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Energy Retrofit Systems Market Size, Share & Trends Analysis Report By Application (Residential, Non-residential), By Product (LED Retrofit Lighting, Envelope), By Region (Europe, APAC), and Segment Forecasts, 2020-2028

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    Report

  • 80 Pages
  • October 2021
  • Region: Global
  • Grand View Research
  • ID: 5457627
Description Jump to:
The global energy retrofit systems market size is expected to reach USD 203.12 billion by 2028. The market is expected to grow at a CAGR of 4.5% from 2020 to 2028. Increasing demand for renewable energy is expected to drive the market over the forecast period. The growing concerns about Greenhouse Gas (GHG) emissions and strict regulations to decrease carbon footprint are also projected to be the key factors driving the global market.

The economic crisis following the COVID-19 pandemic has led to a significant decline in investments for new energy-efficient buildings and equipment. In commercial and residential buildings, the energy-efficient systems, such as LED retrofit lighting, HVAC retrofit, insulation & glazing retrofit of windows, and retrofit of roofing, are primarily used to have a distributed generation of electricity to reduce the operational costs.

The COVID-19-imposed lockdown, which compelled most industries around the world to halt their production, resulted in reduced investments in overall energy efficiency systems by 9% in 2020. During the pandemic, people across major economies reduced visits to workplaces by over 60% as of April 2020, which led to a decrease in the consumption of electricity in commercial buildings. For instance, as per IEA, in the U.S., the average residential electricity consumption increased by 30% in April 2020, followed by a decline in the use of electricity in commercial buildings.

The growing installation of energy systems, along with the widespread accessibility of smart devices, has formed room for new business models to arise in the electricity sector due to a rise in demand for energy across the world. The energy-related needs of consumers in the residential, commercial, and industrial sectors are increasing day by day. In the case of residential consumers, the availability of smart home devices has enabled continuous monitoring of power consumption. These factors are anticipated to drive the market during the forecast period.

Energy Retrofit Systems Market Report Highlights

  • The envelope product segment accounted for the maximum revenue share of more than 51% of the global market in 2020 and will expand further at a steady CAGR over the forecast period.
  • The non-residential application segment dominated the global market in 2020 accounting for the maximum revenue share.
  • Europe was the dominant regional market in 2020, in terms of revenue share due to the increased population and high demand for efficient &clean energy.
  • Moreover, the European region has been very active in using R&D for clean and efficient energy generation.
  • The availability of funding in the European Union for energy conservation and energy efficiency projects has also been one of the major factors driving the regional market growth.
  • Various strategic initiatives by key companies were recorded over the past few years. For instance, in May 2021, Johnson Controls announced that it selected an environmentally sustainable R-454B as the future refrigerant for HVAC equipment and air-cooled scroll chillers.

