Navigant expects market for energy efficient building products/services to grow
March 4, 2015 - A recent report from Navigant Research has found the revenue from energy efficient building products and services is expected to total more than $4.3 billion from 2015 to 2023.
By Renée Francoeur
The report, “Energy Efficient Buildings: Global Outlook,” analyzes the global market for commercial building energy efficient products and services. It found the global market for energy efficient building products and services is expected to grow from $307.3 billion in 2014 to $623 billion in 2023.
“Energy efficiency measures are becoming increasingly mainstream,” said Noah Goldstein, research director with Navigant Research. “Governments are introducing policies to promote energy efficiency through incentives, prescriptive measures, and building codes, and green building certification has shifted from a leading-edge practice to a mainstream concept in commercial real estate markets—so much so that it’s becoming the de facto standard in some cities.”
Building envelope technologies, including building materials, represent the largest energy efficient building market segment, according to the report. In the coming years mechanical and electrical systems, such as HVAC, lighting, and controls, are expected to gain increasing market share, Navigant Research states. The energy efficient building ecosystem is “maturing and expanding in all sectors,” the report goes on to say, incorporating utilities, new demand-management players, and facility managers.
The report summarizes the market drivers and barriers for energy efficient products and services, including the services provided by energy service companies (ESCOs) through energy performance contracting, across the policy and technology landscape in seven regions. It also examines the key technologies related to energy efficient building products and services, as well as the competitive landscape.