Middle East & Africa Energy Retrofit Systems Market Size & Outlook
Middle East & Africa energy retrofit systems market, 2018-2030 (US$B)
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MEA energy retrofit systems market highlights
- The MEA energy retrofit systems market generated a revenue of USD 1.0 billion in 2022.
- The market is expected to grow at a CAGR of 4.4% 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, Saudi Arabia is expected to register the highest CAGR from 2023 to 2030.
MEA data book summary
| Market revenue in 2022 | USD 1.0 billion |
| Market revenue in 2030 | USD 1.4 billion |
| Growth rate | 4.4% (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, MEA region accounted for 0.6% 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 50% in 2022. Horizon Databook has segmented the Middle East & Africa 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.
In recent years, the rapid increase in industrialization and population in the Middle East and Africa have led to a rise in energy consumption. Several declarations from authorities in recent years have emphasized a steady change toward improved energy efficiency in the region.
For instance, Dubai’s statewide energy strategy required the energy demand as well as greenhouse emissions to be reduced by 30% until 2030. Such initiatives are anticipated to drive the demand for energy retrofit systems in the region.
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Energy Retrofit Systems Market Scope
Energy Retrofit Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
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MEA energy retrofit systems market size, by country, 2018-2030 (US$B)
Middle East & Africa Energy Retrofit Systems Market Outlook Share, 2022 & 2030 (US$B)
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