The global building retrofitting market is anticipated to register an impressive CAGR in the forecast period, 2023-2027. Factors such as the dependance of the construction industry on energy and the continuous growth of the construction industry are primarily driving the demand for the global building retrofitting market. Also, the growing focus of government authorities on promoting sustainable activities and energy efficiency and the emergence of new market players is expected to propel the demand for the global building retrofitting market over the next five years.
Growing Importance of Effective Energy Utilization in Buildings Drives the Market Demand
The ongoing construction activities use advanced materials, equipment, and technologies to strengthen and stabilize the buildings. The new buildings are built with modern construction materials, which increases the life of the buildings. Currently, the massive number of buildings present around the world are expected to last for another 30 years. The construction industry accounts for about half of the energy usage worldwide. Building retrofitting offers the opportunity to install distributed energy generation in the building. It upgrades the energy performance of any commercial building assets, increases energy efficiency, and reduces energy bills. Building retrofitting is considered beneficial both for the building owner and the resident. The building owner can improve the performance of the commercial buildings and provide an enhanced living experience to the building owners. While the residents can significantly lower their money spent on energy expenditure. Also, the government of several countries is encouraging the adoption of energy efficiency measures which is expected to fuel the demand for building retrofitting systems across the globe in the coming years.
Supportive Government Policies Expected to Boost the Market Demand
Building retrofitting systems are used in commercial and residential buildings to lower energy usage and save around 10-40% of the energy consumed by buildings. This is the major reason building retrofitting systems are promoted by the government bodies, financial institutions, and policy framework models to cover more buildings with retrofitting and increase the life and energy efficiency of the building. Such as, in the Netherlands, the government has implemented strict regulations to make it necessary for the office buildings to meet the building performance level C in 2023 and performance level A by 2030. Also, the EU emission trading provides funds or revenue to encourage investments in building retrofit systems which are expected to propel the demand for the global building retrofitting market over the next five years.
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Market Segmentation
Market Players
ARUP, Integrated Environmental, Q-BOT, Inovues, SGS, Ventive Limited, Project Drawdown, and TerOpta Limited, are the major market players operating in the global building retrofitting market.
| Attribute | Details |
| Base Year | 2024-2032 |
| Historic Data | 2024-2032 – 2024-2032 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2024-2032-2024-2032 and 2022-2027 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | · Building Type · Type · Method |
| Regional scope | North America; Asia Pacific; Europe; South America; Middle East & Africa |
| Country scope | United States; Canada; Mexico; China, India, Japan, Thailand, Indonesia, Australia, South Korea; Germany, France, United Kingdom, Spain, Italy, Netherlands, Russia, Poland; Brazil, Argentina; Saudi Arabia, Iran, Israel, UAE, Turkey |
| Key companies profiled | ARUP, Integrated Environmental, Q-BOT, Inovues, SGS, Ventive Limited, Project Drawdown, TerOpta Limited |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
