"Energy retrofits improve building efficiency by reducing energy consumption and costs. They play a crucial role in driving sustainability and growth in global markets for commercial and public buildings."
BOSTON, March 25, 2025 /PRNewswire/ -- According to the latest study from BCC Research, the demand for Energy Retrofits for Commercial and Public Buildings: Global Markets [https://www.bccresearch.com/market-research/energy-and-resources/energy-retrofits-buildings-markets-report.html?utm_source=PRNWEGY074C&utm_medium=referral&utm_campaign=prnewswire] is growing from $134.7 billion in 2024 to $191.3 billion by the end of 2029, at a compound annual growth rate (CAGR) of 7.3% from 2024 through 2029.
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This report analyzes the energy retrofit market by retrofit type, product and building type, highlighting key technologies, regulations and market trends. It includes a patent review, Porter's Five Forces analysis, ESG developments, and profiles of leading companies. Regional coverage spans North America, Europe, Asia-Pacific, and the Rest of the World, with detailed insights into countries such as the U.S., Germany, the U.K., and China. The study uses 2023 as the base year, provides projections from 2024 to 2029, and excludes residential and industrial buildings. All values are presented in millions of dollars.
Interesting facts
-- Retrofitting older buildings can cut global energy use by nearly 40%,
according to the World Economic Forum.
-- In 2023, over 8,800 U.S. commercial buildings earned Energy Star
ratings, saving $2.2 billion and reducing 5.7 million metric tons of
greenhouse gas (GHG) emissions.
-- Buildings account for 39% of global energy-related carbon emissions--28%
from operations (heating, cooling, and power) and 11% from materials and
construction, according to the World Green Building Council.
Factors contributing to the market's growth include:
1. Government regulations and incentives that improve energy efficiency in
buildings: Governments are introducing regulations and incentives to
encourage energy-efficient upgrades in buildings. These measures help
reduce energy consumption, lower costs, and support sustainability goals.
2. Initiatives that reduce GHG emissions are increasing: More initiatives
are being launched globally to reduce GHG emissions and fight climate
change. These efforts focus on cleaner technologies and sustainable
practices to protect the environment.
3. Growing focus on how to harness power from clean energy sources: The
world is increasingly focusing on harnessing clean energy sources such as
solar, wind, and hydropower to reduce reliance on fossil fuels. These
efforts aim to create a more sustainable and eco-friendly energy future.
4. Technological innovations in energy retrofit systems: Technological
innovations in energy retrofit systems are helping buildings become more
energy-efficient and eco-friendly. These advances include smarter
insulation, energy-saving windows, and upgraded heating and cooling
systems.
Request a sample copy of Energy Retrofits for Commercial and Public Buildings: Global Markets [https://www.bccresearch.com/market-research/energy-and-resources/energy-retrofits-buildings-markets-report.html?ro=yes&utm_source=PRNWEGY074C&utm_medium=referral&utm_campaign=prnewswire]
Report Synopsis
Report Metric Details Base year considered 2023 Forecast period considered 2024-2029 Base year market size $126.5 billion Market size forecast $191.3 billion Growth rate CAGR of 7.3% from 2024 to 2029 Segments covered By retrofit type, product type, building type, and region Regions covered North America, Europe, Asia-Pacific, and the Rest of the World (South America, the Middle East and Africa) Market drivers -- Government regulations and incentives that improve energy efficiency in buildings. -- Initiatives that reduce GHG emissions are increasing. -- Growing focus on how to harness power from clean energy sources. -- Technological innovations in energy retrofit systems.
This report addresses the following questions:
1. What is the projected market size and growth rate?
The projected market size in 2029 is $191.3 billion, and the market's CAGR is 7.3% during the forecast period.
2. What factors are driving the growth of the market?
Supportive government regulations and incentives to improve energy efficiency in buildings, growing initiatives to reduce GHG emissions and Increasing focus on harnessing power from clean energy sources.
3. What market segments are covered in the report?
Retrofit type, product type, building type and region.
4. Which product type segment will be dominant in 2029?
The building envelope segment will lead the market in 2029.
5. Which region has the largest market share in the market?
Europe holds the largest share of the global market.
Leading companies in the market include:
-- AECOM
-- Ameresco
-- American Hydrotech Inc.
-- Carrier
-- Copeland LP
-- Daikin Industries Ltd.
-- Eaton
-- Honeywell International Inc.
-- Johnson Controls
-- Lennox International Inc.
-- Metrus Energy Inc.
-- Orion Energy Systems Inc.
-- Schneider Electric
-- Signify Holding
-- Trane Technologies Plc.
Purchase a copy of the report [https://www.bccresearch.com/market-research/energy-and-resources/energy-retrofits-buildings-markets-report.html?utm_source=PRNWEGY074C&utm_medium=referral&utm_campaign=prnewswire] direct from BCC Research.
For further information on these reports or to purchase one, please contact info@bccresearch.com [mailto:info@bccresearch.com].
About BCC Research
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