China Energy Retrofit Systems Market Size & Outlook
China energy retrofit systems market, 2018-2030 (US$B)
Related Markets
China energy retrofit systems market highlights
- The China energy retrofit systems market generated a revenue of USD 18.0 billion in 2022 and is expected to reach USD 28.2 billion by 2030.
- The China market is expected to grow at a CAGR of 5.8% 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 18.0 billion |
| Market revenue in 2030 | USD 28.2 billion |
| Growth rate | 5.8% (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, China accounted for 12.0% 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 Asia Pacific, China energy retrofit systems market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 9.8 billion by 2030.
Envelope was the largest segment with a revenue share of 52.22% in 2022. Horizon Databook has segmented the China 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.
China is recognized as one of the fastest-growing economies in Asia Pacific owing to its rapidly flourishing manufacturing sector supported by the government of the country. China accounted for the largest share of energy retrofit systems market in Asia Pacific in 2020.
The market in the country is projected to grow at a significant CAGR over the forecast period. The Government of China has been actively investing in energy-efficient power generation in the country. It has also opened channels for foreign investments in the country that are expected to further fuel the growth of energy retrofit systems market in China.
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Energy Retrofit Systems Market Scope
Energy Retrofit Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
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China energy retrofit systems market size, by product, 2018-2030 (US$B)
China Energy Retrofit Systems Market Outlook Share, 2022 & 2030 (US$B)
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