KUALA LUMPUR, Malaysia, July 13, 2016 /PRNewswire/ -- The market for energy efficiency may have slowed a bit in the industrial sector but in the transport and building sectors, it is all set to grow sharply. With building energy consumption accounting to approximately 40 percent of the total energy consumed in both Europe and North America, the building sector is garnering significant attention from policy makers and technology developers. Similarly, the intensifying demand for fuel efficiency and better road, air and seaway connectivity has necessitated superior machine handling and operation, driving the adoption of energy-efficient engines and vehicles.
New analysis from Frost & Sullivan, Energy Efficiency in Transport, Buildings and Industry (http://www.frost.com/sublib/display-report.do?id=D6B5-01-00-00-00&src=PR), finds that governments globally are actively promoting energy efficiency through programs such as star rating for equipment and designing of energy efficient buildings. They have also introduced numerous policies mandating low energy consumption and are conducting awareness campaigns for their citizens.
For complimentary access to more information on this research, please visit: http://corpcom.frost.com/forms/APAC_PR_CLow_D6B5_28Jun16.
Energy efficiency initiatives enjoy considerable government support all over the world, which is evident from the roll out of programs such as the ecoENERGY Efficiency for Industry program in Canada, Low Energy Apartment Futures (LEAF) in Europe and China Utility-Based Energy Efficiency Finance Program (CHUEE) in China. Most of the government programs provide tax incentives and grants to industrial participants as well as the citizens.
"Countries such as Singapore, the US, India and Canada have specific home and building energy programs. Building energy efficiency and management technologies have benefitted greatly from the government programs and schemes," said TechVision Research Analyst Guhan Sriram R V. "However, it is vehicle efficiency that is gaining the attention of technology developers and government bodies. A considerable portion of the funds is directed towards vehicle and engine efficiency. Canada, Europe and the US have a lot of programs targeted at improving vehicle efficiency."
Urbanization has caused an increase in the number of commercial and light duty vehicles, which obviously, have absorbed a sizable portion of the investments made to improve fuel efficiency. Another outcome of the urbanization is the growing interest towards smarter and energy efficient buildings. Most of the innovations would be towards automation and better equipment control. Building materials, air handling units and building temperature control are few areas those hold the key to improve energy efficiency in buildings.
"The Southeast Asian nations are emerging as a highly enthusiastic set of adopters of energy-efficient products," noted Sriram. "In the future, better energy policies and sizable funding are likely to attract investors and new technologies to this region."
Energy Efficiency in Transport, Buildings and Industry, part of the TechVision (Sustainable Energy) subscription, analyzes the adoption of energy efficiency solutions in the three major market segments: transportation, buildings and industries. The analysis is based on six dimensions: intellectual property analysis, funding, market potential, impact of Mega Trends, region-wise adoption and sector-wise adoption.
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Energy Efficiency in Transport, Buildings and Industry
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SOURCE Frost & Sullivan