Zero energy buildings are gaining popularity in the architecture and construction industries due to growing awareness and shift towards energy efficient solutions and need for sustainability. While the zero energy buildings are generally newly constructed buildings, existing buildings can also be refurbished and turned into zero energy buildings. Market Research Future, in their latest report, has stated that the global zero energy building market is estimated to exhibit a robust CAGR of 10-12% during the forecast period.
Several factors are contributing significantly to the growth of the market. Reduction in water consumption and recycling of wastewater using sewage treatment plants are some of the features offered by zero energy buildings. Further, low water demand in landscaping, lower greenhouse gas emissions, and the use of geothermal cooling are also some features of ZEBs that are accelerating the adoption rates for the same.
Moreover, zero energy buildings provide the same building performance as conventional buildings, while minimizing the consumption of non-renewable resources and reducing the carbon footprint of the same. Also, green building codes, policies, and initiatives from various district and state level authorities are estimated to promote the deployment of zero energy buildings through the review period. Additionally, stringent regulations for building codes and the ever-increasing need for natural energy conservation are also likely to boost the global zero energy buildings market.
The global zero energy buildings market is segmented by equipment, application, and region by Market Research Future. Based on equipment, the global zero energy buildings market is segmented into lighting, HVAC systems, and walls and roofs. On the basis of application, the zero energy buildings market is segmented into residential buildings and non-residential buildings.
Detailed Regional Analysis
The global ZEBs market is regionally segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. North America was the frontrunner in the zero energy buildings market in 2016 and is projected to witness remarkable growth during the assessment period. Canada and the U.S. are the early adopters of the zero energy building technology, making them the largest country-specific markets in the region. Further, Europe is witnessing higher rates of ZEB adoption, owing to the dependence of sustainability of the economy on resource efficiency and renewable energy. Stringent government policies and massive deployment of zero energy buildings are likely to push the market growth in Europe.
The global zero energy buildings market appears to be dynamic and is likely to witness numerous growth opportunities in the foreseeable future. Due to ZEBs having higher positive influences on the environment, as well as, businesses, the market players are focusing on the application of ZEBs in all facets of construction and architecture. These comprise commercial as well as residential facilities including retail, office, educational, and government buildings. The industry has also responded with numerous innovative solutions for the public and private sectors. Incorporation of tools that lower energy consumption and enabling of different energy efficient strategies are a couple of those solutions. Further, with buildings accounting for nearly 40% of the total global energy consumption, there is a need to redesign them. Hence, governments are providing numerous supportive initiatives, prompting market players to dive into new zero energy building constructions as well as retrofitting of existing buildings with energy efficient technologies.
Key Market Players
The global zero energy buildings market brags a presence of many significant players including Johnson Controls International Plc (U.S.), SunPower Corporation (U.S.), Kingspan Group (Ireland), General Electric (U.S.), Siemens AG, and Schneider Electric SE, Solatube International, Inc. (U.S.), and Saint-Gobain.
January 2019: The National University of Singapore launched its first zero energy building, that stands six-stories high. The building is designed to consume only as much energy as it produces. It also features an overhanging roof to enable extra shading and to enhance the coolness maintained in the rooms.
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