UK Energy Retrofit Systems Market Size & Outlook
UK energy retrofit systems market, 2018-2030 (US$B)
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UK energy retrofit systems market highlights
- The UK energy retrofit systems market generated a revenue of USD 12.3 billion in 2022 and is expected to reach USD 19.8 billion by 2030.
- The UK market is expected to grow at a CAGR of 6.1% 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 12.3 billion |
| Market revenue in 2030 | USD 19.8 billion |
| Growth rate | 6.1% (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, UK accounted for 8.2% 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 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 51.22% in 2022. Horizon Databook has segmented the UK 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.
Technological advancements and rapid deployment of energy retrofit systems in residential and nonresidential sectors are expected to steer future demand in the UK. With energy disclosure norms becoming mandatory for commercial sectors in the country and favorable government initiatives, such as energy-information initiatives across various building portfolios, are also anticipated to drive market growth over the forecast period.
In the UK, HVAC retrofitting is often more common in commercial buildings for decreasing energy consumption by 35 to 40% in high-rise buildings and by 30 to 35% in small offices. It provides more control over the temperature and humidity, resulting in better comfort for tenants. Also, retrofitting HVAC equipment is much more affordable than financing a complete commercial HVAC system replacement that gives a better ROI.
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Energy Retrofit Systems Market Scope
Energy Retrofit Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
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UK energy retrofit systems market size, by product, 2018-2030 (US$B)
UK Energy Retrofit Systems Market Outlook Share, 2022 & 2030 (US$B)
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