Market Research Report
France Energy Retrofit System Market Forecast 2022-2028
|France Energy Retrofit System Market Forecast 2022-2028|
Published: May 10, 2022
Content info: 150 Pages
Delivery time: 2-3 business days
The France energy retrofit system market is expected to increase with a CAGR of 4.96% during the forecast period, 2022-2028. The government's pledge to create energy-efficient and sustainable functioning of the industries and the presence of leading market players in the country support the market growth.
According to the 2021 policy review of the International Energy Agency (IEA) of France, the rate of low-carbon energy technologies deployment and energy efficiency solutions is not growing at the expected pace to meet the government's energy and climate targets. Therefore, the need for stronger policy efforts and increased investments will help the country attain its energy efficiency and sustainability goals. Also, strict regulations to minimize Greenhouse Gas (GHG) emissions in addition to lower carbon footprint are projected to drive the France energy retrofit system market growth.
Furthermore, French power has been generating significantly lower carbon dioxide emissions for decades than similar economies, owing to its dependency on nuclear energy. However, France's nuclear fleet is depleting, and the overall carbon dioxide emissions are surging because of the rapidly increasing energy consumption across the economy. As a result, the French government introduced Investment Programme in 2030, in addition to an ambitious economic recovery plan, focusing on clean energy transitions and innovative funding schemes to encourage building retrofits and low-carbon transport. Thus, the steps by the government to overcome setbacks towards attaining sustainability create opportunities for market growth of energy retrofit systems.
Some leading market players operating in France include Engie, Siemens, Schneider Electric, etc.