HVAC Breaking News / News

July 17, 2012: Commercial Building Energy Efficiency Retrofits Expected to Double by 2020

July 17, 2012
BOULDER, Colo. — Regardless of the motivation, whether it’s to save the environment or save money, energy efficiency retrofits represent a rapidly growing market. According to a new report from Pike Research, this global market will expand from $80.3 billion in 2011 to $151.8 billion by 2020.

Pike Research noted that efforts to retrofit commercial and public buildings to make them more energy efficient have a number of drivers, including a sense of social responsibility to reduce greenhouse gases and carbon footprint, an attempt to retain tenants and gain a market edge in a competitive building market, and, above all, the desire to reduce operational costs by reducing energy consumption.

“Retrofitting existing buildings offers one of the most cost-effective ways for a business to reduce its operating expenses,” said senior analyst Eric Bloom. “Many energy conservation measures can be implemented within strict investment criteria, and a growing number of financial instruments are deepening the scope of energy efficiency retrofits, driving continued investment in energy efficient HVAC, lighting, and control systems.”

North American energy efficiency revenues are forecast to more than double over the remainder of the decade, increasing to $35.3 billion by 2020.

Western Europe is expected to remain the largest market for energy efficiency retrofits in commercial and public buildings, but its share of world revenues is predicted to drop from 41 percent in 2011 to 37 percent in 2020. Asia Pacific, which represented 32 percent ($26 billion) of the revenue stream in 2011, is forecast to increase to 36 percent ($54.6 billion) by 2020, almost equaling Western Europe.

Publication date: 7/16/2012

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 MCAA Annual Convention

Scenes from the 2014 MCAA Annual Convention in Scottsdale, Ariz.

Podcasts

NEWSmakers: Julian Scadden

Training is an ongoing process. Julian will discuss how you can generate maximum return on time and energy invested training by following a three part process. Listen to this podcast to get expert tips on training, tracking and follow up. 

More Podcasts

THE MAGAZINE

ACHRNEWS

NEWS 04-14-14 cover

2014 April 14

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

SERVICE CALLS POLL

Which statement on service calls best applies to your business?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con