Energy-Efficient Building Market Growth, Size, Overview and Forecast

Technavio Announces the Publication of its Research Report – Global Energy-Efficient Building Market 2016-2020

Technavio recognizes the following companies as the key players in the global energy-efficient building market: Honeywell, Johnson Controls, Schneider Electric, and Siemens.

Other Prominent Vendors in the market are: ABB, Building IQ, EnerNOC, GridPoint, and Pacific Controls.

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Commenting on the report, an analyst from Technavio’s team said: “Rising energy prices will be a key trend for market growth. Constant depletion of energy from natural resources without replenishment and a simultaneous increase in energy demand from various residential and commercial operations have resulted in a marked increase in energy cost over the years. For example, in the US, average electricity price for retail and residential sectors notched up a 2.3% annual growth rate from 2008-2015. This has led to the growing demand for energy-efficient buildings worldwide. The focus has shifted from energy generation to energy conservation. The aim of designing these buildings is to improve the operational efficiency and slash overall energy costs. Moreover, they are also designed to help in the conservation of fossil fuels, thereby reducing the overall impact on the environment.”

According to the report, one of the key drivers will be the need to enhance energy efficiency in existing buildings. The purpose of having green buildings is to ensure a sustainable energy resource for efficient operations. These energy-efficient buildings utilize renewable and recyclable energy and also focus on conserving the energy wherever possible. The gap between green and non-green buildings can be filled up by improving the efficiencies of the existing non-green buildings by a process called retrofitting. It essentially involves insulating the buildings and...