Energy-Efficient Building Market to Grow at 9.6% CAGR to 2020
Rising energy prices will be a key trend for market growth
PUNE, India — The global energy-efficient building market is projected to grow at a compound annual growth rate (CAGR) of 9.6 percent during the forecast period of 2016 to 2020, according to a report from Sandler Research.
The report says rising energy prices will be a key trend for market growth. The increase in energy demand from various residential and commercial operations has resulted in a marked increase in energy cost over the years. For example, in the U.S., the average electricity price for the retail and residential sectors notched up at a 2.3 percent annual growth rate from 2008-2015. This has led to the growing demand for energy-efficient buildings. The focus has shifted from energy generation to energy conservation.