efficiency

Report: Global Industrial Energy Efficiency Sector Worth $10.18B in 2020

efficiency
Photo: Morguefile

The global industrial energy efficiency services market will enjoy a compound annual growth rate (CAGR) of more than 6 percent during the next four years, according to Technavio.

The report, which tracks the market from last year through 2020, says that its value will be $10.18 billion at the end of the study period. The press release says that a key driver is the desire to reduce greenhouse gas emissions. Related drivers include increased demands by regulatory bodies and the desire of companies to improve their brand images.

The report says that the size of the auditing/consulting market will grow due to policy mandates. That sector, which was valued at $3.21 billion last year, will reach $4.51 billion by 2020, Technavio predicts.

Audits are keys to improving energy efficiency. They are the first steps for businesses as diverse as farming and commercial buildings.

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