Global Energy Retrofit Systems Market to reach USD 194.44 million by 2027.Global Energy retrofit system Market is valued approximately at USD 142.88 Million in 2020 and is anticipated to grow with a healthy growth rate of more than 4.5% over the forecast period 2021-2027. . The retrofitting of these systems leads to substantial reduction in energy costs for homes and offices. The global Energy retrofit system market is being driven by growing energy consumption and need for improved energy efficiency. Furthermore, regulatory mandates and incentive programs, will provide new opportunities for the global Energy retrofit system industry. For instance, according to international European agency, the electricity consumption increased by 50% between 2018 to 2050. As a result, increased in energy consumption will serve as a catalyst for the Energy retrofit system industry in the future. However, longer payback period and hidden costs, may impede market growth over the forecast period of 2021-2027.
Asia Pacific, North America, Europe, Latin America, and Rest of the World are the key region considered for the regional analysis of Energy Retrofit Systems market. The rising consumption of energy and growing concern about the GHG emission and government regulation to decrease carbon footprint. makes Europe the leading region across the world in terms of market share. Whereas Europe is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to rising funding from European union for conservation of energy and rising energy efficiency projects
Major market player included in this report are:
Daikin Industries, ltd.
Orion Energy Systems Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
LED Retrofit Lighting
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.
Target Audience of the Global Energy Retrofit Systems Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers