PUBLISHER: Inkwood Research | PRODUCT CODE: 1122727
PUBLISHER: Inkwood Research | PRODUCT CODE: 1122727
The Europe energy management systems market is anticipated to rise with a CAGR of 15.49% during the forecasting years 2022 to 2030. Some of the key drivers influencing the regional market's growth are the surging need for smart buildings, the rise in government measures to mitigate carbon emissions, and the increasing electricity demand.
The Europe energy management systems market growth assessment constitutes the analysis of Italy, France, Germany, Denmark, Norway, Spain, the United Kingdom, and Rest of Europe. In 2020, France presented the National Energy and Climate Plan (NECP) to the European Union (EU) under the EU Governance Regulation. The NECP also laid out energy efficiency targets for the years 2020 and 2030 for primary as well as final energy consumption. Moreover, in 2020, France also became the first nation to conduct a primary assessment of the 2021 Budget Bill's environmental impact.
In addition, numerous measures were undertaken by Italy in order to promote energy efficiency. The country also adopted the Renewable Energy Action Plan in 2010 to achieve 17% of the overall energy consumption from renewable sources by the year 2020. Furthermore, Italy's National Energy Strategy in 2013 implied the government's medium- and long-term goals for the energy sector, as well. These included strengthening the energy supply security, minimizing energy costs, fostering sustainable economic growth, and meeting environmental targets. Therefore, these factors are set to propel the Europe energy management systems market growth during the forecasted period.
Leading companies operating in the market are: Siemens, Fuuse, Schneider Electric, etc.