Table of Contents

Chapter 1 Methodology & Scope
1.1 Market Segmentation & Scope
1.2 Market Definition
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 Internal Database
1.3.3 Secondary Sources
1.3.4 Third-Party Perspective
1.3.5 Primary Research
1.4 Information Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation and Data Visualization
1.6 Data Validation and Publishing
Chapter 2 Executive Summary
2.1 Market Summary
Chapter 3 Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Energy Generation Market Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Industry value chain analysis
3.4 Technology Overview
3.5 Regulatory Framework
3.5.1 Standards & Compliances
3.6 Market Dynamics
3.6.1 Market Driver Analysis
3.6.1.1 Need to improve energy efficiency
3.6.1.2 Rising energy consumption
3.6.1.3 Regulatory mandates and incentive programs
3.6.2 Market Restraint Analysis
3.6.2.1 Longer payback period and hidden costs
3.6.3 Industry Challenges
3.7 Business Environment Analysis: Energy Retrofit Systems Market
3.7.1 Energy Retrofit Systems Industry Analysis - Porter’s
3.7.2 Energy Retrofit Systems Industry Analysis - PESTEL analysis
3.8 Impact of Corona Virus on Energy Retrofit Systems Market
3.9 Challenges
3.10 Impact Verdict - Medium
Chapter 4 Global Energy Retrofit Systems Market: Product Estimates & Trend Analysis
4.1 Global Energy Retrofit Systems Market: Product Movement Analysis, 2020 & 2028
4.2 Market size & forecasts and trend analysis, 2020 to 2028 for the following:
4.1.1 Envelope
4.2.1.1 Global energy retrofit systems market estimates and forecasts, by envelope, 2017 - 2028 (USD Billion)
4.1.2 LED Retrofit Lighting
4.2.1.2 Global Energy retrofit Systems market estimates and forecasts, by LED Retrofit lighting, 2017 - 2028 (USD Billion)
4.1.3 HVAC Retrofit
4.2.1.3 Global energy retrofit systems market estimates and forecasts, by HVAC retrofit, 2017 - 2028 (USD Billion)
4.1.4 Appliances
4.2.1.4 Global energy retrofit systems market estimates and forecasts, by Appliances, 2017 - 2028 (USD Billion)
Chapter 5 Global Energy Retrofit Systems Market: Application Estimates & Trend Analysis
5.1 Global Energy Retrofit Systems Market: Application Movement Analysis, 2020 & 2028
5.2 Market size & forecasts and trend analysis, 2020 to 2028 for the following:
5.2.1 Residential
5.2.1.1 Global Energy Retrofit Systems market estimates and forecasts, by Residential Application, 2017 - 2028 (USD Billion)
5.2.2 Non-Residential
5.2.2.1 Global Energy Retrofit Systems market estimates and forecasts, by Non-Residential Application, 2017 - 2028 (USD Billion)
Chapter 6 Global Energy Retrofit Systems Market: Regional Estimates & Trend Analysis
6.1 Global Energy Retrofit Systems Market: Regional Movement Analysis, 2020 & 2028
6.2 North America
6.2.1 North America Energy Retrofit Systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.2.2 North America energy retrofit systems market estimates and forecasts, by Application 2017 - 2028 (USD Billion)
6.2.3 U.S.
6.2.3.1 U.S. energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.2.3.2 U.S. energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
6.2.4 Canada
6.2.4.1 Canada energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.2.4.2 Canada energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
6.2.5 Mexico
6.2.5.1 Mexico energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.2.5.2 Mexico energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
6.3 Europe
6.3.1 Europe Energy Retrofit Systems market estimates and forecasts, by Product 2017-2028 (USD Billion)
6.3.2 Europe energy retrofit systems market estimates and forecasts, by Application 2017-2028 (USD Billion)
6.3.3 Germany
6.3.3.1 Germany energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.3.3.2 Germany energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
6.3.4 Russia
6.3.4.1 Russia energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.3.4.2 Russia energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
6.3.5 U.K.
6.3.5.1 U.K. energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.3.5.2 U.K. energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
6.3.6 Spain
6.3.6.1 Spain energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.3.6.2 Spain energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
6.3.7 Italy
6.3.7.1 Italy energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.3.7.2 Italy energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
6.3.8 France
6.3.8.1 France energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.3.8.2 France energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
6.4 Asia Pacific
6.4.1 Asia Pacific Energy Retrofit Systems market estimates and forecasts, by Product 2017-2028 (USD Billion)
6.4.2 Asia Pacific energy retrofit systems market estimates and forecasts, by Application 2017-2028 (USD Billion)
6.4.3 China
6.4.3.1 China energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.4.3.2 China energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
6.4.4 Japan
6.4.4.1 Japan energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.4.4.2 Japan energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
6.4.5 South Korea
6.4.5.1 South Korea energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.4.5.3 South Korea energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
