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NORTH AMERICA ENERGY RETROFIT SYSTEMS MARKET FORECAST 2022-2030

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NORTH AMERICA ENERGY RETROFIT SYSTEMS MARKET FORECAST 2022-2030

The North America energy retrofit systems market is projected to record a CAGR of 4.97% during the forecast period, 2022-2030, and is estimated to be valued at $69.06 billion by 2030.

NORTH AMERICA ENERGY RETROFIT SYSTEMS MARKET FORECAST 2022-2030

North America 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 North America energy retrofit systems market is projected to record a CAGR of 4.97% during the forecast period, 2022-2030, and is estimated to be valued at $69.06 billion by 2030.

North America has witnessed considerable growth in the demands for energy retrofit systems, owing to government efforts and policies to build an energy-efficient ecosystem. Private companies’ rising requirements for these systems across various industries drive the North American energy retrofit systems market growth.

North America Energy Retrofit Systems Market

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Moreover, a joint program between the Environmental Protection Agency (EPA) and the Department of Energy (DOE) identifies cost-effective and top-performing homes, products, and buildings. It aims to help businesses, consumers, and industry protects the environment by adopting energy-efficient products and practices, thereby boosting the demand for retrofit systems.

The North America energy retrofit systems market growth evaluation entails the analysis of the United States and Canada. In the United States, the Office of Energy Efficiency and Renewable Energy aims to provide support and guidance for energy-efficient programs and initiatives. As energy consumption is the second-highest operational expense in schools, the US government announced a $500 million program for better school infrastructure in April 2022. Moreover, the program aims to address energy efficiency in public schools, and it will help improve their heating, air conditioning, ventilation, HVAC systems, and other energy upgrades.

The North America energy retrofit systems market segmentation analysis entails application and product. Market by application is further segmented into non-residential and residential.

Non-residential property refers to office buildings, factories, malls, shops, etc. These places have electrical appliances and hence consume lots of energy. Thus, the energy retrofit systems plays a major role in cost savings and energy efficiency measures. The majority of the offices and factories are owned/rented, managed, and operated by private organizations globally.

Energy conservation and energy efficiency are part of their environmental, social, and corporate governance policy. Many companies have also pledged to help in saving climate change. Thus, organizations are always looking for measures to help them attain their objectives to adhere to the norms, policies, and responsibilities. Governments also provide minimum energy-efficient design and construction requirements for buildings and their systems.

On the other hand, residential properties also consume a high amount of energy and require energy conservation, cost-saving, and efficiency measures. An energy retrofit systems can help residential property owners to achieve these measures. Governments also provide policies, guidance, and programs to encourage energy efficiency in existing homes, new products, and new construction. Governments also provide financing and incentive options to help lower the cost of making energy efficiency improvements in new or existing homes. Thus, the increasing requirement for energy efficiency in the residential sector is expected to encourage the global growth of the energy retrofit systems market.

Some of the key players in the North America energy retrofit systems market include General Electric, AECOM, Orion Energy Systems, etc.

General Electric operates worldwide through its four segments: aviation, healthcare, renewable energy, and power. Their products include military and commercial aircraft systems and engines, pharmaceutical diagnostics and healthcare systems, wind and other renewable energy generation grid solutions and equipment, and steam, gas, nuclear, and other power generation equipment. The company operates globally and is headquartered in Massachusetts, United States.

Company’s Lumination RS Series LED DownLight offers easy-to-install retrofit solutions for offices, hospitality, or retail space. Advanced steam path (ASP) solutions, GE offers partial or full steam path upgrades to ensure fast, tailored, and cost-effective solutions depending on customer applications and needs.

 

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 States and Canada
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
      • NORTH AMERICA
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED STATES
          • CANADA
    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:  NORTH AMERICA ENERGY RETROFIT SYSTEMS MARKET, BY PRODUCT, HISTORICAL YEARS, 2018-2021 (IN $ BILLION)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    1. GEOGRAPHICAL ANALYSIS
      • NORTH AMERICA
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED STATES
          • CANADA
    1. MARKET BY PRODUCT
      • ENVELOPE
      • HVAC RETROFIT
      • LED RETROFIT
      • APPLIANCES
    2. MARKET BY APPLICATION
      • NON-RESIDENTIAL
      • RESIDENTIAL

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