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 their nations building stock.
With buildings being one of the largest sources of energy consumption, the opportunity to improve energy efficiency is significant, from the utilisation of energy-efficient lighting technologies through to energy monitoring and management. 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 percent from the 2011 market value of $67.9 billion. This really is a good time to be in the energy efficiency business.
This is exciting news for Enigin Distributors globally as they can expect to continue to see their energy saving businesses grow, and with cutting edge products, systems and solutions from Enigin providing them with the ideal tools for the needs of both private and public sectors within their territories.
Bloom adds that, with regard to the existing building stock, ESCOs (energy service companies) are leading the energy efficiency charge for commercial buildings in many countries, using various financing mechanisms to install energy efficient equipment and kick-start ongoing energy efficiency services.
The market for energy efficient equipment, including efficient HVAC and lighting systems, is also in a period of transformation, as green building trends drive increase interest in efficient systems and as efficient lighting technologies, such as LEDs, continue to decline in cost.
Pike Research’s forecasts indicate that the ESCO market will represent the largest segment of the energy efficient buildings industry in the coming years, with revenues more than doubling from $30.1 billion in 2011 to $66 billion worldwide by 2017, a compound annual growth rate (CAGR) of 14 percent.
Read Pike Research’s report, “Energy Efficient Buildings: Global Outlook”