Canada Energy Retrofit Systems Market Size & Outlook
Canada energy retrofit systems market, 2018-2030 (US$B)
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Canada energy retrofit systems market highlights
- The Canada energy retrofit systems market generated a revenue of USD 6.1 billion in 2022 and is expected to reach USD 9.8 billion by 2030.
- The Canada market is expected to grow at a CAGR of 6.1% 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 6.1 billion |
| Market revenue in 2030 | USD 9.8 billion |
| Growth rate | 6.1% (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, Canada accounted for 4.1% 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 North America, U.S. energy retrofit systems market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 5.0 billion by 2030.
Envelope was the largest segment with a revenue share of 50.82% in 2022. Horizon Databook has segmented the Canada 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.
Canada is an emerging user of the energy retrofit system technology and is highly committed to its continuous advancement. Moreover, development of energy efficiency in the country is also part of a broad spectrum of measures taken by the government to meet carbon footprint reduction targets.
Government support favoring the installation of energy-efficient products in old and existing buildings drives the growth of the market in the country. For instance, in July 2019, Canada’s Natural Resources government announced to invest USD 4 million in retrofit homes in the First Nations community to meet a higher standard of energy efficiency.
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Energy Retrofit Systems Market Scope
Energy Retrofit Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada energy retrofit systems market size, by product, 2018-2030 (US$B)
Canada Energy Retrofit Systems Market Outlook Share, 2022 & 2030 (US$B)
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