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Energy Retrofit Systems Market by Application, Product and Geography - Forecast and Analysis 2023-2027

  • Published: Nov 2022
  • Pages: 165
  • SKU: IRTNTR74733
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The energy retrofit systems market is estimated to grow at a CAGR of 5.84% between 2022 and 2027. The size of the market is forecast to increase by USD 41.94 billion. The growth of the market depends on serval factors, including the demand for energy efficiency, the customization of automation and building control systems, and the growing construction sector.  

This report extensively covers market segmentation by application (non-residential and residential), product (HVAC retrofit, envelope, and LED retrofit lighting), and geography (Europe, APAC, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Energy Retrofit Systems Market During the Forecast Period?

Energy Retrofit Systems Market Size

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Parent Market Analysis

Technavio categorizes the global energy retrofit systems market as a part of the global electrical components and equipment market within the global electrical equipment market. The parent market, the global electrical components, and equipment market cover companies engaged in the manufacturing of electric cables and wires, electrical components, and electrical equipment. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Energy Retrofit Systems Market: Key Drivers, Trends, Challenges, and Customer Landscape

The demand for energy efficiency is notably driving the market growth, although factors such as the high installation cost may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Energy Retrofit Systems Market Driver

The demand for energy efficiency is the key factor driving the global energy retrofit systems market growth. Utility bills are a major contributor to the total operating costs of office buildings. Reducing energy use will help companies make significant cost savings. Due to the rise in infrastructural developments, more commercial and office buildings are expected to be established. HVAC, lighting systems, and other energy-efficient systems are needed to be installed in these buildings to improve infrastructure and reinforce energy efficiency, therefore requiring the installation of energy retrofit systems to achieve operational efficiency.

Residential complexes are also following in the footsteps of commercial and office buildings by installing these energy retrofit solutions in order to enjoy maximum comfort. The solutions give control to these end-users and enable them to regulate room temperature and control the lighting systems within each house in the residential complex, thereby enhancing operational efficiency and helping in reducing utility bills. These factors will drive the growth of the global energy retrofit systems market during the forecast period.

Key Energy Retrofit Systems Market Trend

The rise in the incorporation of building automation systems (BASs) will fuel the global energy retrofit systems market growth. BASs, which control and monitor HVAC, lighting, and other electronic equipment in a building, are embedded with computing and digital communication tools that allow these systems to enhance energy efficiency. The number of integrated BAS installations has increased owing to the rise in the number of construction projects and building retrofits. The BAS technology has advanced features owing to improvements in sensor technology, the availability of cheaper and faster communication systems, and improved user interfaces.

Manufacturers are implementing open protocols, including the Internet protocol, to provide improved control solutions. BASs are becoming a common technology for enhancing the interaction and operability among HVAC, lighting, fire, and security control units of a building. The energy efficiency ensured by the ever-improving BAS technology enables building owners to enhance facility management with integrated user-friendly energy retrofit solutions. Such benefits are expected to propel the growth of the global energy retrofit systems market during the forecast period.

Key Energy Retrofit Systems Market Challenge

The high installation cost is a major challenge to the global energy retrofit systems market growth. Highly-priced and variability of the solution are the major factors due to which many end-users dissuade from installing energy retrofit systems. Moreover, for large buildings, deploying such solutions might take end-users a long time to recover the cost of installation.

For instance, vendors such as Johnson Controls and Honeywell set their prices based on per square foot. Such factors will affect the revenue of vendors and may hinder the growth of the market during the forecast period.

Key Energy Retrofit Systems Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Energy Retrofit Systems Market Share by Geography

Global Energy Retrofit Systems Market Customer Landscape

Who are the Major Energy Retrofit Systems Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

ameresco.com - The company offers energy retrofit systems such as weatherization, HVAC and plumbing, and energy management.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • AECOM
  • Chevron Corp.
  • Daikin Industries Ltd.
  • Danfoss AS
  • Dow Inc.
  • ENGIE SA
  • General Electric Co.
  • Johnson Controls International Plc
  • Koninklijke Philips NV
  • National LED Inc.
  • Ocean Insight
  • Orion Energy Systems Inc.
  • Redaptive Inc.
  • Renew Energy Partners LLC
  • ROI Energy Solutions Inc.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Energy Retrofit Systems Market?

