The demand for energy efficiency retrofits in commercial and public buildings comes from many different sources. First and foremost is the desire to reduce the energy costs necessary to operate the structure. However, this motivation is not the only reason that energy efficiency retrofits are implemented. Many retrofits are undertaken through a sense of social responsibility to reduce greenhouse gas (GHG) emissions and carbon footprints, while others are done to try to retain tenants and gain a market edge in a competitive building market. Some retrofits are completed simply for the purpose of being able to label the building as being green or environmentally friendly. No matter what the motivation, energy efficiency retrofits are a rapidly growing market, the result of which will benefit the environment, building owners, tenants, and communities alike.
The motivations of consumers and the influence of governments drive the demand for innovative new products to meet the needs of the owners of older buildings who wish to achieve energy savings through the use of building upgrades. This demand is met with a host of increasingly efficient products from suppliers of heating, ventilation, and air conditioning (HVAC) equipment, lighting, windows, insulation, control software, and countless other products. Industry participants warn that to achieve a successful retrofit, both in terms of cost and comfort, each building must be addressed as a unique situation. Trying to apply a one-size-fits-all solution across multiple structures is a common pitfall of the industry that results in less energy savings and unhappy building occupants.
This Pike Research report examines the global market landscape for energy efficiency retrofits in commercial and public buildings, including analysis and forecasts for eight different building types as well as eight product and service categories. The report covers key industry drivers by world region including regulatory and policy factors as well as market-based factors and economic considerations. More than 50 industry players are profiled in depth and energy efficiency retrofit revenue forecasts, segmented by world region and key countries, extend through 2020.