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EUROPE ENERGY RETROFIT SYSTEMS MARKET FORECAST 2022-2030

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EUROPE ENERGY RETROFIT SYSTEMS MARKET FORECAST 2022-2030

The Europe energy retrofit systems market is projected to record a CAGR of 4.41% during the forecast period, 2022-2030, and is predicted to reach a revenue of $91.55 billion by 2030.

EUROPE ENERGY RETROFIT SYSTEMS MARKET FORECAST 2022-2030

Europe 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 Europe energy retrofit systems market is projected to record a CAGR of 4.41% during the forecast period, 2022-2030, and is predicted to reach a revenue of $91.55 billion by 2030.

The collaborative efforts by European Union to achieve energy efficiency across the continent have created a supportive infrastructure for technological exchange and attracted investment. Such a foundation will help promote the energy retrofit systems market in Europe. Every European country has its policy, funds setups, and regional authority that keeps track of the nations’ progress and helps them keep track and take measures in case of fallback. Therefore, a specialized focus on achieving efficiency will maintain the demand for energy-efficient products.

Europe Energy Retrofit Systems Market

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The Europe energy retrofit systems market growth analysis includes the assessment of Spain, United Kingdom, Germany, Italy, Nordic Countries, France, and Rest of Europe. The government of the United Kingdom has introduced the Industrial Energy Transformation Fund (IETF) for private and industrial companies. The initiative is expected to boost businesses with higher energy use to reduce carbon emissions and energy bills by making investments in low carbon technologies and energy efficiency. Further, in its budget for 2018, the government had announced over $400 million of funding, available until 2025. Therefore, massive investments and government initiatives will propel the market growth of energy retrofit systems in the United Kingdom.

On the other hand, the government of Germany has adopted a National Action Plan on Energy Efficiency (NAPE), which is a comprehensive set of policies to improve the country’s energy efficiency. The NAPE seeks to encourage all parts of society to use energy more efficiently, including businesses, municipalities, and consumers. It aims to provide advice and information on energy efficiency. Also, NAPE has CO2 Building Modernization Programme and KfW funding for energy-efficient construction and retrofitting.

The Europe energy retrofit systems market segmentation entails application and product. The market by product can be further segmented into the HVAC retrofit, LED retrofit, envelope, and appliances.

Heating, ventilation, and air conditioning (HVAC) systems are employed in residential and commercial buildings heated and cooled using this technology. It includes products like thermostats, furnaces, heat pumps, air conditioners, ductwork, and other comfort controls. HVAC systems can be found anywhere from residential homes/buildings to the largest commercial infrastructure to provide indoor comfort. An HVAC system’s major goal is to maintain good interior air quality by providing enough ventilation and filtration while also providing thermal comfort. HVAC systems are among the largest energy consumers, and thus it raises concerns about energy efficiency.

HVAC retrofit of existing systems helps to save energy and improve indoor air quality. As old HVAC systems could incur more expenses and increase energy consumption, retrofitting them with a new system or upgrading the existing one can help save bills and increase energy efficiency. Thus, an increase in sales is expected, and the HVAC retrofit market is expected to grow globally with its high usage and application.

Some key market players operating in the Europe energy retrofit systems market include Engie, Siemens, Schneider Electric, etc.

Siemens AG (Siemens) is a global technology company with core electrification, automation, and digitization activities. The company offers products, solutions, and services for medical imaging, power generation, laboratory diagnostics, oil & gas production, transportation, transmission & distribution, industrial technologies & automation system, infrastructure & building technologies, mobility & logistics solutions, and audiology solutions. The company has business operations across the Middle East, Europe, Africa, North America, and Asia-Pacific. The company is headquartered in Munich, Germany.

GCB-Retrofit plug-and-play solutions, the generator circuit-breaker (GCB) of Siemens, synchronizes the generator to the grid and protects both the generator and its step-up transformer in case of an electrical fault.

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 United Kingdom, Germany, Spain, Italy, Nordic Countries, France, Rest of Europe.
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
      • EUROPE
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED KINGDOM
          • GERMANY
          • FRANCE
          • SPAIN
          • ITALY
          • NORDIC COUNTRIES
          • REST OF EUROPE
    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:  EUROPE ENERGY RETROFIT SYSTEMS MARKET, BY PRODUCT, HISTORICAL YEARS, 2018-2021 (IN $ BILLION)

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

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

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

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

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

    TABLE 9:  KEY PLAYERS IN EUROPE 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: EUROPE ENERGY RETROFIT SYSTEMS MARKET, GROWTH POTENTIAL, BY PRODUCT, IN 2021

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

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

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

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

    FIGURE 11: EUROPE ENERGY RETROFIT SYSTEMS MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2021

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

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

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

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

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

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

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

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

    FIGURE 20: NORDIC COUNTRIES ENERGY RETROFIT SYSTEMS MARKET, 2022-2030 (IN $ BILLION)

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

    1. GEOGRAPHICAL ANALYSIS
      • EUROPE
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED KINGDOM
          • GERMANY
          • FRANCE
          • SPAIN
          • ITALY
          • NORDIC COUNTRIES
          • REST OF EUROPE
    1. MARKET BY PRODUCT
      • ENVELOPE
      • HVAC RETROFIT
      • LED RETROFIT
      • APPLIANCES
    2. MARKET BY APPLICATION
      • NON-RESIDENTIAL
      • RESIDENTIAL

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