Growing demand for space cooling and interest in net zero energy buildings are driving regional uptake of energy efficient building solutions
Energy consumption in Asia-Pacific buildings is expected to continue to grow rapidly, spurred by high economic growth and the increasing demand for cooling in warm climate regions.
At the same time, as the focus on energy efficiency increases, most governments in the region have taken energy efficiency into serious consideration, pursuing green building certificate programs, a growing interest in net zero energy (ZNE) buildings, and the digital revolution of energy efficiency solutions.
According to a new report from Navigant Research, energy efficient buildings’ market revenue in Asia Pacific is expected to grow from $65.3 billion in 2017 to $111.3 billion in 2026.
“There is a growing demand for space cooling, as well as interest in ZNE buildings in Asia Pacific,” says Christina Jung, research analyst at Navigant Research.
“Together, these two trends are driving the uptake of energy efficient building technologies, particularly in the region’s two most rapidly growing economies, China and India.”
While existing technologies can save more than two-thirds of major end-use energy consumption in buildings, two-thirds of global building energy use is still not subject to minimum energy performance standards.
According to the report, this signals a vast potential market for building energy efficiency solutions providers in Asia Pacific and beyond.
The report, Market Data: Energy Efficient Buildings – Asia Pacific, analyzes the market for energy efficient building technologies in Asia Pacific.
The study focuses on seven product types (HVAC, lighting, building controls, water efficiency, water heating, building envelope, and other) and two service types (commissioning and installation). Market forecasts, which are also segmented by eight commercial building types and by new construction and retrofit spending, extend through 2026.
The report also provides an analysis of the market dynamics, including market drivers and hurdles, opportunities, and unique programs that are helping to extend and broaden commercial building efficiency throughout Asia Pacific.
An Executive Summary of the report is available for free download on the Navigant Research website.