Brazil Energy Retrofit Systems Market Size & Outlook
Brazil energy retrofit systems market, 2018-2030 (US$B)
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Brazil energy retrofit systems market highlights
- The Brazil energy retrofit systems market generated a revenue of USD 0.3 billion in 2022 and is expected to reach USD 0.5 billion by 2030.
- The Brazil market is expected to grow at a CAGR of 6.3% 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.
Energy retrofit systems market data book summary
| Market revenue in 2022 | USD 0.3 billion |
| Market revenue in 2030 | USD 0.5 billion |
| Growth rate | 6.3% (CAGR from 2022 to 2030) |
| Largest segment | Envelope |
| Fastest growing segment | LED Retrofit Lighting |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 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, Brazil accounted for 0.2% of the global energy retrofit systems market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil energy retrofit systems market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 0.5 billion by 2030.
Envelope was the largest segment with a revenue share of 66.67% in 2022. Horizon Databook has segmented the Brazil 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.
Brazil emerged as the largest market for energy retrofit systems in Central & South America in 2020. Energy retrofit systems are more popular in Brazil than in other South American countries owing to growing infrastructures and surging investments in the country to make public and residential buildings in Brazil energy efficient.
According to Brazilian Government, the energy consumption by buildings accounted for a share of 15% of the overall energy consumed in Brazil in 2020. Hence, retrofitting old and existing buildings in the country with LED bulbs, HVAC systems, envelopes, and appliances will increase their energy efficiency and decrease excess heat from them.
Moreover, the Government of Brazil has proposed an action plan to reduce electricity consumption in commercial buildings of the country by 10% by 2030. This is expected to support the growth of energy retrofit systems market in Brazil from 2021 to 2028.
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Energy Retrofit Systems Market Scope
Energy Retrofit Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
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Brazil energy retrofit systems market size, by product, 2018-2030 (US$B)
Brazil Energy Retrofit Systems Market Outlook Share, 2022 & 2030 (US$B)
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