Energy Efficiency Retrofits Market Commercial and Residential Buildings - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2014 - 2020

The need of energy efficient control systems has led to the development of mechanical systems which could provide the required environment in a cost effective manner. On a global scale, commercial and residential buildings account for a major share of the total energy consumption. The commercial and residential complexes consume a substantial amount of energy related to activities such as Heating, Ventilating and Air- Conditioning (HVAC) systems, lighting and water management activities. Several countries are implementing energy efficient systems to optimize energy consumption and reduce emissions. Energy retrofits in commercial and residential buildings provide an improvised method for energy security. The market for energy efficiency retrofits is directly influenced by many building standards. The ISO is one such environmental standard which has established principles related to building designs. The market for advanced energy efficiency retrofits control systems is anticipated to rise at a rapid pace in the future due to increasing demand for such smart control systems.

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Energy cost reduction initiatives and regulatory measures are the major drivers bolstering investment in energy efficiency retrofit market. The increasing expenditure on energy systems and enforcement of strict emission regulations have forced many industrial and commercial organizations to adopt for advanced energy efficiency retrofit systems. The policy incentives announced by governmental agencies in several nations have attracted building developers to invest in this technology. The real estate market value of the commercial and residential buildings substantially increases if the building developers invest in energy efficiency systems by replacing old conventional technologies. In developed economies such as the U.S., the government has announced clear policy objectives...