U.S. Energy Retrofit Systems Market Size & Outlook
U.S. energy retrofit systems market, 2018-2030 (US$B)
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U.S. energy retrofit systems market highlights
- The U.S. energy retrofit systems market generated a revenue of USD 25.7 billion in 2022 and is expected to reach USD 39.2 billion by 2030.
- The U.S. market is expected to grow at a CAGR of 5.4% 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.
Energy retrofit systems market data book summary
| Market revenue in 2022 | USD 25.7 billion |
| Market revenue in 2030 | USD 39.2 billion |
| Growth rate | 5.4% (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, U.S. accounted for 17.2% 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 North America, U.S. energy retrofit systems market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 5.0 billion by 2030.
Envelope was the largest segment with a revenue share of 51.36% in 2022. Horizon Databook has segmented the U.S. 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.
Buildings in the U.S. consumed 40% of the overall electricity in 2020. The life span of the buildings in the U.S. is about 32 years. Hence, retrofitting the buildings with advanced technologies, such as LED and HVAC, will enhance the life and ensure long-term cost savings for homeowners and businesses.
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Energy Retrofit Systems Market Scope
Energy Retrofit Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. energy retrofit systems market size, by product, 2018-2030 (US$B)
U.S. Energy Retrofit Systems Market Outlook Share, 2022 & 2030 (US$B)
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