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Energy Retrofits for Commercial and Public Buildings Market

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    Report

  • 154 Pages
  • January 2025
  • Region: Global
  • BCC Research
  • ID: 6040173
Description Jump to:
The Energy Retrofits for Commercial and Public Buildings Market was valued at USD 134.7 billion in 2024, and is expected to reach USD 191.3 billion by 2029, rising at a CAGR of 7.30%.

The demand for energy efficiency and sustainability in public and commercial buildings is increasing steadily. Modern buildings emphasize energy efficiency, but older ones largely ignored sustainability. Around 80% of today’s buildings will remain in use by 2050. Considering that many of these buildings are older and less energy-efficient, improving their energy performance is crucial and practical.

Energy management in older buildings saves costs by lowering electricity bills, which further increases affordability and accessibility to public and commercial spaces. Deep energy retrofits are extensive modifications that result in significant energy savings, often incorporating high-performance insulation and renewable energy systems. Advances in smart building technology, deep energy retrofits and the efforts to achieve zero-energy building status should drive the demand for energy retrofits in public and commercial buildings. Also, the integration of IoT, digital twin, sensors and building automation technologies helps real-time monitoring and optimization of energy consumption. Green funding alternatives and occupant engagement strategies incentivize energy-efficient retrofit projects, highlighting the role of energy retrofits in creating sustainable environments in public and commercial buildings.

Report Scope

This report segments the market based on retrofit, product and building types. The report discusses the advances in technology, regulations, competitive aspects and economic trends that influence the market. The analysis includes a patent review of energy retrofits for commercial and public buildings market, which depicts a strong investment prospect for technology investors. The study also presents Porter’s Five Forces analysis, an ESG development chapter, emerging technologies and various macro-economic factors. The report concludes with detailed profiles of the major companies that provide energy retrofits for commercial and public buildings.

The report includes a regional analysis of energy retrofits covering North America, Europe, Asia-Pacific and Rest of the World (RoW), which includes South America, the Middle East and Africa. Country analysis includes the U.S., Germany, the U.K. and China, examining the current and future factors influencing demand. The study uses 2023 as the base year, 2024 as an estimated year and projections are for the period 2024 through 2029, including forecasts of compound annual growth rates (CAGR) for the forecast period. All market values are in millions of dollars. The scope of the study does not include the residential and industrial buildings.

The report includes:

  • 43 data tables and 58 additional tables
  • Analyses of trends in the global market for energy retrofits for commercial and public buildings, with market revenue data for 2023, estimates for 2024, forecasts for 2025 and 2027, and projected CAGRs through 2029
  • Estimates of the global market size and revenue growth prospects, along with a market share analysis by retrofit (technology) type, product type, building type, and region
  • Facts and figures pertaining to the market dynamics, technical advances, regulations, and the impact of region- and industry-specific macroeconomic factors
  • Insights derived from the Porter’s Five Forces model, as well as global supply chain and PESTLE analyses
  • Key enabling technologies for energy retrofit technologies used in building applications, and their commercial or developmental status
  • Analysis of key patent grants and patent applications
  • A look at supportive government programs and policies for energy retrofit technologies
  • Overview of sustainability trends and ESG developments, with emphasis on consumer attitudes, and the ESG scores and practices of leading companies
  • Analysis of the industry structure, including companies’ market shares and rankings, strategic alliances, M&A activities, and a venture funding outlook
  • Company profiles of leading players, including Carrier, AECOM, Johnson Controls, Honeywell International Inc., and Trane Technologies Plc.

