Latin America Energy Retrofit Systems Market Size & Outlook
Latin America energy retrofit systems market, 2018-2030 (US$B)
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Latin America energy retrofit systems market highlights
- The Latin America energy retrofit systems market generated a revenue of USD 1.3 billion in 2022.
- The market is expected to grow at a CAGR of 5.2% 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, Brazil is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 1.3 billion |
| Market revenue in 2030 | USD 2.0 billion |
| Growth rate | 5.2% (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, Latin America region accounted for 0.9% 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 53.85% in 2022. Horizon Databook has segmented the Latin America 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.
Central & South America (CSA) accounted for a share of over 0.92% of global energy retrofit systems market in 2020. The contribution of this region toward the growth of the market is relatively lesser than other regions of the world.
However, energy retrofit systems market in Central & South America is projected to grow at a significant rate in the coming years owing to initiatives undertaken by governments of countries in the region to reduce carbon footprint and heat emissions from buildings.
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Energy Retrofit Systems Market Scope
Energy Retrofit Systems Market Companies
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Latin America energy retrofit systems market size, by country, 2018-2030 (US$B)
Latin America Energy Retrofit Systems Market Outlook Share, 2022 & 2030 (US$B)
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