$13.2B Derived from Sales of Energy Efficiency Services by End of 2014, Says Navigant
By the close of 2014, the global market size for energy efficiency commercial building retrofits will reach $68.2 billion, according to Navigant Research’s report Energy Efficiency Retrofits for Commercial and Public Buildings. Of this total, about 81 percent, or $55 billion, will derive from sales of products used in energy efficiency building retrofits. These include efficient HVAC, lighting, building controls, water efficiency products, hot water heating products, building envelope, and other products (primarily onsite power generation). The remaining 19 percent, or $13.2 billion, will be derived from sales of energy efficiency services. These include building commissioning (re- commissioning, retro-commissioning, and continuous commissioning) and costs associated with the installation of the energy efficiency products noted above.
Global markets for energy efficiency commercial building retrofits are expected to show persistent growth through 2023, according to Navigant. Global markets are led by the Asia Pacific region, which is expected to see its market share grow from 39 percent in 2014 to 45 percent in 2023, a compound annual growth rate (CAGR) of 9 percent. Growth in this region will be led by a growing number of retrofits in China and emerging economies, as stricter energy efficiency regulations, incentives, and cultural shifts come into play.
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