Table of Contents

Chapter 1 Executive Summary
  • Market Outlook
  • Scope of Report
  • Market Summary
  • Market Dynamics and Growth Factors
  • Segmental Analysis
  • Regional Insights and Emerging Markets
  • Conclusion
Chapter 2 Market Overview
  • Market Overview and Future Scenarios
  • Value Chain Analysis
  • Raw Material Suppliers
  • Component Manufacturers
  • Technology and System Integrator
  • Aftermarket Sales Channel
  • End Users
  • Stages Involved in Energy Retrofitting Building
  • Internal Assessment
  • Detailed Energy Survey
  • Technical Survey
  • Cost-Benefit Analysis
  • Implementation
  • Operation and Maintenance
  • Porter's Five Forces Analysis
  • Bargaining Power of Buyers
  • Bargaining Power of Suppliers
  • Potential for New Entrants to the Market
  • Competition in the Industry
  • Threat of Substitutes
  • Impact of Russia-Ukraine War
  • Regulatory Outlook
  • Case Studies for Energy Retrofit Projects in Buildings
  • Pall Mall
  • Tempo
  • 385 Bourke Street (High-Rise Office Building)
Chapter 3 Market Dynamics
  • Overview
  • Market Drivers
  • Supportive Government Regulations and Incentives to Improve Energy Efficiency in Buildings
  • Growing Initiatives to Reduce Greenhouse Gas Emissions
  • Increasing Focus on Harnessing Power from Clean Energy Sources
  • Market Restraints
  • Lack of Awareness among Consumers for Energy Retrofits
  • High Initial Investment
  • Market Opportunities
  • Investments in Building Renovations Are Opening Doors for the Retrofitting Market
  • Technological Innovations in Energy Retrofit Systems
  • Market Trends
  • Increasing Focus on Building Automation Systems (BAS) to Promote Sustainability in Buildings
  • Growing Popularity for Integrating Smart Building Technology
  • Short-Term and Long-Term Impact of Market Dynamics
Chapter 4 Emerging Technologies and Developments
  • Overview
  • Emerging Technologies/Applications
  • Technological Landscape
  • Role of Advanced Technologies
  • Patent Analysis
  • Overview
  • Key Patents
  • Key Takeaways for Patent Analysis
Chapter 5 Market Segmentation Analysis
  • Segmentation Breakdown
  • Global Energy Retrofits Market, by Retrofit Type
  • Key Takeaways for Retrofit Type
  • Quick Wins
  • Deep Retrofit
  • Global Energy Retrofits for Commercial and Public Buildings Market, by Product Type
  • Key Takeaways for Product Type
  • Building Envelope
  • HVAC
  • Energy-Efficient Lighting
  • Electricity Submeters
  • Green Roofs
  • Others
  • Global Energy Retrofits Market, by Building Type
  • Key Takeaways for Building Type
  • Commercial Buildings
  • Public Buildings
  • Geographic Breakdown
  • Key Takeaways
  • Global Energy Retrofits Market, by Region
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
Chapter 6 Competitive Intelligence
  • Overview
  • Market Ranking for Top Players
  • Key Developments
Chapter 7 Sustainability in the Energy Retrofits for Commercial and Public Buildings: An ESG Perspective
  • Overview
  • Environmental Impact
  • Social Impact
  • Governance Impact
  • Status of ESG in the Global Energy Retrofit Industry
  • Case Study: Examples of Successful Implementation of ESG
  • Siemens
  • Honeywell International Inc.
  • Johnson Controls Inc.
  • Schneider Electric
  • Carrier
  • Consumer Attitudes Towards ESG
  • Concluding Remarks
Chapter 8 Appendix
  • Methodology
  • Research Steps
  • References
  • Abbreviations
  • Company Profiles
  • Aecom
  • Ameresco
  • American Hydrotech Inc.
  • Carrier
  • Copeland LP
  • Daikin Industries Ltd.
  • Eaton
  • Honeywell International Inc.
  • Johnson Controls
  • Lennox International Inc.
  • Metrus Energy Inc.
  • Orion Energy Systems Inc.
  • Schneider Electric
  • Signify Holding
  • Trane Technologies PLC
  • Emerging and Small Players in the Global Energy Retrofits for Commercial and Public Buildings Market
List of Tables
Summary Table: Global Market for Energy Retrofits in Commercial and Public Buildings, by Region, Through 2029
Table 1: Building Retrofit Policies
Table 2: Pall Mall: Project Details
Table 3: Tempo: Project Details
Table 4: Impact of Market Drivers
Table 5: Impact of Market Opportunities
Table 6: Impact of Market Restraints
Table 7: Granted Patent Count for Energy Retrofits in Commercial and Public Buildings, January 2022-September 2024
Table 8: Key Published Patents for Energy Retrofits in Commercial and Public Buildings, 2023 and 2024
