What Is The Overview Of The Global Net-Zero Energy Buildings Market?
A net-zero energy building (NZEB) is a building that produces as much energy as it consumes on an annual basis. This balance is achieved through energy efficiency and renewable energy sources, such as solar panels or wind turbines. A net-zero energy building aims to reduce greenhouse gas emissions and reliance on non-renewable energy, contributing to sustainable building practices.
Net-Zero Energy Buildings Global Market Report 2024 provides data on the global net-zero energy buildings market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The net-zero energy buildings market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Forecasted Market Size And Growth Rates For Global Net-Zero Energy Buildings ?
The net-zero energy buildings market has experienced significant growth in recent years, expected to rise from $31.80 billion in 2023 to $37.66 billion in 2024, reflecting a compound annual growth rate (CAGR) of 18.4%. This growth can be attributed to factors such as urbanization, an increasing focus on reducing greenhouse gas emissions and combating climate change, growing environmental awareness, rising adoption of net-zero energy buildings in the commercial sector, and a greater need for energy efficiency. By 2028, the market is projected to reach $74.57 billion, at a CAGR of 18.6%. The expected growth is driven by increased emphasis on sustainability, environmentally friendly construction solutions, government initiatives to reduce carbon emissions, population growth, and rising temperatures. Key trends in the forecast period include innovations in energy-efficient building techniques, advancements in renewable energy technologies, sustainable building practices, green technologies, and the integration of advanced building design concepts.
What Factors Are Driving Growth In The Net-Zero Energy Buildings Market?
The increasing demand for renewable energy sources is expected to spur the growth of the net-zero energy buildings market. Renewable energy sources, such as solar, wind, and hydropower, are replenishable and are gaining traction due to social contagion, decentralized energy generation, corporate commitments, public health awareness, and climate change mitigation efforts. Net-zero energy buildings are designed to reduce energy consumption through efficient construction and generate on-site renewable energy to meet their energy needs. These buildings set a high standard for energy efficiency and environmental responsibility, contributing to a more sustainable future. The U.S. Department of Energy projects a 75% increase in domestic solar energy generation from 163 billion kWh in 2023 to 286 billion kWh by 2025. Consequently, the growing adoption of renewable energy sources is fueling the net-zero energy buildings market.
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What Are The Main Segments Of The Global Net-Zero Energy Buildings Market?
The net-zero energy buildings market covered in this report is segmented –
1) By Equipment: Lighting, Walls And Roofs, Heating, Ventilation, And Air Conditioning (HVAC) Systems, Other Equipment
2) By Service: Software, Consulting And Designing
3) By Construction Phase: New Construction, Renovation Or Retrofit, Hybrid Approach
4) By Technology Integration: Passive Design Strategies, Energy-Efficient Systems, Renewable Energy Sources
5) By End-User: Residential, Non-Residential
What Emerging Trends Are Influencing The Growth Of The Net-Zero Energy Buildings Market?
Leading companies in the net-zero energy buildings market are concentrating on creating innovative solutions like open AI-enabled suites to optimize energy efficiency, simplify building management, and lower carbon emissions. These suites leverage open AI technologies and machine learning algorithms to improve sustainability and building performance. For instance, in June 2022, Siemens AG, a Germany-based automation company, introduced Building X, an advanced, modular, and scalable open AI-enabled suite under the Siemens Xcelerator initiative. This suite aims to simplify building operations and facilitate the transition toward achieving net-zero emissions by integrating various building systems seamlessly.
What Is The Largest Region In The Net-Zero Energy Buildings Market?
North America was the largest region in the net-zero energy buildings market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the net-zero energy buildings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
