Europe Energy Retrofit Systems Market Size & Outlook
Europe energy retrofit systems market, 2018-2030 (US$B)
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Europe energy retrofit systems market highlights
- The Europe energy retrofit systems market generated a revenue of USD 71.1 billion in 2022.
- The market is expected to grow at a CAGR of 6.2% 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, France is expected to register the highest CAGR from 2023 to 2030.
Europe data book summary
| Market revenue in 2022 | USD 71.1 billion |
| Market revenue in 2030 | USD 115.2 billion |
| Growth rate | 6.2% (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, Europe region accounted for 47.6% 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 51.62% in 2022. Horizon Databook has segmented the Europe 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.
Europe, led by the Germany, Spain, Russia, the UK, Italy, and France accounted for nearly 47.48% share of the global energy retrofit systems market in 2020. In 2020, Russia held the largest share of the European energy retrofit systems market.
Factors including growing concerns about greenhouse gas (GHG) emissions and strict regulations to decrease carbon footprint are projected to drive the adoption of the energy retrofit systems over the forecast period. The rising population coupled with increasing demand for efficient and clean energy is expected to propel the market.
The European region has been very active in using R&D for clean and efficient energy generation. Availability of funding in the European Union for energy conservation and energy efficiency projects has been one of the major factors driving the region's growth.
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Energy Retrofit Systems Market Scope
Energy Retrofit Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe energy retrofit systems market size, by country, 2018-2030 (US$B)
Europe Energy Retrofit Systems Market Outlook Share, 2022 & 2030 (US$B)
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