The rising demand for energy and limited/inefficient storage systems are proving inadequate to satisfy the demand for industrial energy requirements. Researchers are aggressively and continuously working in order to develop and manufacture effective and efficient systems that will store and distribute the required amount of energy globally. Energy retrofits are the adjustment or addition to the existing energy consuming equipment that are utilized in commercial outlets and in buildings.
The desire to reduce energy costs required to operate the industry is the primary driving force of this market. The main reason for the implementation of such retrofit products is the corporate social responsibility that almost all organizations are fulfilling. This includes reduction in carbon foot prints and curbing emissions of green house gases across the globe. Certain consumers install such retrofits in order to comply with the environmental standards and acquire the ISO, REACH, and Greenpeace certifications, thereby attempting to raise their standards.
The market is segmented based on the building size, its age, regions, energy utilization, and different technologies utilized for various energy consuming systems in producing energy retrofits. The market is restrained by the lack of awareness in emerging countries and moderate government support as well as lack of initiatives that are required to trigger the market growth effectively. The high cost involved in installing energy retrofits also equally contributes in downsizing the market.
The worldwide scarcity of energy and the rising demand for energy across the globe is expected to open new horizons for the market with effective government and EPA support. Impending regulations on the implementation of such energy retrofits are estimated to boost the market in the coming five years.
Some of the major players in this industry are Daikin Industries, Ltd., Schneider Electric, Johnson Controls, AECOM Energy, Ameresco, Inc., The Benham Companies, LLC/SAIC, Burns & McDonnell, Chevron Energy Solutions, Clark Energy Group, LLC, Cofely/GDF Suez, and ConEdison Solutions.
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This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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