Table 9: Global Market for Energy Retrofits in Commercial and Public Buildings, by Retrofit Type, Through 2029
Table 10: Global Market for Quick Wins in Energy Retrofits for Commercial and Public Buildings, by Region, Through 2029
Table 11: Global Market for Deep Energy Retrofits in Commercial and Public Buildings, by Region, Through 2029
Table 12: Global Market for Energy Retrofits for Commercial and Public Buildings, by Product Type, Through 2029
Table 13: Global Market for Building Envelopes in Energy Retrofits for Commercial and Public Buildings, by Region, Through 2029
Table 14: Global Market for HVAC in Energy Retrofits for Commercial and Public Buildings, by Region, Through 2029
Table 15: Global Market for Energy-Efficient Lighting in Energy Retrofits for Commercial and Public Buildings, by Region, Through 2029
Table 16: Global Market for Electricity Submeters in Energy Retrofits for Commercial and Public Buildings, by Region, Through 2029
Table 17: Global Market for Green Roofs in Energy Retrofits, by Region, Through 2029
Table 18: Global Market for Other Products in Energy Retrofits for Commercial and Public Buildings, by Region, Through 2029
Table 19: Global Market for Energy Retrofits in Commercial and Public Buildings, by Building Type, Through 2029
Table 20: Global Market for Commercial Buildings in Energy Retrofits, by Region, Through 2029
Table 21: Global Market for Energy Retrofits in Public Buildings, by Region, Through 2029
Table 22: Global Market for Energy Retrofits in Commercial and Public Buildings, by Region, Through 2029
Table 23: North American Market for Energy Retrofits in Commercial and Public Buildings, by Retrofit Type, Through 2029
Table 24: North American Market for Energy Retrofits in Commercial and Public Buildings, by Product Type, Through 2029
Table 25: North American Market for Energy Retrofits in Commercial and Public Buildings, by Building Type, Through 2029
Table 26: North American Market for Energy Retrofits in Commercial and Public Buildings, by Country, Through 2029
Table 27: European Market for Energy Retrofits in Commercial and Public Buildings, by Retrofit Type, Through 2029
Table 28: European Market for Energy Retrofits in Commercial and Public Buildings, by Product Type, Through 2029
Table 29: European Market for Energy Retrofits in Commercial and Public Buildings, by Building Type, Through 2029
Table 30: European Market for Energy Retrofits in Commercial and Public Buildings, by Country, Through 2029
Table 31: Asia-Pacific Market for Energy Retrofits for Commercial and Public Buildings, by Retrofit Type, Through 2029
Table 32: Asia-Pacific Market for Energy Retrofits in Commercial and Public Buildings, by Product Type, Through 2029
Table 33: Asia-Pacific Market for Energy Retrofits in Commercial and Public Buildings, by Building Type, Through 2029
Table 34: Asia-Pacific Market for Energy Retrofits in Commercial and Public Buildings, by Country, Through 2029
Table 35: RoW Market for Energy Retrofits in Commercial and Public Buildings, by Retrofit Type, Through 2029
Table 36: RoW Market for Energy Retrofits in Commercial and Public Buildings, by Product Type, Through 2029
Table 37: RoW Market for Energy Retrofits in Commercial and Public Buildings, by Building Type, Through 2029
Table 38: Top Companies’ Ranking in the Global Energy Retrofits for Commercial and Public Buildings Market
Table 39: Product Mapping of Leading Energy Retrofit Manufacturers in Commercial and Public Buildings, 2023
Table 40: Contract Developments in the Global Energy Retrofits for Commercial and Public Buildings Market, 2022-2024
Table 41: Agreements and Partnerships in the Global Energy Retrofits for Commercial and Public Buildings Market, 2023-2024
Table 42: Product Enhancement Strategies in the Global Energy Retrofits for Commercial and Public Buildings Market, 2023-2024
Table 43: ESG Risk Ratings, by Company, 2023
Table 44: Siemens: ESG Ambitions & Targets in 2023
Table 45: Johnson Controls Inc.: Sustainability Performance, 2023
Table 46: Schneider Electric: Sustainability Impact, in 2023
Table 47: Abbreviations Used in the Report
Table 48: AECOM: Company Snapshot
Table 49: AECOM: Financial Performance, FY 2022 and 2023
Table 50: AECOM: Product Portfolio
Table 51: AECOM: News/Key Developments, 2023
Table 52: Ameresco: Company Snapshot
Table 53: Ameresco: Financial Performance, FY 2022 and 2023
