The construction of net zero energy buildings (NZEBs) has surged across the world due to the implementation of energy efficiency plans by several governments. This is also an organizational step to reduce the dependence on conventional energy and ensure the usage of non-conventional energy at a larger scale. For instance, the California Long-Term Energy Efficiency Strategy Plan has been implemented by the California Public Utilities Commission (CPUC) to ensure that all new commercial buildings and residential buildings are NZEBs by 2030 and 2020, respectively.
Apart from local, federal, and central governments, international organizations are also supporting the construction of NZEBs, by setting up emission targets for the construction sector. Such targets have the objective of reducing the dependence on fossil fuels. For instance, the World Green Building Council has publicized plans that can help NZEBs attain 40% fewer embodied carbon emissions by 2030 and reach 100% net zero emissions by 2050. The local and international support will therefore accelerate the net zero energy buildings market at a high 15.6% CAGR during 2019–2024. The market value is expected to grow from $896.6 million in 2018 to $2,106.6 million by 2024.
In recent years, key NZEB technology and component providers like SunPower Corporation, Rockwool Group, Daikin Industries Ltd., Solatube International Inc., Xtratherm Limited, and Kingspan Group plc have started engaging in product launches and acquisitions to gain more customers. For example, Kingspan Group plc. launched three new roofing panels: KingRib 5, KingSeam, and KingRib 3, in April 2019. These panels are cost-effective and energy-efficient and utilize foamed-in-place polyisocyanurate (PIR) foam, which is free of chlorofluorocarbons (CFC) and offers an R-value of 12 for a 1.5-inch panel and an R-value of 49 for a 6-inch panel.
According to P&S Intelligence, North America dominated the net zero energy buildings market in the past, and it will continue its dominance in the foreseeable future. This can be primarily owed to the strict targets of reducing GHG emissions and curtailing energy consumption in the region. Moreover, North America is expected to register the fastest growth in the construction of NZEBs in the coming years due to the rising penetration of this concept, especially in commercial spaces. NZEBs can decrease pollution during the construction phase of the building and ensure carbon neutrality, which can aid in attaining a net zero carbon status.
Hence, in an attempt to save the environment, local, federal, and state governments, along with international agencies, are increasingly focusing on NZEBs. In essence, the urge to eliminate GHG emissions will fuel the construction of such buildings in the coming years.
New York, NY 18 May 2021: According to a new research published by Polaris Market Research the net-zero energy buildings market is anticipated to reach over USD 96,008 million by 2026.
In 2017, the commercial net-zero energy buildings segment dominated the global market, in terms of revenue.
Several stringent energy consumption regulations passed by governments worldwide have boosted the adoption of net-zero energy buildings.
Growing concerns regarding environment, depleting fuel resources, and increasing need to reduce energy consumption further support the growth of this market.
The demand for net-zero energy buildings has increased over the years owing to increasing energy concerns, and environment consciousness across the globe.
The exponential growth in the prices of traditional fuel owing to the depleting fossil fuel reserves has encouraged consumers to switch to renewable sources for operations in net-zero energy buildings.
New York, NY 21 Sep 2021: The global net-zero energy buildings market size is expected to reach USD 140.18 billion by 2028 according to a new study by Polaris Market Research.
The report “Net-Zero Energy Buildings Market Share, Size, Trends, Industry Analysis Report By Type (Residential, Commercial); By Equipment (HVAC Systems, Lighting, Walls and Roofs, Others); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa); Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.Several stringent energy consumption regulations passed by governments worldwide have boosted the adoption of net-zero energy buildings.
Growing concerns regarding the environment, depleting fuel resources, and the increasing need to reduce energy consumption further support the growth of this market.
Request For Sample Copy @ https://www.polarismarketresearch.com/industry-analysis/net-zero-energy-buildings-market/request-for-sampleThe demand for net-zero energy buildings has increased over the years owing to increasing energy concerns, and environmental consciousness across the globe.
The exponential growth in the prices of traditional fuel owing to the depleting fossil fuel reserves has encouraged consumers to switch to renewable sources for operations in net-zero energy buildings.
Limited awareness among consumers has limited the adoption of these buildings in the past.
The global net-zero energy buildings market size is expected to reach USD 140.18 billion by 2028 according to a new study by Polaris Market Research.
Several stringent energy consumption regulations passed by governments worldwide have boosted the adoption of net-zero energy buildings.
Growing concerns regarding the environment, depleting fuel resources, and the increasing need to reduce energy consumption further support the growth of this market.
Get sample copy of this report @ https://www.polarismarketresearch.com/industry-analysis/net-zero-energy-buildings-market/request-for-sample Additionally, the increasing acceptance and reducing operation costs would boost market growth during the forecast period.
The demand for net-zero energy buildings has increased over the years owing to increasing energy concerns, and environmental consciousness across the globe.
The exponential growth in the prices of traditional fuel owing to the depleting fossil fuel reserves has encouraged consumers to switch to renewable sources for operations in net-zero energy buildings.
