Energy Retrofit System Market By Product (LED Retrofit Lighting, HVAC Retrofit), By Application (Residential Buildings, Non-Residential Buildings), By Technology (HVAC and Controls, Insulation and Glazing, Lighting and Controls, Water Heating), By Company, By Region, Forecast & Opportunities, 2027

Global energy retrofit system market is expected to grow at a significant rate during the forecast period on account of rise in consumer preference shift towards adoption of renewable energy sources. Also, the benefits of reduction in electricity bills and lower per capita carbon emission contribution to the environment are the other two significant factors aiding in the growth of the global energy retrofit system market. Increase in demand for HVAC systems in residential as well as commercial sectors is on rise and shelf life of these electrical appliances is average and need continuous upgradation to maintain output efficiency.

Integration of energy retrofit systems with existing appliances helps in reducing electricity bills. Rapid urbanization and industrialization observed around the globe is creating lucrative opportunities for the growth of the energy retrofit systems. Expensive nature of conventional fuel and high-energy consumption by end uses creates lucrative opportunities for the growth of the global energy retrofit system market.

Global energy retrofit system market is segmented into based on product, application, technology, region, and company

Asia-Pacific is expected to witness fastest incremental growth during the next five years, on account of stringent government policies and incentives to encourage adoption of environment-friendly energy in China is a major factor for growth of the global retrofit system market. Increase in construction activities instilled with three-star rating systems and replacement of the existing system with new energy efficient system is another factor for the market growth. Cheaper infrastructure and lower cost are the other factors boosting the growth of the global energy retrofit system.

The major players operating in the global energy retrofit system market are Daikin Industries, Ltd., Orion Energy Systems, Inc., Siemens Building Technology, E.ON Energy Services, Ameresco, Inc., Energy Retrofit Co., Eaton Corporation, AECOM Energy, Johnson Controls International plc, Chevron Corporation, and others. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.

Objective of the Study

• To analyze and estimate the market size of global energy retrofit system market from 2017 to 2020.
• To estimate and forecast the market size of global energy retrofit system from 2021 to 2027 and growth rate until 2027.
• To classify and forecast global energy retrofit system based on product, application, technology, region, and company.
• To identify dominant region or segment in the global energy retrofit system.
• To identify drivers and challenges for global energy retrofit system.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global energy retrofit system.
• To identify and analyze the profile of leading players operating in global energy retrofit system.
• To identify key sustainable strategies adopted by market players in global energy retrofit system market.

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Market insights research performed both primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of manufacturers across the globe. Subsequently, Market insights research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market insights research could include the manufacturers which could not be identified due to the limitations of secondary research. Market insights research analyzed the manufacturers, distribution channels and presence of all major players across the globe.

Market insights research calculated the market size of

Key Target Audience

• Energy retrofit system manufacturing companies
• Market research and consulting firms
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to mining equipment

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.