Building envelope technologies represent the largest energy efficient building market segment, report finds
A recent report from Navigant Research analyzes the global market for commercial building energy efficient products and services, including global market forecasts for revenue through 2023.
Today’s building stock accounts for a substantial amount of global energy use, putting increased pressure on governments and corporations alike to reduce their carbon footprints and energy-related spending. As a result, energy efficiency has become a broad-based strategy to solve both of these challenges. Click to tweet: According to a recent report from Navigant Research, 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,” says 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, lighting, and controls, 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. The study summarizes the market drivers and barriers for energy efficient products and services, including the services provided by energy service companies (ESCOs) through energy performance contracting, across the policy and technology landscape in seven regions. Global market forecasts for revenue, broken out by product and service, building type, construction type, and region, extend through 2023. The report also examines the key technologies related to energy efficient building products and services, as well as the competitive landscape.