The Market for Energy Efficiency Retrofits in Commercial Buildings Will Nearly Double by 2020, Reaching $152 Billion Worldwide

July 9, 2012

Efforts to retrofit commercial and public buildings to make them more energy-efficient have many different drivers, including a sense of social responsibility to reduce greenhouse gases (GHGs) and carbon footprints, an attempt to retain tenants and gain a market edge in a competitive building market, and, above all, the desire to reduce operational costs by reducing energy consumption.  Regardless of the motivation, energy efficiency retrofits represent a rapidly growing market that will benefit the environment, building owners, tenants, and communities alike.  According to a new report from Pike Research, this global market will expand from $80.3 billion in 2011 to $151.8 billion by 2020.

“Retrofitting existing buildings offers one of the most cost-effective ways for a business to reduce its operating expenses,” says senior analyst Eric Bloom.  “Many energy conservation measures can be implemented within strict investment criteria, and a growing number of financial instruments are deepening the scope of energy efficiency retrofits, driving continued investment in energy efficient HVAC, lighting, and control systems.”

Western Europe will remain the largest market for energy efficiency retrofits in commercial and public buildings, but its share of world revenues will drop from 41% in 2011 to 37% in 2020.  Essentially equaling Western Europe, Asia Pacific, which represented 32% ($26 billion) of the revenue stream in 2011, will increase to 36% ($54.6 billion) by 2020.  North American energy efficiency revenues will more than double over the remainder of the decade, increasing to $35.3 billion by 2020.

Pike Research’s report, “Energy Efficiency Retrofits for Commercial and Public Buildings”, examines the global market landscape for energy efficiency retrofits in commercial and public buildings, including analysis and forecasts for eight different building types as well as eight product and service categories. The report covers key industry drivers by world region including regulatory and policy factors as well as market-based factors and economic considerations.  More than 50 industry players are profiled in depth and energy efficiency retrofit revenue forecasts, segmented by world region and key countries, extend through 2020.  An Executive Summary of the report is available for free download on the firm’s website.

Contact: Richard Martin

+1 303 997 7609

press@navigantresearch.com

Register to Receive Updates

Sign up or login to receive free newsletters, research updates, access to webinars, and other analyst content from Navigant Research.

Research News

Rss
Worldwide Capacity of Next-Generation Advanced Batteries Is Expected to Increase Nearly 1,000-Fold by 2023
September 22, 2014New chemistries offer higher energy densities and lower price points, report finds • A recent report from Navigant Research analyzes the global market for next-generation advanced batteries,…
Read More »
Energy Storage for the Grid is Expected to Reach $15.6 Billion in Annual Revenue by 2024
September 18, 2014Technology vendors are moving down the supply chain to supply deployment solutions, report concludes • A new report from Navigant Research analyzes the global market for utility-scale energy storage…
Read More »
Demand Response Capacity is Expected to Increase More than Six-Fold by 2023
September 17, 2014Market rules changes could place more risk on DR resources, report concludes • A new report from Navigant Research examines the global DR market with a focus…
Read More »
Homeowners Are Expected to Invest More Than $625 Billion in Residential Generation and Storage from 2014 to 2023
September 16, 2014The residential generation market is likely to expand as DER technologies mature, report concludes • Innovations in renewable distributed power generation, along with attractive new financing mechanisms, are providing…
Read More »
View All News

{"userID":"","pageName":"The Market for Energy Efficiency Retrofits in Commercial Buildings Will Nearly Double by 2020, Reaching $152 Billion Worldwide","path":"\/newsroom\/the-market-for-energy-efficiency-retrofits-in-commercial-buildings-will-nearly-double-by-2020-reaching-152-billion-worldwide","date":"9\/23\/2014"}