Asia Pacific Energy Retrofit Systems Market Size & Outlook
Asia Pacific energy retrofit systems market, 2018-2030 (US$B)
Related Markets
Asia Pacific energy retrofit systems market highlights
- The Asia Pacific energy retrofit systems market generated a revenue of USD 41.2 billion in 2022.
- The market is expected to grow at a CAGR of 6.4% from 2023 to 2030.
- In terms of segment, envelope was the largest revenue generating product in 2022.
- LED Retrofit Lighting is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2023 to 2030.
Asia Pacific data book summary
| Market revenue in 2022 | USD 41.2 billion |
| Market revenue in 2030 | USD 67.6 billion |
| Growth rate | 6.4% (CAGR from 2022 to 2030) |
| Largest segment | Envelope |
| Fastest growing segment | LED Retrofit Lighting |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Envelope, LED Retrofit Lighting, HVAC Retrofit, Appliances |
| Key market players worldwide | Daikin Industries Ltd, Eaton Corp PLC, AECOM, Johnson Controls International PLC, Ameresco Inc Class A, Siemens AG, Trane Technologies PLC Class A, Orion Group Holdings Inc, Orion Energy Systems Inc, Signify NV, Engie SA, GE Aerospace, Schneider Electric SE |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 27.5% of the global energy retrofit systems market in 2022.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 67.6 billion by 2030.
Envelope was the largest segment with a revenue share of 51.46% in 2022. Horizon Databook has segmented the Asia Pacific energy retrofit systems market based on envelope, led retrofit lighting, hvac retrofit, appliances covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific accounted for a share of 27.40% of the global energy retrofit systems market in 2020. The market in this region is led by China, Japan, and India. The reduction in renewable energy costs and the decrease in infrastructure costs promote the rapid production of energy modernization systems in the region, leading to the increasing adoption of these systems by residential and commercial end users in Asia Pacific.
The Government of China has launched several plans and policies, such as a three-star rating system, to promote the development of environment-friendly new green buildings and retrofit the existing ones in the country. In the past 10 years, the central government of the country has reasonably expanded the enforcement scope of laws and regulations.
These energy building codes establish the prerequisites that must be followed during the construction of all new residential and non-residential buildings in each city of China.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Energy Retrofit Systems Market Scope
Energy Retrofit Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific energy retrofit systems market size, by country, 2018-2030 (US$B)
Asia Pacific Energy Retrofit Systems Market Outlook Share, 2022 & 2030 (US$B)
Related industry reports
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