Table 54: Ameresco: Product Portfolio
Table 55: Ameresco: News/Key Developments, 2023 and 2024
Table 56: American Hydrotech Inc.: Company Snapshot
Table 57: American Hydrotech Inc.: Product Portfolio
Table 58: Carrier: Company Snapshot
Table 59: Carrier: Financial Performance, FY 2022 and 2023
Table 60: Carrier: Product Portfolio
Table 61: Copeland LP: Company Snapshot
Table 62: Copeland LP: Product Portfolio
Table 63: Daikin Industries Ltd.: Company Snapshot
Table 64: Daikin Industries Ltd.: Financial Performance, FY 2022 and 2023
Table 65: Daikin Industries Ltd.: Product Portfolio
Table 66: Daikin Industries Ltd.: News/Key Developments, 2024
Table 67: Eaton: Company Snapshot
Table 68: Eaton: Financial Performance, FY 2022 and 2023
Table 69: Eaton: Product Portfolio
Table 70: Eaton: News/Key Developments, 2023
Table 71: Honeywell International Inc.: Company Snapshot
Table 72: Honeywell International Inc.: Financial Performance, FY 2022 and 2023
Table 73: Honeywell International Inc.: Product Portfolio
Table 74: Johnson Controls: Company Snapshot
Table 75: Johnson Controls: Financial Performance, FY 2023 and 2024
Table 76: Johnson Controls: Product Portfolio
Table 77: Johnson Controls: News/Key Developments, 2022-2024
Table 78: Lennox International Inc.: Company Snapshot
Table 79: Lennox International Inc.: Financial Performance, FY 2022 and 2023
Table 80: Lennox International Inc.: Product Portfolio
Table 81: Lennox International Inc.: News/Key Developments, 2023 and 2024
Table 82: Metrus Energy Inc.: Company Snapshot
Table 83: Metrus Energy Inc.: Product Portfolio
Table 84: Orion Energy Systems Inc.: Company Snapshot
Table 85: Orion Energy Systems Inc.: Financial Performance, FY 2023 and 2024
Table 86: Orion Energy Systems Inc.: Product Portfolio
Table 87: Orion Energy Systems Inc.: News/Key Developments, 2023 and 2024
Table 88: Schneider Electric: Company Snapshot
Table 89: Schneider Electric: Financial Performance, FY 2022 and 2023
Table 90: Schneider Electric: Product Portfolio
Table 91: Schneider Electric: News/Key Developments, 2024
Table 92: Signify Holding: Company Snapshot
Table 93: Signify Holding: Financial Performance, FY 2022 and 2023
Table 94: Signify Holding: Product Portfolio
Table 95: Signify Holding: News/Key Developments, 2023
Table 96: Trane Technologies Plc.: Company Snapshot
Table 97: Trane Technologies Plc.: Financial Performance, FY 2022 and 2023
Table 98: Trane Technologies Plc.: Product Portfolio
Table 99: Trane Technologies Plc.: News/Key Developments, 2023-2024
Table 100: Emerging and Small-Scale Players in the Global Energy Retrofits for Commercial and Public Buildings Market
List of Figures
Summary Figure: Global Market Share of Energy Retrofits in Commercial and Public Buildings, by Region, 2023
Figure 1: Value Chain Analysis for the Global Energy Retrofit for Commercial and Public Buildings Market
Figure 2: Stages in Energy Retrofit in Building Market for Commercial and Public Buildings
Figure 3: Porter’s Five Forces Model of Energy Retrofits for Commercial and Public Buildings
Figure 4: Market Dynamics for Global Energy Retrofits for Commercial and Public Buildings
Figure 5: Worldwide Capacity Addition of Clean Energy, by Fuel Source, 2021-2028
Figure 6: Energy Retrofitting Technologies Used in Buildings
Figure 7: Global Market Share of Energy Retrofits in Commercial and Public Buildings, by Retrofit Type, 2023
Figure 8: Global Market Share of Quick Wins in Energy Retrofits for Commercial and Public Buildings , by Region, 2023
Figure 9: Global Market Share of Deep Energy Retrofits in Commercial and Public Buildings, by Region, 2023
Figure 10: Global Market Share of Energy Retrofits for Commercial and Public Buildings, by Product Type, 2023
Figure 11: Global Market Share of Building Envelopes in Energy Retrofits for Commercial and Public Buildings, by Region, 2023
Figure 12: Global Market Share of HVAC in Energy Retrofits for Commercial and Public Buildings, by Region, 2023
Figure 13: Global Market Share of Energy-Efficient Lighting in Energy Retrofits for Commercial and Public Buildings, by Region, 2023
Figure 14: Global Market Share of Electricity Submeters in Energy Retrofits for Commercial and Public Buildings, by Region, 2023
Figure 15: Global Market Share of Green Roofs in Energy Retrofits, by Region, 2023
Figure 16: Global Market Share of Other Products in Energy Retrofits for Commercial and Public Buildings, by Region, 2023
