executive Summary
- 2.1 Market Snapshot
- 2.2 Segment Snapshot
- 2.3 Segment Snapshot
- 2.4 Competitive Landscape Snapshot
Chapter 3 Energy Retrofit Systems Market: Market Variables, Trends, & Scope
- 3.1 Market Lineage Outlook
- 3.1.1 Penetration & Growth Prospect Mapping
- 3.2 Industry Value Chain Analysis
- 3.2.1 Profit Margin Analysis of Key value chain participants
- 3.2.2 Raw material trends
- 3.3 Technology Overview
- 3.4 Regulatory Framework
- 3.4.1 Policies And Incentive Plan
- 3.4.2 Standards & Compliances
- 3.4.3 Regulatory Impact Analysis
- 3.5 Market Dynamics
- 3.5.1 Market Driver Impact Analysis
- 3.5.2 Market Restraint Impact Analysis
- 3.5.3 Market Challenge Impact Analysis
- 3.6 Market Business Environment Analysis
- 3.6.1 Industry Analysis - Porter's
- 3.6.2 PESTEL Analysis
- 3.7 Impact of Circular Economy
- 3.8 Supplier Market Intelligence
- 3.9 Kraljic Matrix (Portfolio Analysis)
- 3.9.1 Non-Critical Items
- 3.9.2 Leverage Items
- 3.9.3 Bottleneck Items
- 3.9.4 Strategic Items
- 3.10 Engagement Model
- 3.11 List of Suppliers
Chapter 4 Energy Retrofit Systems Market: Product Estimates & Trend Analysis
- 4.1 Key Takeaways
- 4.2 Product Movement Analysis & Market Share, 2023 & 2030
- 4.3 Energy Retrofit Systems Market Estimates & Forecasts, By Product (USD Billion)
- 4.3.1 Envelope
- 4.3.1.1 Envelope Proton Exchange Membrane Fuel Cell Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 4.3.2 LED Retrofit Lighting
- 4.3.2.1 LED Retrofit Lighting Proton Exchange Membrane Fuel Cell Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 4.3.3 HVAC Retrofit
- 4.3.3.1 HVAC Retrofit Proton Exchange Membrane Fuel Cell Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 4.3.4 Appliances
- 4.3.4.1 Appliances Proton Exchange Membrane Fuel Cell Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
Chapter 5 Energy Retrofit Systems Market: Application Estimates & Trend Analysis
- 5.1 Key Takeaways
- 5.2 Application Movement Analysis & Market Share, 2023 & 2030
- 5.3 Energy Retrofit Systems Market Estimates & Forecasts, by Application (USD Billion)
- 5.3.1 Residential
- 5.3.1.1 Energy Retrofit Systems Market Estimates & Forecasts, by Residential, 2018 - 2030 (USD Billion)
- 5.3.1.2 Single-Family
- 5.3.1.2.1 Energy Retrofit Systems Market Estimates & Forecasts, in Single-Family, 2018 - 2030 (USD Billion)
- 5.3.1.3 Apartments / Condominiums
- 5.3.1.3.1 Energy Retrofit Systems Market Estimates & Forecasts, in Apartments / Condominiums, 2018 - 2030 (USD Billion)
- 5.3.2 Commercial
- 5.3.2.1 Energy Retrofit Systems Market Estimates & Forecasts, by Commercial, 2018 - 2030 (USD Billion)
- 5.3.2.2 Food sales & service
- 5.3.2.2.1 Energy Retrofit Systems Market Estimates & Forecasts, in Food sales & service, 2018 - 2030 (USD Billion)
- 5.3.2.3 Mercantile
- 5.3.2.3.1 Energy Retrofit Systems Market Estimates & Forecasts, in Mercantile, 2018 - 2030 (USD Billion)
- 5.3.2.4 Office Buildings
- 5.3.2.4.1 Energy Retrofit Systems Market Estimates & Forecasts, in Office Buildings, 2018 - 2030 (USD Billion)
- 5.3.2.5 Warehouse
- 5.3.2.5.1 Energy Retrofit Systems Market Estimates & Forecasts, in Warehouse, 2018 - 2030 (USD Billion)
- 5.3.2.6 Others
- 5.3.2.6.1 Energy Retrofit Systems Market Estimates & Forecasts, in Others, 2018 - 2030 (USD Billion)
- 5.3.3 Institutional
- 5.3.3.1 Energy Retrofit Systems Market Estimates & Forecasts, by Institutional, 2018 - 2030 (USD Billion)
- 5.3.3.2 Education
- 5.3.3.2.1 Energy Retrofit Systems Market Estimates & Forecasts, in Education, 2018 - 2030 (USD Billion)
- 5.3.3.3 Healthcare
- 5.3.3.3.1 Energy Retrofit Systems Market Estimates & Forecasts, in Healthcare, 2018 - 2030 (USD Billion)
- 5.3.3.4 Worship Buildings
- 5.3.3.4.1 Energy Retrofit Systems Market Estimates & Forecasts, in Worship Buildings, 2018 - 2030 (USD Billion)
Chapter 6 Energy Retrofit Systems Market: Regional Estimates & Trend Analysis
- 6.1 Energy Retrofit Systems Market: Regional Outlook
- 6.2 North America
- 6.2.1 North America Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.2.3 U.S.
