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Net-Zero Energy Buildings Market Analysis, Size Forecasts Till 2025: Grand View Research, Inc.
According to a report by Grand View Research, Inc., the global net- zero energy buildings (NZEBs) market is estimated to attain size worth USD 78.79 billion by the end of 2025. Growing requirement for onsite renewable energy sources in residential and commercial buildings to reduce carbon emissions can stoke the growth of the market during the forecast period (2017 to 2025). Net-zero energy buildings can meet net energy consumption through on-site renewable energy technologies instead of conventional fuels.
Favorable initiatives from regulatory authorities across the globe to create awareness regarding benefits of low carbon emission, green, and nearly zero-energy buildings are providing an upthrust to the market. Growing environmental concerns coupled with strict regulations towards building codes can influence the growth of the market positively in the forthcoming years. Increasing use of on-site renewables in place of fuels such as natural gas, electricity, and steam to achieve energy efficient buildings can augment the market.
Browse Research Report on Net-Zero Energy Buildings Market:
The net-zero energy building market can be segmented on the basis of equipment, services, building type, and geography. Based on equipment, the market can be classified into HVAC systems, lighting, walls & roofs, and others. In 2016, the HVAC systems segment dominated the market. The segment is poised to maintain its position throughout the forecast horizon as it forms a critical part of zero net energy (ZNE) setup.
The walls and roofs segment is expected to follow HVAC systems in terms of growth during the same period. Continuous development and upgradations of the product to attain desired efficiency are estimated to contribute to the growth of the segment.
Based on services, the market can be bifurcated into software and consulting & designing. In 2016, the consulting and designing segment represented the leading share in the market. High demand for such services in initial stages of zero net energy (ZNE) projects is contributing to the dominance of the segment. It is anticipated to witness remarkable growth during the forecast period owing to soaring demand for ZNE structures from residential and commercial sectors.
The software segment is likely to post a steady pace of growth during the same period owing to surging demand among designers and architects to create sustainable designs. Based on building type, the market can be divided into residential and commercial. In 2016, the commercial segment led the market. It is projected to experience a healthy CAGR during the forecast period. Commercial buildings such as corporate offices, institutes, government offices, and production plants are poised to be early end users of net-zero energy buildings.
On the other hand, the residential segment is expected to observe the highest growth rate during the forecast period. Strong demand for environment protection coupled with supportive efforts from local authorities to promote benefits of NZEBs is driving the growth of the segment. Initiatives such as promotions, campaigns, and fests focusing on long-term benefits of zero net energy (ZNE) structures can attract residential population.
The key regions studied in the report are Europe, Asia Pacific, North America, South America, and Middle East & Africa. In 2016, North America was at the forefront of the growth of the market. Countries such as Canada and the U.S. are estimated to be the prominent adopters of the NZEB technology, which will benefit the growth of the region. In addition, stringent regulations by local government coupled with efforts of organizations such as U.S. energy department to achieve sustainability of existing and new buildings can escalate the growth of the regional market.
In Europe, the market is anticipated to witness significant growth during the forecast period. Extensive efforts from European countries to achieve global sustainability can influence the growth of the market in this region. In addition, rising awareness to attain clean and green environment by reducing carbon emissions is likely to trigger the growth of the regional market during the forecast period.
In Asia Pacific, the market is projected to experience noteworthy growth in the coming years, which can be attributed to rapid urbanization. In addition, increasing awareness regarding benefits of green buildings and rising investments for development of infrastructure. Developing and developed countries such as Singapore, India, Taiwan, South Korea, Australia, and Japan are poised to realize the importance of NZEBs. Hence, local manufacturers, service providers, and builders are expected to collaborate with local governments and organizations to grab tap into tremendous opportunities.
Some of the leading companies offering net-zero energy buildings are SunPower Corporation, Johnson Controls, General Electric, Kingspan Group, and Schneider Electric.
View press release of this research report by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and healthcare.
For more information: www.grandviewresearch.com