Asia Pacific Energy Retrofit Systems Market Size & Outlook
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Asia Pacific energy retrofit systems market highlights
- The Asia Pacific energy retrofit systems market generated a revenue of USD 41.2 billion in 2022.
- The market is expected to grow at a CAGR of 6.4% from 2023 to 2030.
- In terms of segment, envelope was the largest revenue generating product in 2022.
- LED Retrofit Lighting is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2023 to 2030.
Asia Pacific data book summary
| Market revenue in 2022 | USD 41.2 billion |
| Market revenue in 2030 | USD 67.6 billion |
| Growth rate | 6.4% (CAGR from 2022 to 2030) |
| Largest segment | Envelope |
| Fastest growing segment | LED Retrofit Lighting |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Envelope, LED Retrofit Lighting, HVAC Retrofit, Appliances |
| Key market players worldwide | Daikin Industries Ltd, Eaton Corp PLC, AECOM, Johnson Controls International PLC, Ameresco Inc Class A, Siemens AG, Trane Technologies PLC Class A, Orion Group Holdings Inc, Orion Energy Systems Inc, Signify NV, Engie SA, GE Aerospace, Schneider Electric SE |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 27.5% of the global energy retrofit systems market in 2022.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 67.6 billion by 2030.
Envelope was the largest segment with a revenue share of 51.46% in 2022. Horizon Databook has segmented the Asia Pacific energy retrofit systems market based on envelope, led retrofit lighting, hvac retrofit, appliances covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific accounted for a share of 27.40% of the global energy retrofit systems market in 2020. The market in this region is led by China, Japan, and India. The reduction in renewable energy costs and the decrease in infrastructure costs promote the rapid production of energy modernization systems in the region, leading to the increasing adoption of these systems by residential and commercial end users in Asia Pacific.
The Government of China has launched several plans and policies, such as a three-star rating system, to promote the development of environment-friendly new green buildings and retrofit the existing ones in the country. In the past 10 years, the central government of the country has reasonably expanded the enforcement scope of laws and regulations.
These energy building codes establish the prerequisites that must be followed during the construction of all new residential and non-residential buildings in each city of China.
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Energy Retrofit Systems Market Scope
Energy Retrofit Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Orion Energy Systems Inc | View profile | 265 | 2210 Woodland Drive, Manitowoc, WI, United States, 54220 | https://www.orionlighting.com |
| Ameresco Inc Class A | View profile | 1503 | 111 Speen Street, Suite 410, Framingham, MA, United States, 01701 | https://www.ameresco.com |
| Orion Group Holdings Inc | View profile | 1796 | 12000 Aerospace Avenue, Suite 300, Houston, TX, United States, 77034 | https://www.oriongroupholdingsinc.com |
| Trane Technologies PLC Class A | View profile | 40000 | 170/175 Lakeview Drive, Airside Business Park, Swords County, Dublin, Ireland | https://www.tranetechnologies.com |
| Signify NV | View profile | 31920 | High Tech Campus 48, Eindhoven, Netherlands, 5656 AE | https://www.signify.com |
| Eaton Corp PLC | View profile | 94000 | 30 Pembroke Road, Eaton House, Dublin, Ireland, D04 Y0C2 | https://www.eaton.com |
| AECOM | View profile | 52000 | 13355 Noel Road, Suite 400, Dallas, TX, United States, 75240 | https://www.aecom.com |
| Daikin Industries Ltd | View profile | 107127 | Umeda Center Building, 2-4-12, Nakazaki-Nishi, Kita-ku, Osaka, Japan, 530-8323 | http://www.daikin.com |
| Engie SA | View profile | 97000 | 1, Place Samuel de Champlain, Courbevoie, France, 92400 | https://www.engie.com |
| GE Aerospace | View profile | 125000 | One Financial Center, Suite 3700, Boston, MA, United States, 02111 | https://www.geaerospace.com |
| Siemens AG | View profile | 321000 | Werner-von-Siemens-Strabe 1, Munich, BY, Germany, 80333 | https://www.siemens.com |
| Schneider Electric SE | View profile | 162339 | 35, rue Joseph Monier - CS 30323, Rueil Malmaison, France, F-92506 | https://www.se.com |
| Johnson Controls International PLC | View profile | 102000 | One Albert Quay, Cork, Ireland, T12 X8N6 | https://www.johnsoncontrols.com |
Asia Pacific energy retrofit systems market size, by country, 2018-2030 (US$B)
Asia Pacific Energy Retrofit Systems Market Outlook Share, 2022 & 2030 (US$B)
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