Energy Retrofit Systems Market Segmentation:
Product
The envelope segment in energy retrofit systems market is expected to hold the largest share of 42% during the forecast period. Retrofitting the building envelope promotes thermal comfort and minimizes drafts through the addition of insulation and an air barrier to the walls. Less heat is lost as a result, which reduces energy consumption and lowers carbon footprints for both owners and tenants. Additionally, research found that envelope retrofitting has the ability to help the benchmark home's energy use drop by about 30%.
Application
The commercial segment is set to capture a 52% share of the global energy retrofit systems market by 2035. The market is growing due to a growing demand for easy facility management, process efficiency, and effective labor mobility. Office buildings generate the most revenue among non-residential sector. In 2020, the market for commercial real estate was projected to be close to USD 33 trillion, with over USD 10 trillion anticipated for each of the areas of EMEA, Asia Pacific, and North America. In 2022, Whole Foods expanded its retail presence, to grow responsibly by reducing emissions in its operations, stores, and facilities. 45 Whole Foods stores now utilize low-GWP refrigerant systems, while 65 stores have been retrofitted to refrigerant R-448A. The latter has 68% lower GWP than legacy HFCs. Moreover, New York’s Whole Foods store has 100% HFC-free refrigeration operation.
Our in-depth analysis of the global energy retrofit systems market includes the following segments:
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