Surge in Demand and Advancements Propel Growth of Zero Energy Buildings Market

According to market research future insights analysis, the global zero energy buildings market is expected to register a CAGR of 28.4% from 2023 to 2032 and hold a value of over USD 238.09 billion by 2032.

Focusing on using renewable resources like solar energy is the main factor driving the growth of the market for zero-energy buildings. If fewer non-renewable resources are used in the building’s construction, attention can be directed toward growing the market for zero-energy buildings. People want to build buildings with proper air ventilation, energy-efficient heating and cooling systems, and natural ventilation to minimize energy consumption and prevent global warming. Furthermore, people’s adaptation to low-energy-efficient buildings is the primary factor driving the market growth for zero-energy buildings. People are now properly informed about the drawbacks of using non-renewable sources of energy for construction. Another factor driving the expansion of the market size is their understanding of the zero-energy market, which won’t release carbon dioxide into the atmosphere, harm the environment, or alter the climate. Although the market for zero-energy buildings isn’t growing as quickly as it should, more and more people are using it to build their buildings.

Additionally, the government’s initiatives to reduce the use of non-renewable resources and increase the use of renewable resources are among the many factors that focus on the growth of the market for zero-energy buildings. This is one of the best chances to support the market. On the other hand, the primary barrier limiting the market for zero-energy buildings’ potential growth is the general lack of public knowledge. Moreover, there aren’t enough skilled workers to create buildings with zero-energy products.

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Regional Analysis

North America dominated the market for zero energy buildings in 2021, contributing to over three-fourths of the market share for zero-energy buildings. This occurs due to growing consumer awareness of goods that reduce carbon emissions. This expansion is also attributable to the rise in green building construction in nations like the U.S., Mexico, and Canada. The U.S. energy department’s and local organizations’ efforts to achieve the sustainability of existing and new buildings, along with factors like the strict laws established by the U.S. government, are the main factors driving the market growth.

Asia Pacific is expected to register lucrative growth in the market for zero energy buildings due to rising government environmental conservation programs and widespread public knowledge of carbon emissions. Major market players’ presence and the uptake of cutting-edge technologies are expected to fuel market expansion. Additionally, it is anticipated that growing infrastructural investments and local awareness of the advantages of green buildings will propel market expansion.

Market Segmentation

The global zero energy buildings market has been segmented into equipment and application.

Based on equipment, the market has been segmented into HVAC system, lighting and walls & roofs and others. The HVAC category accounted for the largest share of the market in 2021. Energy-intensive HVAC systems are used in zero-energy structures. They can also be combined with other building systems, such as the domestic hot water (DHW) system. This contributes to reducing energy consumption and increasing energy efficiency. The expensive HVAC equipment, which is the essential component of the ZNE setup and cannot be avoided, is responsible for the segment’s high income. On the other hand, the lighting and walls & roofs category is anticipated to grow significantly. The lighting apparatus consists of lighting that uses the least amount of energy possible while still operating at a high level of effectiveness and longevity. Paneling and roofing materials, systems, and solutions make up the walls and roofing equipment needed to erect ZEBs.

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Based on the application, the market has been segmented into non-residential and residential. The non-residential category accounted for the largest revenue share in 2021 in the zero energy buildings market due to stronger adoption and demand than the residential sector. Creating a new ZNE project is more expensive than renovating an existing building into a practically zero-emission facility. Government and regulatory authorities encourage the private sector to boost its involvement in green initiatives and projects following current legislation. On the other hand, the residential category is anticipated to grow significantly, attributable to efforts made by regional organizations to raise awareness of the advantages of ZNE and the growing need for environmental conservation.

Key Players

Daikin Industries Ltd (Japan), General Electric (US), Johnson Controls International plc (Ireland), Honeywell International Inc (US), Schneider Electric (France), Siemens (Spain), SunPower Corporation (US), Kingspan Group (Ireland), Solatube International Inc (US), Saint-Gobain (France)

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Contact Information:

Contact: Market Research Future (Part of Wantstats Research and Media Private Limited) 99 Hudson Street, 5Th Floor New York, NY 10013 United States of America +1 628 258 0071 (US) +44 2035 002 764 (UK) Email: sales@marketresearchfuture.com Website: https://www.marketresearchfuture.com

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