Russia Energy Retrofit Systems Market Size & Outlook
Russia energy retrofit systems market, 2018-2030 (US$B)
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Russia energy retrofit systems market highlights
- The Russia energy retrofit systems market generated a revenue of USD 12.7 billion in 2022 and is expected to reach USD 19.2 billion by 2030.
- The Russia market is expected to grow at a CAGR of 5.3% 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 12.7 billion |
| Market revenue in 2030 | USD 19.2 billion |
| Growth rate | 5.3% (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, Russia accounted for 8.5% 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 Europe, UK energy retrofit systems market is projected to lead the regional market in terms of revenue in 2030.
- France is the fastest growing regional market in Europe and is projected to reach USD 16.3 billion by 2030.
Envelope was the largest segment with a revenue share of 52.76% in 2022. Horizon Databook has segmented the Russia 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 Russia, the residential application market is expected to grow significantly over the forecast period. Increasingly expensive residential properties and laws protecting older buildings have brought modifications to prominence, as customers are opting for changes. Also, homeowners can control their energy bills by upgrading their systems, which positively reduces their carbon footprint.
Overall, rapid urbanization and increasing construction activities across various sectors in the country are expected to fuel the market demand in the upcoming years. However, with the onset of the COVID-19 pandemic, the short-term forecast shows a decline in demand due to delay in construction.
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Energy Retrofit Systems Market Scope
Energy Retrofit Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
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Russia energy retrofit systems market size, by product, 2018-2030 (US$B)
Russia Energy Retrofit Systems Market Outlook Share, 2022 & 2030 (US$B)
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