NEW YORK, Jan. 6, 2016 /PRNewswire/ -- Energy Efficiency in Transport, Buildings and Industry (TechVision) : Six-Dimensional Analysis of Adoption of Energy Efficiency in Industries, Buildings and Transport
Energy Efficiency is the global buzzword at present. It corresponds to addressing the losses associated with energy consumption. Before the 1990s, industries were known as the most energy consuming sector followed by transportation. Only in the recent past have governments started considering domestic and commercial sector for energy conservation and efficiency. Various policies and laws have been framed that instruct efficient practices. This report aims to analyze the adoption of energy efficiency in the three major market segments for energy efficiency; transportation, buildings, and industries. The analysis is based on six dimensions; IP analysis, funding, market potential, impact of Megatrends, region-wise adoption, and sector-wise adoption.
Energy Efficiency in Industries
Industries are one of the oldest sectors to have adopted energy efficiency technologies. It is comparatively a mature market when compared to the transport or building sector. Adoption of energy efficiency initiatives across industries has been high and will continue to be so. The industrial energy efficiency market is estimated to be one tenth of the entire market size. The recent focus on fuel efficient transportation and building efficiency along with the early adoption of industrial efficiency practices are the reasons contributing to market size reduction.
- Though the majority of funding for industrial efficiency comes from private participants and plant owners, they are supported by tax incentives and subsidy grants from governments. For example, the ecoENERGY Industrial Program of Canada and the GREET program of Singapore provide such incentives.
- ARPA-E of USA and the BEE of India are involved in developing new programs and technologies for energy efficiency.
- Industrial energy efficiency market has reached the mature phase where drastic and exponential growth will be absent.
- It will continue to have this low yet consistent market share for the next eight to ten years given the surge seen in the building and the transport sector.
- The consistency in market sizing can be attributed to the investments made on retrofitting in industries and plants.
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