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ASIA-PACIFIC ENERGY RETROFIT SYSTEMS MARKET FORECAST 2022-2030

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ASIA-PACIFIC ENERGY RETROFIT SYSTEMS MARKET FORECAST 2022-2030

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.

ASIA-PACIFIC ENERGY RETROFIT SYSTEMS MARKET FORECAST 2022-2030

Asia-Pacific Energy Retrofit Systems Market by Product (Envelope, HVAC Retrofit, Led Retrofit, Appliances) Market by Application (Non-residential, Residential) By Geography

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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.

Asia Pacific Energy Retrofit Systems Market

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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.

REPORT SYNOPSIS

Report Scope Details
Market Forecast Years 2022-2030
Base Year 2021
Market Historical Years 2018-2021
Forecast Units Revenue ($ Billion)
Segments Analyzed Product, Application
Countries Analyzed Japan, South Korea, China, Singapore, India, Australia & New Zealand, and Rest of Asia-Pacific
Companies Analyzed

AECOM, Ameresco, Daikin Industries Ltd, Eaton Corporation PLC, ENGIE, General Electric, Johnson Controls, Orion Energy System Inc, Schneider Electric, Siemens, Signify NV, Trane Technologies PLC

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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • MARKET OVERVIEW
    3. MARKET DYNAMICS
      • KEY DRIVERS
        • RISE IN NET‐ZERO EMISSIONS PLEDGES
        • WORLDWIDE ENERGY CRISIS
      • KEY RESTRAINTS
        • HIGH PROJECT COSTS
        • CHALLENGES IN IMPLEMENTING THE RETROFIT SYSTEM IN DEVELOPING AND UNDERDEVELOPED NATIONS
        • LACK OF AWARENESS
    1. KEY ANALYTICS
      • IMPACT OF COVID-19 ON ENERGY RETROFIT SYSTEMS MARKET
      • KEY MARKET TRENDS
      • PORTER’S FIVE FORCES ANALYSIS
        • BUYERS POWER
        • SUPPLIERS POWER
        • SUBSTITUTION
        • NEW ENTRANTS
        • INDUSTRY RIVALRY
      • OPPORTUNITY MATRIX
      • VENDOR LANDSCAPE
      • KEY BUYING CRITERIA
      • LIST OF GOVERNMENT ENERGY EFFICIENCY DEPARTMENTS
    2. MARKET BY PRODUCT
      • ENVELOPE
      • HVAC RETROFIT
      • LED RETROFIT
      • APPLIANCES
    3. MARKET BY APPLICATION
      • NON-RESIDENTIAL
      • RESIDENTIAL
    4. GEOGRAPHICAL ANALYSIS
      • ASIA-PACIFIC
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • CHINA
          • JAPAN
          • INDIA
          • SOUTH KOREA
          • SINGAPORE
          • AUSTRALIA & NEW ZEALAND
          • REST OF ASIA-PACIFIC
    1. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • MERGERS & ACQUISITIONS
        • PRODUCT LAUNCHES & DEVELOPMENTS
        • PARTNERSHIPS & AGREEMENTS
        • BUSINESS EXPANSIONS
      • COMPANY PROFILES
        • AECOM
        • AMERESCO
        • DAIKIN INDUSTRIES LTD
        • EATON CORPORATION PLC
        • ENGIE
        • GENERAL ELECTRIC
        • JOHNSON CONTROLS
        • ORION ENERGY SYSTEM INC
        • SCHNEIDER ELECTRIC
        • SIEMENS
        • SIGNIFY NV
        • TRANE TECHNOLOGIES PLC

    LIST OF TABLES

    TABLE 1:  MARKET SNAPSHOT – ENERGY RETROFIT SYSTEMS

    TABLE 2:  GOVERNMENT AGENCIES

    TABLE 3:  ASIA-PACIFIC ENERGY RETROFIT SYSTEMS MARKET, BY PRODUCT, HISTORICAL YEARS, 2018-2021 (IN $ BILLION)

