Global Annual Revenue for Building Decarbonization Technologies Is Expected to Reach $269 Billion in 2028
Highly energy efficient electric HVAC systems, associated controls, building envelope measures, and installation and commissioning services are poised for growth over the next decade
A new report from Navigant Research examines the market issues surrounding building decarbonization and provides a 10-year market revenue forecast focused on four technology types key to decarbonizing the commercial built environment.
Buildings generate approximately 40% of global greenhouse gas (GHG) emissions and constitute 36% of global energy use. Additionally, nearly two-thirds of global energy consumption from buildings comes from fossil fuels. For commercial buildings, energy efficiency is key to reducing energy consumption and carbon footprints. Click to tweet: According to a new report from @NavigantRSRCH, global annual revenue for building decarbonization technologies is expected to reach $269 billion in 2028.
“Commercial buildings offer significant opportunities for GHG emission reductions through energy efficiency and electrification,” says Sasha Wedekind, research analyst with Navigant Research. “Products and services for building decarbonization, such as highly energy efficient electric HVAC systems, associated controls, building envelope measures, and installation and commissioning services, are poised for consistent growth over the next decade.”
According to the report, technology and business model innovation in markets adjacent to traditional energy efficiency products and services are also helping to advance the market. Intelligent building management systems, energy storage, onsite generation, and energy as a service (EaaS) models are expected to contribute to market expansion.
The report, Energy Efficient Buildings Overview, analyzes these and other market issues surrounding building decarbonization and includes a 10-year market revenue forecast. The forecast focuses on four technology types key to decarbonizing the commercial built environment: electric energy efficient HVAC and water heating equipment, associated HVAC controls hardware, energy efficient building envelope, and energy efficiency services such as installation and commissioning. An executive summary of the report is available for free download on the Navigant Research website.
*The information contained in this press release concerning the report, Energy Efficient Buildings Overview, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.