Energy-Efficient Building Market Witnesses Robust Growth, With 6.98% CAGR Through 2028

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Feb. 12, 2024 (GLOBE NEWSWIRE) -- The "Energy-Efficient Building Market - Global Industry Size, Share, Trends Opportunity, and Forecast, 2028F" report has been added to ResearchAndMarkets's offering.

The latest market research report on the Global Energy-Efficient Building Market highlights the industry's rapid expansion, with anticipated projections showcasing a Compound Annual Growth Rate (CAGR) of 6.98% through the year 2028.

With a solid market valuation established at USD 122.7 Billion in 2022, energy-efficient buildings have cemented their relevance as a pivotal contributor to sustainable and financially savvy construction practices worldwide. These constructs are fashioned to use a drastically lower quantity of energy for the likes of heating, cooling, and lighting, echoing the collective environmental and economic exigencies of modern times.

Substantial Market Drivers

The thrust of the market is propelled by key drivers such as the induction of energy-efficient technologies and strategies, heightening environmental awareness, overarching regulations, and pronounced long-term cost savings. Smart building technologies further accentuate the market expansion by ensuring optimal energy use in alignment with various real-time parameters.

Key Regional Insights

The North American market, particularly in the United States and Canada, is demonstrating stellar performance, being the most significant shareholder and trendsetter in the global arena. Embracing avant-garde technologies like the Internet of Things (IoT) and artificial intelligence (AI), North America is trailblazing the path for energy-efficient solutions in the built environment.

The European region is following closely, driven by stringent regulatory mandates for energy conservation. Asia-Pacific regions are also marked as dominant players, given their rapid advancement in solar energy and sustainable building investments.

Market Opportunities And Challenges

Even though the prospect holds immense potential, challenges such as high initial costs, the necessity for skilled professionals, and the intricacies of integrated designs pose as hindrances that need to be navigated through strategic planning and robust skill development.

Segmentation Synopsis

  • Energy-efficient ventilation systems
  • Innovative lighting technologies
  • Advanced energy management systems

These systems, especially energy management segments, are expected to register significant growth, given the ascendancy in the demands across various industry verticals.

By building type, the commercial sector occupies a lion's share, with a substantial 47% contribution to the market revenue, driven primarily by cost-saving opportunities and integration of sophisticated systems.

Emerging Trends And Developments

The industry is witnessing a swift navigation towards smart infrastructural developments aligned with sustainability goals. This upswing is catalyzed by the governmental push for green building initiatives and the intrinsic need for better energy management in response to the soaring energy prices.

As the energy-efficient building market unfolds its myriad opportunities, it is set to redefine the global landscape of sustainable construction, resonating with the aspirations for a greener and more economical future.

Key Attributes:

Report Attribute Details
No. of Pages 175
Forecast Period 2022 - 2028
Estimated Market Value (USD) in 2022 $122.7 Billion
Forecasted Market Value (USD) by 2028 $193.23 Billion
Compound Annual Growth Rate 6.9%
Regions Covered Global

Report Scope:
In this report, the Global Energy-Efficient Building Market has been segmented into the following categories:
Global Energy-Efficient Building Market, By Building Type:

  • Residential
  • Commercial
  • Industrial

Global Energy-Efficient Building Market, By Component Type:

  • Ventilation Systems
  • Lighting Technologies
  • Energy Management Systems
  • Controls

Companies Profiled

  • Cleantech Group
  • Johnson Controls
  • Ameresco Inc.
  • Serious Energy Inc.
  • Knauf Insulation
  • Architectural Energy Corporation
  • KMC Controls Inc.

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