    TABLE 4:  ASIA-PACIFIC ENERGY RETROFIT SYSTEMS MARKET, BY PRODUCT, FORECAST YEARS, 2022-2030 (IN $ BILLION)

    TABLE 5:  ASIA-PACIFIC ENERGY RETROFIT SYSTEMS MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2021 (IN $ BILLION)

    TABLE 6:  ASIA-PACIFIC ENERGY RETROFIT SYSTEMS MARKET, BY APPLICATION, FORECAST YEARS, 2022-2030 (IN $ BILLION)

    TABLE 7:  ASIA-PACIFIC ENERGY RETROFIT SYSTEMS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ BILLION)

    TABLE 8:  ASIA-PACIFIC ENERGY RETROFIT SYSTEMS MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ BILLION)

    TABLE 9:  KEY PLAYERS IN ASIA-PACIFIC ENERGY RETROFIT SYSTEMS MARKET

    TABLE 10:  LIST OF MERGERS & ACQUISITIONS

    TABLE 11:  LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

    TABLE 12:  LIST OF PARTNERSHIPS & AGREEMENTS

    TABLE 13:  LIST OF BUSINESS EXPANSIONS                        

    LIST OF FIGURES

    FIGURE 1: KEY MARKET TRENDS

    FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

    FIGURE 3: OPPORTUNITY MATRIX

    FIGURE 4: VENDOR LANDSCAPE

    FIGURE 5: KEY BUYING CRITERIA

    FIGURE 6: ASIA-PACIFIC ENERGY RETROFIT SYSTEMS MARKET, GROWTH POTENTIAL, BY PRODUCT, IN 2021

    FIGURE 7: ASIA-PACIFIC ENERGY RETROFIT SYSTEMS MARKET, BY ENVELOPE, 2022-2030 (IN $ BILLION)

    FIGURE 8: ASIA-PACIFIC ENERGY RETROFIT SYSTEMS MARKET, BY HVAC RETROFIT, 2022-2030 (IN $ BILLION)

    FIGURE 9: ASIA-PACIFIC ENERGY RETROFIT SYSTEMS MARKET, BY LED RETROFIT, 2022-2030 (IN $ BILLION)

    FIGURE 10: ASIA-PACIFIC ENERGY RETROFIT SYSTEMS MARKET, BY APPLIANCES, 2022-2030 (IN $ BILLION)

    FIGURE 11: ASIA-PACIFIC ENERGY RETROFIT SYSTEMS MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2021

    FIGURE 12: ASIA-PACIFIC ENERGY RETROFIT SYSTEMS MARKET, BY NON-RESIDENTIAL, 2022-2030 (IN $ BILLION)

    FIGURE 13: ASIA-PACIFIC ENERGY RETROFIT SYSTEMS MARKET, BY RESIDENTIAL, 2022-2030 (IN $ BILLION)

    FIGURE 14: ASIA-PACIFIC ENERGY RETROFIT SYSTEMS MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

    FIGURE 15: CHINA ENERGY RETROFIT SYSTEMS MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 16: JAPAN ENERGY RETROFIT SYSTEMS MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 17: INDIA ENERGY RETROFIT SYSTEMS MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 18: SOUTH KOREA ENERGY RETROFIT SYSTEMS MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 19: SINGAPORE ENERGY RETROFIT SYSTEMS MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 20: AUSTRALIA & NEW ZEALAND ENERGY RETROFIT SYSTEMS MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 21: REST OF ASIA-PACIFIC ENERGY RETROFIT SYSTEMS MARKET, 2022-2030 (IN $ BILLION)       

    1. GEOGRAPHICAL ANALYSIS
      • ASIA-PACIFIC
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • CHINA
          • JAPAN
          • INDIA
          • SOUTH KOREA
          • SINGAPORE
          • AUSTRALIA & NEW ZEALAND
          • REST OF ASIA-PACIFIC
    1. MARKET BY PRODUCT
      • ENVELOPE
      • HVAC RETROFIT
      • LED RETROFIT
      • APPLIANCES
    2. MARKET BY APPLICATION
      • NON-RESIDENTIAL
      • RESIDENTIAL

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