The global Zero-Energy Buildings Market Growth is expected to exhibit a strong 31.67% CAGR over the forecast period till 2028, according to the latest research report from Market Research Future (MRFR). The global zero energy buildings market is mainly driven by the growing awareness among customers as well as the growing government support to the construction of zero energy buildings, according to the report. The report examines all major drivers and restraints affecting the global zero energy buildings market. The major players in the zero energy buildings market are also profiled in the report, in order to give readers an accurate overview of the competitive landscape of the market. The report also examines the impact of the COVID-19 pandemic on the global zero energy buildings market.
Zero energy buildings are buildings that offset their consumption of conventional energy through energy saving measures and on-site generation of renewable energy. This includes the use of smart HVAC, lighting, and other appliances to make sure the energy consumption is valid and reasonable. The development of smart HVAC and lighting technology, within the larger aegis of smart home technology, has been a major driver for the zero energy buildings market. As consumers have become more and more aware of the benefits of smart home technology, electronics manufacturers have come up with more and more technological solutions to cater to the growing demand. The growing consumer awareness about smart home technology is likely to lead to more development in the field in the coming years, leading to growing demand from the zero energy buildings market over the forecast period.
Consumer awareness is likely to remain a major driver for the global zero energy buildings market over the forecast period. Many consumers have become aware to the growing ecological problems plaguing the planet and are looking for ways to make concrete contributions to alleviating the problem. Residential as well as commercial consumers are looking for ways to become part of the solution rather than the problem, leading to more demand for zero energy buildings.
Growing government support for energy and buildings is also likely to be a major driver for the global zero energy buildings market over the forecast period. Governments around the world have made it a priority to reduce their carbon emissions and overall ecological footprint, leading to many incentives and subsidies on the use of smart home and zero energy technology.
Competitive Leaderboard:
Leading players in the global zero energy buildings market include Saint-Gobain, Solatube International Inc., Kingspan Group, SunPower Corporation, Siemens, Schneider Electric, Honeywell International Inc., Johnson Controls International plc, General Electric, and Daikin Industries Ltd.
Segmentation:
The global zero energy buildings market is segmented on the basis of equipment, application, and region.
By equipment, the global zero energy buildings market is segmented into HVAC systems, lighting, walls and roofs, and others. The HVAC systems segment dominates the global zero energy buildings market. HVAC systems are a major consumer of energy in any establishment, making them the prime target for energy saving solutions.
By application, the global zero energy buildings market is segmented into residential and non-residential. The non-residential segment dominates the global zero energy buildings market. The larger area of non-residential construction projects makes them ideal for the installation of renewable energy generation solutions. Government incentives for commercial entities also make it an attractive proposition. Residential consumers are also becoming more aware about the various ways in which zero energy technology can be implemented in their households, making the segment important for the global zero energy buildings market over the forecast period.
Regional Analysis:
North America dominates the global zero energy buildings market, followed by Europe. High awareness among consumers about zero energy technology is the major driver for the zero energy buildings market in North America. High economic incentives for commercial entities to install zero energy technology are also a major driver for the zero energy buildings market in the region.
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