Global Market for Energy Efficient Buildings to Surpass $100 Billion by 2017
The market for energy efficiency services and equipment is on the rise as national governments look to reduce energy consumption by improving the efficiency of the building stock. With buildings being one of the largest sources of energy consumption, the opportunity to improve efficiency is significant, ranging from high-efficiency heating, ventilation, and air conditioning (HVAC) systems to the utilization of energy-efficient lighting technologies to business models such as energy performance contracting (EPC) as employed by energy service companies (ESCOs) around the world. According to a new report from Pike Research, the total market for energy efficiency in buildings will reach $103.5 billion by 2017, an increase of more than 50% from the 2011 market value of $67.9 billion.
"The structure of energy efficient building markets varies considerably from one country or region to another," said research analyst Eric Bloom, "and vendors and service providers aiming to increase their coverage of energy efficiency markets must remain cognizant of the changing dynamics in order to maintain a strong presence."