Zero-energy Buildings Market to increase by USD 172.65 billion from 2023 to 2028; Increased need for cost reduction of energy to drive the growth - Technavio

NEW YORK, Dec. 7, 2023 /PRNewswire/ -- The zero-energy buildings market size is expected to grow by USD 172.65 billion from 2023 to 2028. However, the growth momentum of the market will decelerate at a CAGR of  23.51% during the forecast period. The market is segmented by Application (Public and commercial buildings and Residential buildings), Product (HVAC and controls, Insulation and glazing, Lighting and controls, and Water heating), and Geography (North America, APAC, Europe, Middle East and Africa, and South America).

The increased need for cost reduction of energy is notably driving the market growth. Manufacturing plants, commercial buildings, and healthcare facilities are the most energy-intensive end-users. They need to operate continuously and use various equipment for their in-house operations, which requires a significant amount of electricity and adds to their overall energy costs. 

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Key Highlights:

• The report recognizes the following as some of the key players in the zero-energy buildings market: altPOWER Inc., Altura Associates, Canadian Solar Inc., Daikin Industries Ltd., Danfoss AS, ertex solar, First Solar Inc., General Electric Co., Heliatek GmbH, Honeywell International Inc., Johnson Controls International Plc, Kingspan Group Plc, Mahindra and Mahindra Ltd., Schneider Electric SE, Siemens AG, TotalEnergies SE, Trane Technologies plc, Trina Solar Co. Ltd., Wuxi Suntech Power Co. Ltd., and Yingli Green Energy Holding Co. Ltd.
• Zero-energy Buildings Market is fragmented in nature.
• Market to observe 25.27% YOY growth in 2024.

Market Dynamics:

Trend & Challenges

Increasing net-zero buildings is an emerging trend shaping the market growth. The World Green Building Council (WGBC) has recently announced its plan to achieve 100% net-zero buildings by 2050 through the Net Zero initiative. The WGBC has chosen Australia, Brazil, Canada, Germany, India, the Netherlands, South Africa, and Sweden as pilot sites for developing net-zero certifications for existing and new buildings. 

The low conversion efficiency of solar photovoltaic (PV) is a significant challenge hindering market growth. Solar photovoltaic (PV) systems convert around 12% to 16% of the sunlight into usable energy. Despite technological advancements, this conversion rate is still lower than conventional fossil fuel energy generation levels. The type of PV used also plays a crucial role in energy generation. Monocrystalline silicon PV is the most efficient type, accounting for around 15% of energy conversion. 

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Keg Segments:

• The market share growth by the public and commercial buildings segment will be significant during the forecast period. The market for public and commercial buildings is expected to experience significant growth, largely due to the increasing need to reduce energy consumption costs. Governments around the world are implementing regulatory and policy measures to encourage the development of zero-energy buildings, with a particular focus on the segments. Commercial buildings consume a large amount of energy due to the extensive use of HVAC, water heating, and lighting systems.

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Related Reports:

The solid oxide fuel cells market size is forecast to increase by 191.34 MW and is estimated to grow at a CAGR of 19.46% between 2023 and 2027.  

The solar shingles market share is expected to increase to USD 618.91 million from 2021 to 2026, and the market's growth momentum will decelerate at a CAGR of 5.2%. 

ToC:

Excustive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application 

Market Segmentation by Product 

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio