The latest market research report by Technavio on the global zero-energy buildings market predicts a CAGR of around 39% during the period 2017-2021.
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Technavio has published a new market research report on the global zero-energy buildings market from 2017-2021. (Photo: Business Wire)
The report segments the global zero-energy buildings market by application (public and commercial buildings, and residential buildings), by product (HVAC and controls, insulation and glazing, lighting and controls, and water heating), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global zero-energy buildings market, according to Technavio heavy industry researchers:
- Growing use of sustainable energy: a major market driver
- In 2016, the public and commercial buildings segment dominated the global zero-energy buildings market, accounting for a share of around 82%.
- EMEA dominated the global zero-energy buildings market with close to 39% share in 2016
- Daikin Industries, GE, Honeywell International, Schneider Electric, and Siemens are the leading players in the market
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Growing use of sustainable energy: a major market driver
Growing use of sustainable energy is one of the major factors driving the global zero-energy buildings market. Fossils fuels are gradually losing preference as a source of primary energy due to their limited supply and their detrimental impact on the environment. The demand for energy will be unmet because of the lack of fossil fuels. The amount of fossil fuel present is uncertain. But, the number of proven reserves can be determined. Proven reserves are the quantity of fossil fuels that are available for extraction. Fossil fuel resources are finite and might allow the human societies to sustain for approximately another two centuries. The use of fossil fuel is also hazardous for human health and the environment as emissions from coal-fired power plants include particulate matter and mercury that cause fatal illnesses among the vulnerable population such as the children and the elderly.
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EMEA: largest zero-energy buildings market
The market in EMEA is expected to witness significant development during the forecast period. This is due to the high demand for photovoltaic (PV) installations from power utilities and residential sectors, which are the major end-users of solar power systems in the region. Advances in technology are attracting the interest of many vendors. Most projects are undertaken by countries such as Belgium, Denmark, Greece, and the UK. This is because of the favorable government policies such as providing incentives or subsidies along with the existing feed-in tariff for standalone solar photovoltaic systems.
According to Gaurav Mohindru, a lead analyst at Technavio for research onconstruction, “Third-party financing such as power purchase agreements allow customers to own solar PVs without requiring high initial investments. Increased awareness and growing concerns about energy use by end-users have contributed to the market growth in the region. As per the European Commission, buildings account for 40% of the energy use across the globe. Therefore, the use of solar PVs has significant savings potential and will aid in achieving the goal of reduced CO₂ emissions by 20% and accomplishing 20% renewable generation by 2020.”
Competitive vendor landscape
The global zero-energy buildings market is marked by the presence of both global and local vendors that provide products and services. Country-specific socioeconomic conditions and policies are the deciding factors for the growth of the market. The market is expected to grow significantly over the forecast period which will provide high opportunities for the global vendors. A few major global vendors in the market are Daikin Industries, GE, Honeywell International, Schneider Electric, and Siemens. Some of the other prominent vendors in the market are altPOWER, Altura Associates, Canadian Solar, Centrosolar America, and Danfoss.
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