Energy Retrofit Systems Market Size, Share & Trends Report

Energy Retrofit Systems Market Size, Share & Trends Analysis Report By Product (Envelope, LED Retrofit Lighting, HVAC Retrofit, Appliances), By Application, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68038-739-1
  • Number of Pages: 120
  • Format: Electronic (PDF)

Market Segmentation

  • Product Outlook (Revenue, USD Billion, 2018 - 2030)
    • Envelope
    • LED Retrofit Lighting
    • HVAC Retrofit
    • Appliances
  • Application Outlook (Revenue, USD Billion, 2018 - 2030)
    • Residential
    • Non-Residential
  • Underground gas storage Regional Outlook (Revenue, USD Billion, 2018 - 2030)
    • North America
      • North America Energy Retrofit Systems Market, By Product
        • Envelope
        • LED Retrofit Lighting
        • HVAC Retrofit
        • Appliances
      • North America Energy Retrofit Systems Market, By Application
        • Residential
        • Non-Residential
      • U.S.
        • U.S. Energy Retrofit Systems Market, By Product
          • Envelope
          • LED Retrofit Lighting
          • HVAC Retrofit
          • Appliances
        • U.S. Energy Retrofit Systems Market, By Application
          • Residential
          • Non-Residential
      • Canada
        • Canada Energy Retrofit Systems Market, By Product
          • Envelope
          • LED Retrofit Lighting
          • HVAC Retrofit
          • Appliances
        • Canada Energy Retrofit Systems Market, By Application
          • Residential
          • Non-Residential
    • Europe
      • Europe Energy Retrofit Systems Market, By Product
        • Envelope
        • LED Retrofit Lighting
        • HVAC Retrofit
        • Appliances
      • Europe Energy Retrofit Systems Market, By Application
        • Residential
        • Non-Residential
      • Germany
        • Germany Energy Retrofit Systems Market, By Product
          • Envelope
          • LED Retrofit Lighting
          • HVAC Retrofit
          • Appliances
        • Germany Energy Retrofit Systems Market, By Application
          • Residential
          • Non-Residential
      • Russia
        • Russia Energy Retrofit Systems Market, By Product
          • Envelope
          • LED Retrofit Lighting
          • HVAC Retrofit
          • Appliances
        • Russia Energy Retrofit Systems Market, By Application
          • Residential
          • Non-Residential
      • U.K.
        • U.K. Energy Retrofit Systems Market, By Product
          • Envelope
          • LED Retrofit Lighting
          • HVAC Retrofit
          • Appliances
        • U.K. Energy Retrofit Systems Market, By Application
          • Residential
          • Non-Residential
      • Spain
        • Spain Energy Retrofit Systems Market, By Product
          • Envelope
          • LED Retrofit Lighting
          • HVAC Retrofit
          • Appliances
        • Spain Energy Retrofit Systems Market, By Application
          • Residential
          • Non-Residential
      • Italy
        • Italy Energy Retrofit Systems Market, By Product
          • Envelope
          • LED Retrofit Lighting
          • HVAC Retrofit
          • Appliances
        • Italy Energy Retrofit Systems Market, By Application
          • Residential
          • Non-Residential
      • France
        • France Energy Retrofit Systems Market, By Product
          • Envelope
          • LED Retrofit Lighting
          • HVAC Retrofit
          • Appliances
        • France Energy Retrofit Systems Market, By Application
          • Residential
          • Non-Residential
    • Asia Pacific
      • Asia Pacific Energy Retrofit Systems Market, By Product
        • Envelope
        • LED Retrofit Lighting
        • HVAC Retrofit
        • Appliances
      • Asia Pacific Energy Retrofit Systems Market, By Application
        • Residential
        • Non-Residential
      • China
        • China Energy Retrofit Systems Market, By Product
          • Envelope
          • LED Retrofit Lighting
          • HVAC Retrofit
          • Appliances
        • China Energy Retrofit Systems Market, By Application
          • Residential
          • Non-Residential
      • Japan
        • Japan Energy Retrofit Systems Market, By Product
          • Envelope
          • LED Retrofit Lighting
          • HVAC Retrofit
          • Appliances
        • Japan Energy Retrofit Systems Market, By Application
          • Residential
          • Non-Residential
      • South Korea
        • South Korea Energy Retrofit Systems Market, By Product
          • Envelope
          • LED Retrofit Lighting
          • HVAC Retrofit
          • Appliances
        • South Korea Energy Retrofit Systems Market, By Application
          • Residential
          • Non-Residential
      • India
        • India Energy Retrofit Systems Market, By Product
          • Envelope
          • LED Retrofit Lighting
          • HVAC Retrofit
          • Appliances
        • India Energy Retrofit Systems Market, By Application
          • Residential
          • Non-Residential
      • Australia
        • Australia Energy Retrofit Systems Market, By Product
          • Envelope
          • LED Retrofit Lighting
          • HVAC Retrofit
          • Appliances
        • Australia Energy Retrofit Systems Market, By Application
          • Residential
          • Non-Residential
    • Central & South America
      • Central & South America Energy Retrofit Systems Market, By Product
        • Envelope
        • LED Retrofit Lighting
        • HVAC Retrofit
        • Appliances
      • Central & South America Energy Retrofit Systems Market, By Application
        • Residential
        • Non-Residential
      • Brazil
        • Brazil Energy Retrofit Systems Market, By Product
          • Envelope
          • LED Retrofit Lighting
          • HVAC Retrofit
          • Appliances
        • Brazil Energy Retrofit Systems Market, By Application
          • Residential
          • Non-Residential
      • Colombia
        • Colombia Energy Retrofit Systems Market, By Product
          • Envelope
          • LED Retrofit Lighting
          • HVAC Retrofit
          • Appliances
        • Colombia Energy Retrofit Systems Market, By Application
          • Residential
          • Non-Residential
      • Paraguay
        • Paraguay Energy Retrofit Systems Market, By Product
          • Envelope
          • LED Retrofit Lighting
          • HVAC Retrofit
          • Appliances
        • Paraguay Energy Retrofit Systems Market, By Application
          • Residential
          • Non-Residential
    • Middle East and North Africa
      • Middle East and North Africa Energy Retrofit Systems Market, By Product
        • Envelope
        • LED Retrofit Lighting
        • HVAC Retrofit
        • Appliances
      • Middle East and North Africa Energy Retrofit Systems Market, By Application
        • Residential
        • Non-Residential
      • UAE
        • UAE Energy Retrofit Systems Market, By Product
          • Envelope
          • LED Retrofit Lighting
          • HVAC Retrofit
          • Appliances
        • UAE Energy Retrofit Systems Market, By Application
          • Residential
          • Non-Residential
      • South Africa
        • South Africa Energy Retrofit Systems Market, By Product
          • Envelope
          • LED Retrofit Lighting
          • HVAC Retrofit
          • Appliances
        • South Africa Energy Retrofit Systems Market, By Application
          • Residential
          • Non-Residential
      • Egypt
        • Egypt Energy Retrofit Systems Market, By Product
          • Envelope
          • LED Retrofit Lighting
          • HVAC Retrofit
          • Appliances
        • Egypt Energy Retrofit Systems Market, By Application
          • Residential
          • Non-Residential

