The zero energy buildings market size is estimated to reach $403 billion by 2031, growing at a CAGR of 18.7% from 2022 to 2031.
PORTLAND, UNITED STATES, UNITED STATES, September 11, 2023 /
EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “
Zero Energy Buildings Market," The zero energy buildings market size was valued at $71.7 billion in 2021, and is estimated to reach $403 billion by 2031, growing at a CAGR of 18.7% from 2022 to 2031.
𝘿𝙤𝙬𝙣𝙡𝙤𝙖𝙙 𝙍𝙚𝙨𝙚𝙖𝙧𝙘𝙝 𝙎𝙖𝙢𝙥𝙡𝙚 𝙬𝙞𝙩𝙝 𝙄𝙣𝙙𝙪𝙨𝙩𝙧𝙮 𝙄𝙣𝙨𝙞𝙜𝙝𝙩𝙨 𝙉𝙤𝙬 𝙒𝙞𝙩𝙝 𝘼𝙡𝙡 𝙂𝙧𝙖𝙥𝙝𝙨 & 𝘾𝙝𝙖𝙧𝙩𝙨 –
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Commonly observed components of zero energy buildings include lighting, HVAC systems, and others. Among these, the HVAC segment accounted for the laregest zero energy buildings market share in 2021, owing to high demand for energy efficient HVAC systems. Further, the building components segment under the solution, registered highest revenue in 2021, owing to large number of installations of building components in buildings, such as air conditioners, and heating appliances. In addition, the market is analyzed among different applications of zero energy building components, which includes residential and non-residential. The market is mainly driven by combined global efforts for reducing greenhouse gas emissions and rise in building construction activities due to rapid urbanization. However, the high initial cost of zero energy building systems, is expected to restrain the growth of zero energy buildings market.
In 2021, North America dominated the global zero energy buildings market, in terms of revenue. Moreover, the market in Asia-Pacific is expected to grow with high CAGR, owing to rise in urbanization.
The rise in global population and rapid urbanization propels the growth of the building construction sector; thereby, driving demand in zero energy buildings market. Further, various government initiatives that have incentivized the adoption of zero-energy buildings and its components is expected to positively infleunde zero energy buildings market growth.
Furthermore, on the basis of application, the residential segment is anticipated to grow rapidly during the forecast period, owing to rising urbanization.
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Key players in the market have adopted various strategies to sustain the competition in the market. For instance, in October 2020, Mitsubishi Electric Corporation, expanded its R&D facility by constructing ‘SUSTIE’, a net zero-energy building (ZEB) test facility. This facility will assist in development and testing of ZEB-compliant energy-conservation technologies.
However, various manufacturers and building contractors in the zero energy buildings market had to stop their business in countries such as Japan, the U.S., Europe, and Australia, during the pandemic lockdown. This break directly impacted the growth of zero energy buildings component manufacturing companies. In addition, lack of manpower and raw materials constricted supply of raw materials for zero energy buildings; and negatively influenced the growth of the market. However, after two years of COVID-19 outbreak and introduction of vaccinations, the severity of the pandemic has significantly reduced and key players in the market are recovering rapidly.
Key companies profiled in the Zero energy buildings market forecast report include Altura Associates, Canadian Solar Inc., DABITRON Group Canary Islands, Daikin industries Ltd., GreenTree Global, Honeywell International Inc., Integrated Environmental Solutions, Johnsons Control International Plc, Kingspan Group Plc., Mitsubishi Electric Corporation, NEO LLC, Saint-Gobain (Sage glass), Schneider Electric, Siemens AG, Solatube International, SunPower Corp., and Trane Technologies plc.
Key Findings of the Study
The report provides an extensive analysis of the current and emerging zero energy buildings market trends and dynamics.
By component, the HVAC system segment dominated the zero energy buildings market, in terms of revenue in 2021 and others segment is expected to grow at a significant CAGR during the forecast period.
By solution, the building components segment registered higher revenue in 2021.
By application, the residential segment is expected to grow at a higher CAGR during the forecast period.
Asia-Pacific is projected to register highest growth rate in the coming years.
The key players within the zero energy buildings market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the
zero energy buildings industry.
The report provides an extensive analysis of the current and emerging zero energy buildings market opportunities .
In-depth zero energy buildings market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.
The Significance of the Zero Energy Buildings Market:
Zero energy buildings represent a paradigm shift in the construction industry, offering a sustainable and efficient approach to building design. By utilizing renewable energy sources, advanced insulation techniques, and energy-efficient systems, ZEBs aim to eliminate the carbon footprint associated with traditional buildings. These structures not only contribute to global efforts to combat climate change but also provide long-term economic benefits through reduced energy costs and increased property value.
The global movement towards sustainable and energy-efficient buildings has gained significant momentum in recent years. As concerns over climate change and rising energy costs escalate, the concept of zero energy buildings (ZEBs) has emerged as a viable solution. These innovative structures are designed to consume only as much energy as they produce, resulting in minimal carbon emissions and reduced reliance on fossil fuels. In this blog post, we will delve into the zero energy buildings market, exploring its significance, growth drivers, and providing a free PDF sample for readers interested in gaining deeper insights into this game-changing industry.
Key Drivers of the Zero Energy Buildings Market:
Environmental Consciousness: The increasing awareness of environmental issues and the urgency to mitigate climate change have prompted governments, businesses, and individuals to prioritize sustainability. ZEBs offer an attractive solution, allowing stakeholders to reduce their carbon footprint and contribute to a greener future.
Energy Cost Savings: Rising energy costs have motivated building owners and operators to seek energy-efficient alternatives. ZEBs, with their minimal reliance on external energy sources and potential for energy generation, provide long-term cost savings by significantly reducing energy bills.
Government Initiatives and Incentives: Governments worldwide have introduced regulations and incentives to promote energy-efficient building practices. Subsidies, tax credits, and grants encourage the adoption of ZEBs, driving market growth and facilitating the transition towards sustainable construction.
Technological Advancements: The advancement of technologies such as solar power, energy storage systems, smart controls, and building management systems has made it easier to achieve zero energy goals. Integration of these technologies into building design and operations maximizes energy efficiency and enhances the performance of ZEBs.
Market Demand and Public Perception: Consumers are increasingly demanding sustainable and energy-efficient buildings. ZEBs not only align with these preferences but also offer healthier and more comfortable living and working environments. The market demand for sustainable buildings has motivated architects, developers, and construction companies to embrace zero energy design principles.
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Conclusion:
The zero energy buildings market represents a significant step towards sustainable and energy-efficient construction practices. With their ability to generate as much energy as they consume, zero energy buildings contribute to reducing greenhouse gas emissions and mitigating climate change. As governments, businesses, and individuals increasingly prioritize sustainability, the demand for ZEBs continues to grow. By embracing the concept of zero energy buildings, stakeholders can not only reduce their environmental impact but also enjoy long-term cost savings and enhanced property value. The provided free PDF sample serves as a valuable resource for readers interested in gaining deeper insights into the zero energy buildings market and understanding how this transformative approach is shaping the future of the construction industry.
David Correa
Allied Analytics LLP
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