The global zero energy buildings market is expected to grow at a CAGR of around 39% by 2021, a new report from Technavio predicts. Several factors are driving the expansion, according to Technavio’s analysis.
“Global Zero Energy Buildings Market 2017-2021” analyzes the market by product, application, and geography. Products include HVAC and controls, insulation and glazing, lighting and controls, and water heating while the applications are separated into public and commercial buildings, and residential buildings. In 2016, the public and commercial buildings segment accounted for around 82% of the global zero energy buildings market, Technavio analysts found.
Buildings are known to consume large amounts of energy — Technavio cites data from the European Commission saying that buildings account for 40% of energy use worldwide.
“The non-renewable nature and prevailing scarcity of energy sources encourages the development of green buildings,” the Technavio report summary says. “Energy-efficient buildings, such as green buildings, consume minimal energy and efficiently utilize the available energy to meet all energy requirements. Also, the byproducts released are recycled and result in conservation of energy.”
Recently there has been a proliferation of zero energy buildings, also called net zero energy (NZE) and zero net energy (ZNE). A new housing and commercial development on a 189-acre site in Illinois is being planned as zero energy. In November, Crains reported that all the energy generated on the site would be equal to the amount that the residents and businesses consume. In other words, net zero.
A combination of global population growth and economic development will increase power consumption and demand while fossil fuel usage for power generation will produce more greenhouse gas emissions, the Technavio report says.
“Governments globally are expanding their power generation resources and focusing on clean and sustainable energy sources, such as solar, wind, and biomass,” according to the report. “Manufacturers are adopting fossil fuels as they generate energy without harming the environment. Further, the development of renewable technology is encouraging continuous investments in renewable energy.”
That changing energy mix is contributing to growth in the zero energy buildings market. “The market is expected to grow significantly over the forecast period, which will provide high opportunities for the global vendors,” the Technavio report notes.
The report identifies these leading vendors in the market:
- Daikin Industries
- Honeywell International
- Schneider Electric
Other prominent vendors mentioned in the report: altPOWER, Altura Associates, Canadian Solar, Centrosolar America, Danfoss, Ertex Solartechnik, First Solar, Hanergy Holding Group, Heliatek, Johnson Controls, Masdar, Meritage Homes, SunPower, SHARP, Trane, Trina Solar, Wuxi Suntech, View, Yingli Solar, and Zero Energy Systems.
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