Energy Retrofit Systems Market Dynamics

Driver: Increasing need to improve energy efficiency

Energy is the primary fuel source for social and economic development. All industries need the systems to function, and they face a continuous demand for energy due to increasing consumer demand for such systems. To promote the transition toward more sustainable energy systems, regulators and policymakers have been approving measures to improve energy efficiency and promote energy retrofit systems. Vast changes, in terms of energy operations, are seen in residential sector as building managers become more aware of the need to adopt energy-efficient (lighting, heating, and cooling solutions. Energy efficiency is of immense significance for consumers of battery-powered devices and those having limited access to energy supply. Favorable government incentives in the U.S. are expected to drive the market in residential sector. The ability to remotely control HVAC and other energy-consuming equipment as well as gather details for energy-consuming electronic devices and appliances. These factors are anticipated to drive the energy retrofit system market during the forecast period.

Driver: Regulatory mandates and incentive programs

In response to the Kyoto Protocol and other similar targets set by international directives or standards, energy-efficiency measures are being increasingly included in building codes and standards of most of the developed countries globally. Over the past decade, such regulations have been increasingly implemented in emerging economies including China, Mexico, India, and Singapore. These requirements drive the implementation of national building codes & standards and contribute to the harmonization of actions taken. In addition, various incentives, generally of a financial nature, exist to encourage investments that reduce building energy consumption and CO2 emissions. Financial aid can be in a variety of forms including tax reductions, grants, soft loans, or the avoidance of penalties. Many companies volunteer to produce a carbon disclosure report and benefit from federal/state tax incentives. Such benefits of policy and incentive programs are expected to drive the market. The low cost of renewable energy and low-priced infrastructure have encouraged rapid production of energy retrofit systems, leading to growing adoption across residential and commercial end users. Government programs and policies in China for existing and new constructions, including the Three-Star Rating System, to encourage environment-friendly green buildings. The codes set a prerequisite that needs to be followed during the construction of all new residential and non-residential buildings in China.

Restraint: Longer payback period and hidden costs

Technologies used in energy retrofit systems are still expensive as the R&D incurs high costs. Moreover, capital spending is largely correlated with the financial health of a company. In addition, the return on investment is gradual and may take a period of nearly three to four years. These factors prove to be major restraints for the market. Hidden costs refer to any costs that are not usually included in the economic models of the company. Apart from the core cost of energy retrofit systems, several hidden costs, such as general overhead costs, industry-specific costs with respect to the choice of an energy-efficient option, and the potential loss of utility associated with energy-efficient choices add up to the total investment necessary. This makes energy retrofit systems even more expensive. The general overhead costs of system include the cost of employing specialists and cost of energy auditing. The industry-specific costs include the cost of identifying opportunities, detailed investigation & design, and costs associated with disruptions and inconvenience. The last category, i.e. the potential loss of utility includes problems related to safety, working conditions, service quality, and extra maintenance. Such costs add up to the total investment, thereby making energy retrofit systems even more expensive. These factors are some of the major obstacles for many organizations which are limiting the growth prospects of the market. 

What Does This Report Include?

This section will provide insights into the contents included in this energy retrofit systems market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Energy setrofit systems market qualitative analysis

  • Industry overview

  • Industry trends

  • Market drivers and restraints

  • Market size

  • Growth prospects

  • Porter’s analysis

  • PESTEL analysis

  • Key market opportunities prioritized

  • Competitive landscape

    • Company overview

    • Financial performance

    • Product benchmarking

    • Latest strategic developments

Energy retrofit systems market quantitative analysis

  • Market size, estimates, and forecast from 2018 to 2030

  • Market estimates and forecast for product segments up to 2030

  • Regional market size and forecast for product segments up to 2030

  • Market estimates and forecast for application segments up to 2030

  • Regional market size and forecast for application segments up to 2030

  • Company financial performance

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