LONDON–(BUSINESS WIRE)–The global zero-energy buildings market is expected to grow by USD 85.9 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 30%.
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The zero-energy buildings market is driven by the growing use of sustainable energy. In addition, the proliferation of net-zero buildings in India is anticipated to boost the growth of the zero-energy buildings market.
Growing concerns over GHG emissions and the decline in fossil fuel reserves have increased the adoption of renewable energy sources such as wind, solar, etc. In addition, the expanding global population and improving living standards of people have increased the demand for energy. These factors have increased the emphasis on sustainable energy. Besides, end-users such as buildings account for nearly 40% of the total energy consumption and contribute substantially to GHG emissions. This has necessitated the need for energy-efficient buildings that are ergonomically designed to consume minimal energy. With growing awareness about global warming and the rising demand for residential and commercial buildings, the demand for zero-energy buildings will increase during the forecast period.
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Major Five Zero-energy Buildings Companies:
Canadian Solar Inc.
Canadian Solar Inc. operates its business through segments such as MSS and Energy. The company offers various solar modules such as Dual Cell PERC Module and High Density Shingle Mono-PERC Module for residential and commercial applications.
Daikin Industries Ltd.
Daikin Industries Ltd. operates its business through segments such as Air conditioning, Chemicals, Oil hydraulics, and Defense. The company offers heat pumps and heat recovery units for residential and commercial applications.
General Electric Co.
General Electric Co. operates its business through segments such as Power, Renewable energy, Aviation, and Healthcare. The company offers LV5+ Solar Inverter. The product works on solar power to help buildings reduce energy consumption.
Honeywell International Inc.
Honeywell International Inc. operates its business through segments such as Aerospace, Honeywell Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The company offers environmental and combustion controls, sensing controls, security and life safety products and services, scanning and mobility devices, and building solutions.
Johnson Controls International Plc
Johnson Controls International Plc operates its business through segments such as Building Solutions North America, Building Solutions EMEA and LA, Building Solutions Asia Pacific, and Global Products. The company offers a wide range of products for residential and commercial applications. Some of its key offerings include LUX thermostat, GLAS thermostat, YZT 19 SEER two stage heat pump, YZV 20 SEER variable capacity communicating heat pump, and PCE6.
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Zero-energy Buildings Market Product Outlook (Revenue, USD Billion, 2020-2024)
Zero-energy Buildings Market Geography Outlook (Revenue, USD Billion, 2020-2024)
Zero-energy Buildings Market Application Outlook (Revenue, USD Billion, 2020-2024)
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