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Energy-efficient buildings, new or refurbished, can be defined as buildings designed to significantly reduce heating and cooling energy requirements, no matter what energy and equipment are selected for heating or cooling. Energy-saving building design involves constructing or upgrading buildings that can fully use the power provided to them by taking measures to reduce energy loss, like lowering the heat loss of the building envelope.
Based on components, the global energy-saving buildings market has been segmented into ventilation systems, lighting technology, energy management systems, and controls. Due to the increasing demand for well-equipped systems from end-users, the energy management department is expected to achieve the highest growth during the forecast period.
The world market for energy-efficient buildings has been divided into residential, commercial, and industrial based on the end-user. Due to the growth of the global corporate sector, the commercial sector is expected to achieve the highest growth rate in the worldwide market during the forecast period. Furthermore, commercial buildings also follow the green building trend. Business owners are also concerned about sustainability, further increasing the demand for energy-efficient buildings.
Due to various factors such as the increase in the number of green buildings, the increased demand for proper energy management of buildings, and the adoption of intelligent buildings and sustainable solutions, the global market for energy-efficient buildings is expected to grow steadily. Governments around the world are promoting energy efficiency and resource conservation, which has further promoted market growth. The increasing focus on energy efficiency by government authorities worldwide has led to a great demand for energy-efficient buildings. With the increase in the number of initiatives taken by infrastructure and development organizations in recent years, the penetration rate of energy-efficient buildings is increasing rapidly. This forces building manufacturers and developers to pay more attention to green building projects.
One of the most common shortcomings of energy-efficient buildings is the high cost of implementation. Also, building materials are not always available. The most significant negative characteristic of energy-efficient buildings is environmental issues. Although it is environmentally friendly and produces fewer carbon emissions, it has a slight adverse effect on human health. Due to the high thermal insulation of the house, there is less ventilation and air filtration, and the chemicals have nowhere to go and will accumulate in the place; therefore, it can cause various diseases.
Key Market Driver -
Increased demand of green construction due to enhanced consumer conscience
Key Market Restraint -
High operating cost to stagnate market
Major companies in the global energy-efficient building market are Cleantech Group, Siemens Building Technologies, Telefonica, Johnson Controls, Ameresco, Serious Energy, Knauf Insulation, Architectural Energy Corporation, KMC Controls Inc. Integrated Environmental Solutions, Solatube, SageGlass, and Kingspan.
The energy-efficient building market is studied across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Due to strict energy efficiency regulations for sustainable development, Europe and North America have essential shares in the global market. The sustainable development of these two regions prioritizes energy conservation, driving the demand for energy-efficient buildings. In addition, the rise of the European construction industry, including high-tech construction and renovation activities, has created profitable solutions for intelligent buildings. This high adoption rate can be attributed to increased per capita energy price expenditures, mainly in commercial and industrial buildings.
The North American region is expected to record the highest growth rate in the market. The can be attributed to the area witnessing the emergence of the latest intelligent building solutions using new technologies such as the Internet of Things, big data, cloud computing, data analytics, deep learning, and artificial intelligence. Save energy, reduce operating expenses, improve occupancy comfort, and meet increasingly stringent global regulations and sustainability standards. Additionally, due to organizations' rapid adoption of emerging technologies in the region, North America is the most technologically advanced region globally. In addition, the United States and Canada are major countries that have contributed to the region's technological development.
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