Figure 17: Global Market Share of Energy Retrofits in Commercial and Public Buildings, by Building Type, 2023
Figure 18: Global Market Share of Commercial Buildings in Energy Retrofits, by Region, 2023
Figure 19: Global Market Share of Energy Retrofits in Public Buildings, by Region, 2023
Figure 20: Global Market Share of Energy Retrofits in Commercial and Public Buildings, by Region, 2023
Figure 21: North American Market Share of Energy Retrofits in Commercial and Public Buildings, by Retrofit Type, 2023
Figure 22: North American Market Share of Energy Retrofits Commercial and Public Buildings, by Product Type, 2023
Figure 23: North American Market Share of Energy Retrofits in Commercial and Public Buildings, by Building Type, 2023
Figure 24: North American Market Share of Energy Retrofits in Commercial and Public Buildings, by Country, 2023
Figure 25: European Market Share of Energy Retrofits in Commercial and Public Buildings by Retrofit Type, 2023
Figure 26: European Market Share of Energy Retrofits in Commercial and Public Buildings by Product Type, 2023
Figure 27: European Market Share of Energy Retrofits in Commercial and Public Buildings, by Building Type, 2023
Figure 28: European Market Share of Energy Retrofits in Commercial and Public Buildings by Country, 2023
Figure 29: Asia-Pacific Market Share of Energy Retrofits in Commercial and Public Buildings, by Retrofit Type, 2023
Figure 30: Asia-Pacific Market Share of Energy Retrofits in Commercial and Public Buildings, by Product Type, 2023
Figure 31: Asia-Pacific Market Share of Energy Retrofits in Commercial and Public Buildings, by Building Type, 2023
Figure 32: Asia-Pacific Market Share of Energy Retrofits in Commercial and Public Buildings, by Country, 2023
Figure 33: RoW Market Share of Energy Retrofits in Commercial and Public Buildings, by Retrofit Type, 2023
Figure 34: RoW Market Share of Energy Retrofits in Commercial and Public Buildings, by Product Type, 2023
Figure 35: RoW Market Share of Energy Retrofits in Commercial and Public Buildings, by Building Type, 2023
Figure 36: AECOM: Revenue Share, by Business Unit, FY 2023
Figure 37: AECOM: Revenue Share, by Country/Region, FY 2023
Figure 38: Ameresco: Revenue Share, by Business Unit, FY 2023
Figure 39: Ameresco: Revenue Share, by Country/Region, FY 2023
Figure 40: Carrier: Revenue Share, by Business Unit, FY 2023
Figure 41: Carrier: Revenue Share, by Country/Region, FY 2023
Figure 42: Daikin Industries Ltd.: Revenue Share, by Business Unit, FY 2023
Figure 43: Daikin Industries Ltd.: Revenue Share, by Country/Region, FY 2023
Figure 44: Eaton: Revenue Share, by Business Unit, FY 2023
Figure 45: Eaton: Revenue Share, by Country/Region, FY 2023
Figure 46: Honeywell International Inc.: Revenue Share, by Business Unit, FY 2023
Figure 47: Honeywell International Inc.: Revenue Share, by Country/Region, FY 2023
Figure 48: Johnson Controls: Revenue Share, by Business Unit, FY 2024
Figure 49: Johnson Controls: Revenue Share, by Country/Region, FY 2024
Figure 50: Lennox International Inc.: Revenue Share, by Business Unit, FY 2023
Figure 51: Lennox International Inc.: Revenue Share, by Country/Region, FY 2023
Figure 52: Orion Energy Systems Inc.: Revenue Share, by Business Unit, FY 2024
Figure 53: Schneider Electric: Revenue Share, by Business Unit, FY 2023
Figure 54: Schneider Electric: Revenue Share, by Country/Region, FY 2023
Figure 55: Signify Holding: Revenue Share, by Business Unit, FY 2023
Figure 56: Signify Holding: Revenue Share, by Country/Region, FY 2023
Figure 57: Trane Technologies Plc.: Revenue Share, by Business Unit, FY 2023
Figure 58: Trane Technologies Plc.: Revenue Share, by Country/Region, FY 2023

Companies Mentioned

  • Aecom
  • Ameresco
  • American Hydrotech Inc.
  • Carrier
  • Copeland LP
  • Daikin Industries Ltd.
  • Eaton
  • Honeywell International Inc.
  • Johnson Controls
  • Lennox International Inc.
  • Metrus Energy Inc.
  • Orion Energy Systems Inc.
  • Schneider Electric
  • Signify Holding
  • Trane Technologies PLC

Table Information

Report AttributeDetails
No. of Pages154
PublishedJanuary 2025
Forecast Period2024 - 2029
Estimated Market Value ( USD ) in 2024 $ 134.7 Billion
Forecasted Market Value ( USD ) by 2029 $ 191.3 Billion
Compound Annual Growth Rate7.3%
Regions CoveredGlobal
No. of Companies Mentioned15

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