FRANCE ENERGY RETROFIT SYSTEMS MARKET FORECAST 2022-2028

The France energy retrofit systems market is set to project a CAGR of 4.96% during the forecast period, 2022-2028, and is anticipated to reach a revenue of $15.46 billion by 2028.

Energy retrofit systems refers to the measures used in retrofit, refurbishment, and renovation of infrastructure such as offices, buildings, malls, homes, etc. Energy retrofit systems provide, control, maintain, or condition the interior to make the indoor environment comfortable. Moreover, an energy retrofit systems improves energy performance and efficiency while lowering electricity bills. Upgradation or new installation of air conditioners, LED lights, heaters, ventilators, etc., is commonly considered energy retrofitting.

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The Government of France has pledged to create an energy-efficient system for private and commercial locations and adopt retrofit systems to achieve its goals for energy conservation. Their initiatives are expected to boost the energy retrofit systems market growth in the coming years.

The government was also committed to raising the country’s energy efficiency by at least 20% by 2020. Further, France has developed a massive regulatory framework over the past decade and is a binding target for building sectors, industry, and transport. It also provided monetary means to promote the economic transition toward energy-efficient industry and buildings with lesser GHG emissions.

Moreover, French consumers are extremely demanding of efficient services and products. As a result, companies actively promote sustainable development and heavily invest in research and development to stay relevant to the market needs. Therefore, government regulations, as well as demand for energy efficient products, will boost the energy retrofit systems market during the forecast years.

The France energy retrofit systems market segmentation entails analysis of application and product. The market by product can be further segmented into the appliances, envelopes, HVAC retrofit, and LED retrofit.

LED retrofit refers to converting an existing fixture such as CFL, fluorescent, or incandescent to an LED lighting fixture. Retrofit LEDs are further designed to replace conventional light sources easily and quickly. They can be fitted in existing fixtures and sockets. LEDs are highly energy-efficient and can drastically reduce energy usage in all installations. The materials used to make LED lighting are comparatively more environmentally friendly than those used in previous lights, such as fluorescent. LED lights have a longer life compared to traditional lighting products, reducing maintenance requirements.

Furthermore, appliances refer to the devices or products used mostly for domestic purposes such as cleaning, cooking, etc. Any consumer durable good or electronic products such as dishwasher, oven, refrigerator, television, washing machine, stove, etc., are considered appliances. These appliances consume a lot of energy, and thus their efficiency is of importance. They must be maintained properly, and their efficiency can be increased by upgrading them by purchasing advanced appliances. To keep consumers informed and aware, governments worldwide help them by running product certification programs where they provide labels on generally marketed products that explain the product’s efficiency.

Key companies operating in the France energy retrofit systems market include Schneider Electric, Siemens, Engie, etc.

Schneider Electric SE is an energy and digital automation solutions provider. The company is involved in electrical equipment, distribution, manufacturing, secured power supply, automation, building control and safety, and managing all data centers, equipment networks, and other infrastructure. It also offers IoT-enabled, interoperable architecture, plug & play, and platforms in homes, buildings, data centers, infrastructure, and industries. The company offers automation and control products, low voltage products and systems, solar and energy storage, critical power, cooling & racks, and medium voltage distribution and grid automation. The company is headquartered in Rueil-Malmaison, France. The company operates across Europe, North America, and Asia-Pacific.

EcoStruxure is Schneider Electric’s proprietary IoT-enabled, plug-and-play, open, interoperable architecture and platform, which can be used in homes, buildings, data centers, infrastructure, and industries. The company provides innovative products under EcoStruxure and services that can be used at every level from connected products to apps, edge control, services, and analytics.

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