Based on application, the market is segmented into non-residential and residential. The market share growth by the non-residential segment will be significant during the forecast period. The non-residential segment includes commercial and industrial. This segment dominated the market by application and is expected to dominate the market during the forecast period. The need to improve energy efficiency in emerging economies is expected to encourage many commercial buildings in the region to implement energy retrofit systems. Government regulations and growing awareness about the importance of energy efficiency are other reasons driving the growth of this segment.

Energy Retrofit Systems Market Size

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The non-residential segment was valued at USD 81.06 billion in 2017 and continue to grow by 2021The office buildings account for the maximum revenue among the non-residential buildings due to a growing need for ease in facility operations and streamlining processes and efficient workforce mobility. By adopting energy retrofit systems in office buildings, businesses can incorporate flexibility in terms of process operations and connect with their employees and other operational branches. Therefore, the adoption of energy retrofit systems is expected to drive the growth of the non-residential segment, which, in turn, is expected to propel the growth of the market in focus during the forecast period.

Which are the Key Regions for the Energy Retrofit Systems Market?

Energy Retrofit Systems Market Share by Geography

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Europe is projected to contribute 39% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. 

Europe accounts for the majority of the share in the energy retrofit systems market in 2022. It is expected to dominate the market in focus during the forecast period. The region's efforts to cut emissions and improve energy efficiency through residential and building renovation are driving the regional market in focus. 

This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. COVID-19 led to an upsurge in the demand for Europe.  However, in 2021, after the vaccination drive, the demand for construction activities increased for energy retrofit systems. For instance, in France, construction activities increased by 10.5% in 2021 after a fall of 14.4% in 2020. Furthermore, increasing construction investment is expected to drive the demand for energy retrofit systems in the region.  Such developments are expected to propel the growth of the regional market focus during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Application (Non-residential and Residential), Product (HVAC retrofit, Envelope, and LED retrofit lighting), and Geography (Europe, APAC, North America, Middle East and Africa, and South America).

  • Application Outlook (USD Billion, 2017 - 2027)
    • Non-residential
    • Residential
  • Product Outlook (USD Billion, 2017 - 2027)
    • HVAC retrofit
    • Envelope
    • LED retrofit lighting
  • Region Outlook (USD Billion, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Chile
      • Argentina
      • Brazil
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Energy Retrofit Systems Market Scope

Report Coverage

Details

Page number

165

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.84%

Market growth 2023-2027

USD 41.94 billion

Market structure

Fragmented

YoY growth (%)

4.62

Regional analysis

Europe, APAC, North America, Middle East and Africa, and South America

Performing market contribution

Europe at 39%

Key countries

US, China, Germany, France, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

AECOM, Ameresco Inc., Chevron Corp., Daikin Industries Ltd., Danfoss AS, Dow Inc., ENGIE SA, General Electric Co., Johnson Controls International Plc, Koninklijke Philips NV, National LED Inc., Ocean Insight, Orion Energy Systems Inc., Redaptive Inc., Renew Energy Partners LLC, ROI Energy Solutions Inc., Schneider Electric SE, Siemens AG, Signify NV, and Trane Technologies Plc

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Energy Retrofit Systems Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the energy retrofit systems market between 2023 and 2027
  • Precise estimation of the size of the energy retrofit systems market size and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behaviour
  • Growth of the market industry across Europe, APAC, North America, Middle East and Africa, and South America
  • Thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of energy retrofit systems market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global energy retrofit systems market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global energy retrofit systems market 2017 - 2021 ($ billion)
    • 4.2 Geography Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)
    • 4.3 Application Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ billion)
    • 4.4 Product Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Product Segment 2017 - 2021 ($ billion)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Application

    • 6.1 Market segments
      • Exhibit 30: Chart on Application - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Application - Market share 2022-2027 (%)
    • 6.2 Comparison by Application
      • Exhibit 32: Chart on Comparison by Application
      • Exhibit 33: Data Table on Comparison by Application
    • 6.3 Non-residential - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Non-residential - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 35: Data Table on Non-residential - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 36: Chart on Non-residential - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Non-residential - Year-over-year growth 2022-2027 (%)
    • 6.4 Residential - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Residential - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 39: Data Table on Residential - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 40: Chart on Residential - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Residential - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by Application
      • Exhibit 42: Market opportunity by Application ($ billion)

