The Asia-Pacific energy retrofit systems market is expected to grow with a CAGR of 4.85% during the forecast period, 2022-2030, and is projected to reach $65.38 billion in revenue by 2030.

The energy retrofit systems refers to the measures used to renovate, retrofit, and refurbish infrastructure such as buildings, homes, offices, malls, etc. Asian countries such as Indonesia, China, India, etc., are some of the largest energy consumers and carbon emissions worldwide. Thus, the region has a greater need for energy efficiency measures and reforms. The market growth is also expected to be driven by government initiatives and programs focused on energy conservation and efficiency.

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The Asia-Pacific energy retrofit systems market growth assessment entails Japan, South Korea, China, India, Australia & New Zealand, Singapore, and Rest of Asia-Pacific. In China, energy efficiency and conservation will play a major role as the government has pledged to achieve carbon neutrality in the coming years. Also, as China is the world’s largest carbon emission country, its role is important in achieving global warming challenges. In March 2021, the government of China presented its 14th five-year plan where it set a target reduction of 18% for “CO2 intensity” and 13.5% for “energy intensity” between 2021 and 2025. The plan will accelerate the growth of energy retrofit systems nationally.

On the other hand, Japan plans to establish long-term goals through 2050, indicating a decrease of 80% in greenhouse gas emissions as the primary goal and achieving an energy transition free of fossil fuels. The government hopes for scientific advancements in the fields of hydrogen, energy storage, and digital technology in this country. Thus, Japan is aggressive in applying its energy efficiency plan to achieve the pledge to reduce greenhouse gas emissions to net zero. The energy retrofit systems will play a major role in helping to achieve the objective, generating significant demand in the country.

In India, the Bureau of Energy Efficiency (BEE) has initiated energy efficiency interventions to encourage operational practices and energy-efficient technologies in SME sectors in selected SME clusters. In addition, through BEE, the Ministry of Power has initiated many energy efficiency initiatives in commercial buildings, household lighting, standards, and labeling of appliances demand-side management in SMEs, agriculture/municipalities, and large industries. The energy retrofit systems will play a major role owing to its application in various infrastructures, and thus the market is anticipated to surge in the country.

The Asia-Pacific energy retrofit systems market segmentation covers product and application. The market by product can be further segmented into the envelope, LED retrofit, HVAC retrofit, and appliances.

The building envelope is one of the most important variables influencing building energy usage because it divides the unconditioned outer environment from the conditioned interior space. The envelope is construction technologies that actively respond to the building’s exterior environment to produce comfortable rooms while reducing energy use. Thus, by reducing the amount of heat loss, buildings can reduce energy consumption and carbon footprint and lower electricity bills. Hence, such beneficial factors aid the growth of the global energy retrofit systems market by envelope.

Leading players operating in the Asia-Pacific energy retrofit systems market include Signify NV, Johnson Controls, Siemens, etc.

Signify NV divides its business into conventional products, digital solutions, and digital products. It offers conventional luminaires and light-emitting diode (LED), systems & services for various market segments comprising commercial buildings, offices, agriculture, hospitality, industry, shops, and outdoor environments. The company is headquartered in Eindhoven, the Netherlands, and operates mainly in Europe, North America, and other international markets.

Lightolier LED retrofit downlight, a key product of Signify NV, provides an easy and quick downlight solution without the traditional frame and reflector. It is used for existing ceilings or installation of new construction with the benefits of energy-saving LED technology.

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