March 18, 2015: Energy Efficient Building Products Revenue to Exceed $4.3 Billion from 2015-2023
HVAC, Controls, and Lighting Expected to Gain Increasing Market Share
BOULDER, Colo. — Today’s building stock accounts for a substantial amount of global energy use, putting increased pressure on governments and corporations to reduce their energy-related spending and carbon footprints, notes Navigant Research. As a result, energy efficiency has become a broad-based strategy to solve both of these challenges. According to a report from the research firm, cumulative revenue from energy efficient building products and services is expected to total more than $4.3 billion from 2015 to 2023.
“Energy efficiency measures are becoming increasingly mainstream,” said Noah Goldstein, research director with Navigant Research. “Governments are introducing policies to promote energy efficiency through incentives, prescriptive measures, and building codes, and green building certification has shifted from a leading-edge practice to a mainstream concept in commercial real estate markets — so much so that it’s becoming the de facto standard in some cities.”
Currently, building envelope technologies, including building materials, represent the largest energy efficient building market segment, according to the report. In the coming years, mechanical and electrical systems, such as HVAC, controls, and lighting, are expected to gain increasing market share. The energy efficient building ecosystem is maturing and expanding in all sectors, the report finds, incorporating utilities, new demand-management players, and facility managers who are interacting and partnering in new ways.
The report, “Energy Efficient Buildings: Global Outlook,” analyzes the global market for commercial building energy efficient products and services. An executive summary of the report is available here.
Publication date: 3/16/2015