- 6.2.3.1 U.S. Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.2.3.2 California
- 6.2.3.2.1 California Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.2.3.3 Ohio
- 6.2.3.3.1 Ohio Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.2.3.4 Texas
- 6.2.3.4.1 Texas Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.2.3.5 Vermont
- 6.2.3.5.1 Vermont Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.2.3.6 Massachusetts
- 6.2.3.6.1 Massachusetts Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.2.3.7 Michigan
- 6.2.3.7.1 Michigan Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.2.3.8 Illinois
- 6.2.3.8.1 Illinois Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.2.3.9 New York
- 6.2.3.9.1 New York Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.2.3.10 Washington
- 6.2.3.10.1 Washington Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.2.3.11 Pennsylvania
- 6.2.3.11.1 Pennsylvania Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.2.3.12 Oregon
- 6.2.3.12.1 Oregon Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.2.4 Canada
- 6.2.4.1 Canada Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.2.5 Mexico
- 6.2.5.1 Mexico Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.3 Europe
- 6.3.1 Europe Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.3.3 Germany
- 6.3.3.1 Germany Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.3.4 UK
- 6.3.4.1 UK Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.3.5 Italy
- 6.3.5.1 Italy Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.3.6 Spain
- 6.3.6.1 Spain Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.3.7 France
- 6.3.7.1 France Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.3.9 Russia
- 6.3.9.1 Russia Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4 Asia Pacific
- 6.4.1 Asia Pacific Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.3 China
- 6.4.3.1 China Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.4 Japan
- 6.4.4.1 Japan Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.5 India
- 6.4.5.1 India Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.7 South Korea
- 6.4.7.1 South Korea Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.8 Australia
- 6.4.8.1 Australia Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.5 Central & South America
- 6.5.1 Central & South America Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.5.3 Brazil
- 6.5.3.1 Brazil Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.5.4 Colombia
- 6.5.4.1 Colombia Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.5.5 Paraguay
- 6.5.5.1 Paraguay Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.6 Middle East & Africa
- 6.6.1 Middle East & Africa Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.6.3 Saudi Arabia
- 6.6.3.1 Saudi Arabia Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.6.4 South Africa
- 6.6.4.1 South Africa Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.6.5 Egypt
- 6.6.5.1 Egypt Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.6.6 UAE
- 6.6.6.1 UAE Energy Retrofit Systems Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
Chapter 7 Energy Retrofit Systems Market: Competitive Landscape
- 7.1 Recent Developments & Impact Analysis, by Key Market Participants
- 7.2 Vendor Landscape
- 7.2.1 Company Categorization
- 7.2.2 List of Potential Customers/End users
- 7.3 Company Market Positioning
- 7.4 Company Benchmarking
- 7.5 Company Heat Map Analysis
- 7.6 Participant Overview
- 7.7 Financial Overview
- 7.8 Product Benchmarking
- 7.9 SWOT Analysis:
- 7.9.1 DAIKIN INDUSTRIES, Ltd.
- 7.9.2 Ameresco
- 7.9.3 Eaton
- 7.9.4 AECOM
- 7.9.5 Johnson Controls
- 7.9.6 Orion Energy Systems, Inc.
- 7.9.7 Siemens
- 7.9.8 Trane
- 7.9.9 Signify Holding
- 7.9.10 Engie
- 7.9.11 General Electric
- 7.9.12 Schneider Electric
- 7.10 Company Market Share Analysis, 2023
- 7.11 Strategy Mapping
- 7.11.1 Accomplishments
- 7.11.2 Mergers & acquisition
- 7.11.3 Collaborations
- 7.11.4 New product launches
- 7.11.5 Research & Development
Chapter 8 Energy Retrofit Systems Market: Analyst Point of View
- 8.1 Product-Market-Fit
- 8.2 Target Customers
- 8.3 Key Purchase Criteria of Target Customers
- 8.3.1 Performance
- 8.3.2 Cost
- 8.3.3 Infrastructure
- 8.3.4 Safety
- 8.3.5 Brand Reputation
Chapter 9 Company Listing / Profiles
- 9.1. DAIKIN INDUSTRIES, Ltd.
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.2. Ameresco
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.3. Eaton
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.4. AECOM
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.5. Johnson Controls
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.6. Orion Energy Systems, Inc.
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.7. Siemens
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.8. Trane
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.9. Signify Holding
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.10. Engie
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.11. General Electric
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.12. Schneider Electric
- 9.12.1. Company Overview
- 9.12.2. Financial Performance
- 9.12.3. Product Benchmarking