Global Energy Market Expected to Reach $103.5 Billion by 2017
NEW YORK — The total market for energy efficiency in buildings is expected to reach more than $103.5 billion by 2017, an increase of more than 50 percent from the current market value of $67.9 billion, according to a new report from Pike Research.
The report, released in November, provides data on the size and growth of energy efficient building markets, with country-by-country analysis and forecast summaries that compare key markets for HVAC systems and energy efficient lighting.
Titled “Energy Efficient Buildings: Global Outlook,” the report includes ESCO revenues, energy efficient HVAC equipment sales, and energy efficient lighting sales from 2011 to 2017 and provides a qualitative description of key drivers and trends in energy efficiency in key commercial building markets.
The market for energy efficiency services and equipment is increasing as national governments look to reduce energy consumption by improving the efficiency of the building stock, according to the report. However, the structure of energy efficient building markets varies considerably throughout the world and vendors and service providers aiming to increase their coverage of energy efficiency markets must remain cognizant of the changing dynamics in order to maintain a strong presence.
Energy service companies (ESCOs) lead the energy efficiency industry for existing commercial buildings in many countries, using energy performance contracting and other financing mechanisms to install energy efficient equipment and kick-start ongoing energy efficiency services.
ESCO revenues are expected to double from $30.1 billion in 2011 to $66.0 billion worldwide by 2017, a compound annual growth rate of 14 percent.
Significant growth will also occur in the market for high-efficiency HVAC systems, which will expand from $3.1 billion to $6.4 billion during the same period, according to the report.
While the market for energy efficient equipment, is developing as green building trends increase in interest and the cost of efficient lighting technologies continues to decline, demand for these services and technologies depends on national policy, technology costs, and historical or cultural preferences at the regional and national levels.
The report targets energy service companies, building systems service providers, HVAC equipment providers, multinational corporations, government agencies, and architecture, engineering and construction firms, among others.
The report is available through http://www.reportlinker.com/p0690969-summary/Energy-Efficient-Buildings-Global-Outlook.html.