UAE Energy Retrofit Systems Market Size & Outlook
UAE energy retrofit systems market, 2018-2030 (US$B)
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UAE energy retrofit systems market highlights
- The UAE energy retrofit systems market generated a revenue of USD 0.3 billion in 2022 and is expected to reach USD 0.5 billion by 2030.
- The UAE market is expected to grow at a CAGR of 4.7% 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 0.3 billion |
| Market revenue in 2030 | USD 0.5 billion |
| Growth rate | 4.7% (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, UAE accounted for 0.2% 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 Middle East & Africa, UAE energy retrofit systems market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 0.3 billion by 2030.
Envelope was the largest segment with a revenue share of 66.67% in 2022. Horizon Databook has segmented the UAE 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 the U.A.E., policymakers are focusing on developing efficient energy generation products, which, in turn, is anticipated to increase the deployment of energy retrofit systems in the country. Moreover, government initiative to introduce new technology in the market to provide retrofit in existing buildings drives the growth of the market.
Companies in the U.A.E. are working on projects to promote energy retrofit systems in the country, which drives the growth of the market. For instance, in 2019, Ras Al Khaimah Economic Zone (RAKEZ) signed a contract with the Smart4Power, for a retrofit project that covered nine buildings including a district cooling plant.
According to the agreement, Smart4Power will implement a series of water and energy conservation measures such as the addition of adiabatic cooling for chillers, improvement of cooling systems, LED light replacements, and installation of water-saving devices.
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Energy Retrofit Systems Market Scope
Energy Retrofit Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
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UAE energy retrofit systems market size, by product, 2018-2030 (US$B)
UAE Energy Retrofit Systems Market Outlook Share, 2022 & 2030 (US$B)
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