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IN THE NEWSThe global net-zero energy buildings market is estimated to grow at a CAGR of ~20% over the forecast period, i.e., 2022 – 2030. Net-zero energy buildings are capable to produce energy on-site equal to their total energy consumption, or more. The growth of the market can be attributed to the constantly amplifying investment by various governments around the world to reduce carbon emission and adopt green energy. Various initiatives are being taken to prevent, or at least delay the 1.5-degree Celsius rise in the global temperature caused by global warming. However, these steps fall short to bring a noticeable difference in the global scenario, which is why, government is focusing on increasing green energy initiatives. This is the primary factor estimated to boost the market growth. A report by the International Energy Agency (IEA) stated that around USD 4 trillion must be added to the annual clean energy investment by 2030 in order to reach net zero emissions by 2050. Buildings are a major source of carbon emission, including construction, and various other activities. The increasing adoption of solar energy is also anticipated to boost the market growth.
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The market is segmented by energy source into solar energy, bio gas, and others, out of which, the solar energy segment is anticipated to hold the largest share in the global net-zero energy buildings market over the forecast period on account of high adoption of solar energy amongst residential as well as industrial buildings, apart from utility scale solar farms. The goal of net-zero energy buildings is to generate the energy that they use, and solar energy is the most feasible option to generate energy. The abundance of sunlight, ease of installing solar panels, and government subsidies on solar panels is estimated to boost the segment growth.
In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government-imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.
On the basis of geographical analysis, the global net-zero energy buildings market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of high potential of energy conservation in the region, backed by the growing population, increasing demand for power, and economic development.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing government initiatives for environment conservation, along with high public awareness regarding carbon emission. Presence of major market players, and adoption of advanced technology are projected to fuel the market growth.
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The global net-zero energy buildings market is further classified on the basis of region as follows:
Our in-depth analysis of the global net-zero energy buildings market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The increasing government initiatives to curb carbon emission is expected to boost the market growth.
The market is anticipated to attain a CAGR of ~20% over the forecast period, i.e., 2022 – 2030.
Requirement of large initial investment is estimated to hamper the market growth.
The market in the North America region is estimated to provide more business opportunities owing to the higher environment awareness in the region.
The major players in the market are Daikin Industries, Ltd., Kingspan Group plc, Rockwool International A/S, SAGE Electrochromics, Inc., Schneider Electric SE, Siemens AG, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by energy source, end-user, and by region.
The commercial segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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