    7 Market Segmentation by Product

    • 7.1 Market segments
      • Exhibit 43: Chart on Product - Market share 2022-2027 (%)
      • Exhibit 44: Data Table on Product - Market share 2022-2027 (%)
    • 7.2 Comparison by Product
      • Exhibit 45: Chart on Comparison by Product
      • Exhibit 46: Data Table on Comparison by Product
    • 7.3 HVAC retrofit - Market size and forecast 2022-2027
      • Exhibit 47: Chart on HVAC retrofit - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 48: Data Table on HVAC retrofit - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 49: Chart on HVAC retrofit - Year-over-year growth 2022-2027 (%)
      • Exhibit 50: Data Table on HVAC retrofit - Year-over-year growth 2022-2027 (%)
    • 7.4 Envelope - Market size and forecast 2022-2027
      • Exhibit 51: Chart on Envelope - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 52: Data Table on Envelope - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 53: Chart on Envelope - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on Envelope - Year-over-year growth 2022-2027 (%)
    • 7.5 LED retrofit lighting - Market size and forecast 2022-2027
      • Exhibit 55: Chart on LED retrofit lighting - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 56: Data Table on LED retrofit lighting - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 57: Chart on LED retrofit lighting - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on LED retrofit lighting - Year-over-year growth 2022-2027 (%)
    • 7.6 Market opportunity by Product
      • Exhibit 59: Market opportunity by Product ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 61: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 62: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 63: Chart on Geographic comparison
      • Exhibit 64: Data Table on Geographic comparison
    • 9.3 Europe - Market size and forecast 2022-2027
      • Exhibit 65: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 66: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 67: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 68: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.4 APAC - Market size and forecast 2022-2027
      • Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.5 North America - Market size and forecast 2022-2027
      • Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.6 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.7 South America - Market size and forecast 2022-2027
      • Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.8 China - Market size and forecast 2022-2027
      • Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.9 US - Market size and forecast 2022-2027
      • Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.10 Germany - Market size and forecast 2022-2027
      • Exhibit 93: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 94: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 95: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.11 France - Market size and forecast 2022-2027
      • Exhibit 97: Chart on France - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 98: Data Table on France - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 99: Chart on France - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on France - Year-over-year growth 2022-2027 (%)
    • 9.12 UK - Market size and forecast 2022-2027
      • Exhibit 101: Chart on UK - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 102: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 103: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 105: Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 106: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 107: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 108: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 109: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 110: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 111: Matrix on vendor position and classification
            • 12.3 AECOM
              • Exhibit 112: AECOM - Overview
              • Exhibit 113: AECOM - Business segments
              • Exhibit 114: AECOM - Key news
              • Exhibit 115: AECOM - Key offerings
              • Exhibit 116: AECOM - Segment focus
            • 12.4 Ameresco Inc.
              • Exhibit 117: Ameresco Inc. - Overview
              • Exhibit 118: Ameresco Inc. - Business segments
              • Exhibit 119: Ameresco Inc. - Key offerings
              • Exhibit 120: Ameresco Inc. - Segment focus
            • 12.5 Daikin Industries Ltd.
              • Exhibit 121: Daikin Industries Ltd. - Overview
              • Exhibit 122: Daikin Industries Ltd. - Business segments
              • Exhibit 123: Daikin Industries Ltd. - Key news
              • Exhibit 124: Daikin Industries Ltd. - Key offerings
              • Exhibit 125: Daikin Industries Ltd. - Segment focus
            • 12.6 Dow Inc.
              • Exhibit 126: Dow Inc. - Overview
              • Exhibit 127: Dow Inc. - Business segments
              • Exhibit 128: Dow Inc. - Key news
              • Exhibit 129: Dow Inc. - Key offerings
              • Exhibit 130: Dow Inc. - Segment focus
            • 12.7 ENGIE SA
              • Exhibit 131: ENGIE SA - Overview
              • Exhibit 132: ENGIE SA - Business segments