6.4.6 India
6.4.6.2 India energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.4.6.3 India energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
6.4.7 Australia
6.4.7.1 Australia energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.4.7.2 Australia energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
6.5 Central & South America
6.5.1 Central & South America Energy Retrofit Systems market estimates and forecasts, by Product 2017-2028 (USD Billion)
6.5.2 Central & South America energy retrofit systems market estimates and forecasts, by Application 2017-2028 (USD Billion)
6.5.3 Brazil
6.5.3.1 Brazil energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.5.3.2 Brazil energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
6.5.4 Colombia
6.5.4.1 Colombia energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.5.4.3 Colombia energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
6.5.5 Paraguay
6.5.5.1 Paraguay energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.5.5.3 Paraguay energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
6.6 Middle East & Africa
6.6.1 Middle East & Africa Energy Retrofit Systems market estimates and forecasts, by Product 2017-2028 (USD Billion)
6.6.3 Middle East & Africa energy retrofit systems market estimates and forecasts, by Application 2017-2028 (USD Billion)
6.6.4 Saudi Arabia
6.6.4.1 Saudi Arabia energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.6.4.2 Saudi Arabia energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
6.6.5 UAE
6.6.5.1 UAE energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.6.5.2 UAE energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
6.6.6 South Africa
6.6.6.1 South Africa energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.6.6.3 South Africa energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
6.6.7 Egypt
6.6.7.1 Egypt energy retrofit systems market estimates and forecasts, by Product, 2017 - 2028 (USD Billion)
6.6.7.2 Egypt energy retrofit systems market estimates and forecasts, by application, 2017 - 2028 (USD Billion)
Chapter 7 Global Energy Retrofit Systems Market - Competitive Landscape
7.1 Key Global Players, Recent Market Developments & Their Impact on the Industry
7.2 Vendor Landscape
7.2.1 Company Market Position Analysis
Chapter 8 Company Profiles
8.1 DAIKIN INDUSTRIES, Ltd.
8.1.1 Company Profiles
8.1.2 Financial Performance
8.1.3 Product Benchmarking
8.2 Ameresco
8.2.1 Company Overview
8.2.2 Financial Performance
8.2.3 product benchmarking
8.2.4 strategic initiatives
8.3 Eaton
8.3.1 Company Overview
8.3.2 Financial Performance
8.3.3 product benchmarking
8.4 AECOM
8.4.1 Company Overview
8.4.2 Financial Performance
8.4.3 product benchmarking
8.5 Johnson Controls
8.5.1 Company Overview
8.5.2 Financial Performance
8.5.3 Product Benchmarking
8.5.4 strategic initiatives
8.6 Orion Energy Systems Inc.
8.6.1 Company Overview
8.6.2 Financial Performance
8.6.3 product benchmarking
8.6.4 strategic initiatives
8.7 Siemens
8.7.1 Company Overview
8.7.2 Financial Performance
8.7.3 Product Benchmarking
8.8 Trane
8.8.1 Company Overview
8.8.2 Product Benchmarking
8.9 Signify Holding
8.9.1 Company Overview
8.9.2 Financial Performance
8.9.3 Product Benchmarking
8.9.4 Strategic Initiatives
8.10 Engie
8.10.1 Company Overview
8.10.2 Financial Performance
8.10.3 Product Benchmarking
8.10.4 Strategic Initiatives
8.11 GENERAL ELECTRIC
8.11.1 Company overview
8.11.2 Financial Performance
8.11.3 Product Benchmarking
8.12 Schneider Electric
8.12.1 Company Overview
8.12.2 Financial Performance
8.12.3 Product Benchmarking
8.12.4 Strategic Initiatives
List of Tables
Table 1 Mandates and Incentive Programs.
Table 2 Global energy retrofit systems market estimates and forecasts, by envelope, 2017-2028 (USD Billion)
Table 3 Global energy retrofit systems market estimates and forecasts, by LED Retrofit, 2017-2028 (USD Billion)
Table 4 Global energy retrofit systems market estimates and forecasts, by HVAC Retrofit, 2017-2028 (USD Billion)
Table 5 Global energy retrofit systems market estimates and forecasts, by appliances, 2017-2028 (USD Billion)
Table 6 Global Energy Retrofit Systems market estimates and forecasts, by residential application, 2017-2028 (USD Billion)
Table 7 Global Energy Retrofit Systems market estimates and forecasts, by non-residential application, 2017-2028 (USD Billion)
Table 8 North America energy retrofit systems market, by product, 2017–2028 (USD Billion)
Table 9 North America energy retrofit systems market, by application, 2017–2028 (USD Billion)
Table 10 U.S. energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 11 U.S. energy retrofit systems market, by application, 2017-2028 (USD Billion)
Table 12 Canada energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 13 Canada energy retrofit systems market, by application, 2017-2028 (USD Billion)
Table 14 Mexico energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 15 Mexico energy retrofit systems market, by application, 2017-2028 (USD Billion)
Table 16 Europe energy retrofit systems market, by product, 2017–2028 (USD Billion)
Table 17 Europe energy retrofit systems market, by application, 2017–2028 (USD Billion)