              • Exhibit 133: ENGIE SA - Key offerings
              • Exhibit 134: ENGIE SA - Segment focus
            • 12.8 General Electric Co.
              • Exhibit 135: General Electric Co. - Overview
              • Exhibit 136: General Electric Co. - Business segments
              • Exhibit 137: General Electric Co. - Key news
              • Exhibit 138: General Electric Co. - Key offerings
              • Exhibit 139: General Electric Co. - Segment focus
            • 12.9 Johnson Controls International Plc
              • Exhibit 140: Johnson Controls International Plc - Overview
              • Exhibit 141: Johnson Controls International Plc - Business segments
              • Exhibit 142: Johnson Controls International Plc - Key news
              • Exhibit 143: Johnson Controls International Plc - Key offerings
              • Exhibit 144: Johnson Controls International Plc - Segment focus
            • 12.10 Koninklijke Philips NV
              • Exhibit 145: Koninklijke Philips NV - Overview
              • Exhibit 146: Koninklijke Philips NV - Business segments
              • Exhibit 147: Koninklijke Philips NV - Key news
              • Exhibit 148: Koninklijke Philips NV - Key offerings
              • Exhibit 149: Koninklijke Philips NV - Segment focus
            • 12.11 Ocean Insight
              • Exhibit 150: Ocean Insight - Overview
              • Exhibit 151: Ocean Insight - Product / Service
              • Exhibit 152: Ocean Insight - Key offerings
            • 12.12 Orion Energy Systems Inc.
              • Exhibit 153: Orion Energy Systems Inc. - Overview
              • Exhibit 154: Orion Energy Systems Inc. - Business segments
              • Exhibit 155: Orion Energy Systems Inc. - Key offerings
              • Exhibit 156: Orion Energy Systems Inc. - Segment focus
            • 12.13 Redaptive Inc.
              • Exhibit 157: Redaptive Inc. - Overview
              • Exhibit 158: Redaptive Inc. - Product / Service
              • Exhibit 159: Redaptive Inc. - Key offerings
            • 12.14 Renew Energy Partners LLC
              • Exhibit 160: Renew Energy Partners LLC - Overview
              • Exhibit 161: Renew Energy Partners LLC - Product / Service
              • Exhibit 162: Renew Energy Partners LLC - Key offerings
            • 12.15 Siemens AG
              • Exhibit 163: Siemens AG - Overview
              • Exhibit 164: Siemens AG - Business segments
              • Exhibit 165: Siemens AG - Key news
              • Exhibit 166: Siemens AG - Key offerings
              • Exhibit 167: Siemens AG - Segment focus
            • 12.16 Signify NV
              • Exhibit 168: Signify NV - Overview
              • Exhibit 169: Signify NV - Business segments
              • Exhibit 170: Signify NV - Key news
              • Exhibit 171: Signify NV - Key offerings
              • Exhibit 172: Signify NV - Segment focus
            • 12.17 Trane Technologies Plc
              • Exhibit 173: Trane Technologies Plc - Overview
              • Exhibit 174: Trane Technologies Plc - Business segments
              • Exhibit 175: Trane Technologies Plc - Key news
              • Exhibit 176: Trane Technologies Plc - Key offerings
              • Exhibit 177: Trane Technologies Plc - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 178: Inclusions checklist
                • Exhibit 179: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 180: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 181: Research methodology
                • Exhibit 182: Validation techniques employed for market sizing
                • Exhibit 183: Information sources
              • 13.5 List of abbreviations
                • Exhibit 184: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Energy Retrofit Systems market growth will increase by $41.94 billion during 2023-2027.
              The energy retrofit systems market is expected to grow at a CAGR of 5.84% during 2023-2027.
              Technavio has segmented the energy retrofit systems market by application (Non-residential and Residential) ,product (HVAC retrofit, Envelope, and LED retrofit lighting) , and geography (Europe, APAC, North America, Middle East and Africa, and South America).
              AECOM, Ameresco Inc., Chevron Corp., Daikin Industries Ltd., Danfoss AS, Dow Inc., ENGIE SA, General Electric Co., Johnson Controls International Plc, Koninklijke Philips NV, National LED Inc., Ocean Insight, Orion Energy Systems Inc., Redaptive Inc., Renew Energy Partners LLC, ROI Energy Solutions Inc., Schneider Electric SE, Siemens AG, Signify NV, Trane Technologies Plc are a few of the key vendors in the energy retrofit systems market.
              APAC will register the highest growth rate of 39.44% among the other regions. Therefore, the energy retrofit systems market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the energy retrofit systems market growth are:
              • Demand for energy efficiency
              • Rise in incorporation of building automation systems (BASs)
              The energy retrofit systems market vendors should focus on grabbing business opportunities from the non-residential segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
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