Table 18 Germany energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 19 Germany energy retrofit systems market, by application, 2017-2028 (USD Billion)
Table 20 Russia energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 21 Russia energy retrofit systems market, by application, 2017-2028 (USD Billion)
Table 22 U.K. energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 23 U.K. energy retrofit systems market, by application, 2017-2028 (USD Billion)
Table 24 Spain energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 25 Spain energy retrofit systems market, by application, 2017-2028 (USD Billion)
Table 26 Italy energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 27 Italy energy retrofit systems market, by application, 2017-2028 (USD Billion)
Table 28 France energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 29 France energy retrofit systems market, by application, 2017-2028 (USD Billion)
Table 30 Asia Pacific energy retrofit systems market, by product, 2017–2028 (USD Billion)
Table 31 Asia Pacific energy retrofit systems market, by application, 2017–2028 (USD Billion)
Table 32 China energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 33 China energy retrofit systems market, by application, 2017-2028 (USD Billion)
Table 34 Japan energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 35 Japan energy retrofit systems market, by application, 2017-2028 (USD Billion)
Table 36 South Korea energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 37 South Korea energy retrofit systems market, by application, 2017-2028 (USD Billion)
Table 38 India energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 39 India energy retrofit systems market, by application, 2017-2028 (USD Billion)
Table 40 Australia energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 41 Australia energy retrofit systems market, by application, 2017-2028 (USD Billion)
Table 42 Central & South America energy retrofit systems market, by product, 2017–2028 (USD Billion)
Table 43 Central & South America energy retrofit systems market, by application, 2017–2028 (USD Billion)
Table 44 Brazil energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 45 Brazil energy retrofit systems market, by application, 2017-2028 (USD Billion)
Table 46 Colombia energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 47 Colombia energy retrofit systems market, by application, 2017-2028 (USD Billion)
Table 48 Paraguay energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 49 Paraguay energy retrofit systems market, by application, 2017-2028 (USD Billion)
Table 50 Middle East & Africa energy retrofit systems market, by product, 2017–2028 (USD Billion)
Table 51 Middle East & Africa energy retrofit systems market, by application, 2017–2028 (USD Billion)
Table 52 Saudi Arabia energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 53 Saudi Arabia energy retrofit systems market, by application, 2017-2028 (USD Billion)
Table 54 UAE energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 55 UAE energy retrofit systems market, by application, 2017-2028 (USD Billion)
Table 56 South Africa energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 57 South Africa energy retrofit systems market, by application, 2017-2028 (USD Billion)
Table 58 Egypt energy retrofit systems market, by product, 2017-2028 (USD Billion)
Table 59 Egypt energy retrofit systems market, by application, 2017-2028 (USD Billion)
List of Figures
Fig. 1 Energy Retrofit Systems Market Segmentation
Fig. 2 Information procurement
Fig. 3 Primary research pattern
Fig. 4 Primary research process
Fig. 5 Market research approaches-Bottom-Up Approach
Fig. 6 Market research approaches-Top-Down Approach
Fig. 7 Market research approaches-Combined Approach
Fig. 8 Energy Retrofit Systems Market snapshot, 2020 (USD Billion)
Fig. 9 Global energy generation, 2020 (TWh)
Fig. 10 Energy Retrofit Systems Market-Penetration & growth prospect mapping
Fig. 11 Energy Retrofit Systems Market-Industry value chain analysis
Fig. 12 Marker driver impact analysis
Fig. 13 Global Electricity Consumption (TWh)
Fig. 14 Market restrain impact analysis
Fig. 15 Energy Retrofit Systems market analysis-Porter’s
Fig. 16 Energy Retrofit Systems market analysis-PESTEL analysis
Fig. 17 Global Energy Retrofit Systems Market-Product movement analysis, 2020 & 2028 (USD Billion)
Fig. 18 Energy retrofit Systems market-Application movement analysis, 2020 & 2028 (USD Billion)
Fig. 19 Global Energy Retrofit Systems market-Regional movement analysis, 2020 & 2028 (USD Billion)
Fig. 20 Four quadrant positioning of vendors

Companies Mentioned

  • DAIKIN INDUSTRIES, Ltd.
  • Ameresco
  • Eaton
  • AECOM
  • Johnson Controls
  • Orion Energy Systems Inc.
  • Siemens
  • Trane
  • Signify Holding
  • Engie
  • GENERAL ELECTRIC
  • Schneider Electric

Methodology

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Table Information

Report AttributeDetails
No. of Pages80
PublishedOctober 2021
Forecast Period2021 - 2028
Estimated Market Value ( USD ) in 2021 $ 145.74 billion
Forecasted Market Value ( USD ) by 2028 $ 203.12 billion
Compound Annual Growth Rate4.9%
Regions CoveredGlobal
No. of Companies Mentioned12

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