November 21, 2017
WELLESLEY, Mass., Nov 21 – Diverse and wide-ranging factors are impacting the global market for energy efficient technologies. The market is projected to grow at a compound annual growth rate (CAGR) of 5.1%, according to an industry report by BCC Research. Led by growing demand for efficient residential systems and controls, the market is expected to be worth $124.2 billion by 2022.
Significant technological advancements in energy-efficient water heaters and other efficiency-oriented home control and automation technologies is boosting the market, while cost barriers will ultimately limit adoption of some technologies and elevated supply in markets such as LED lighting is keeping prices in check, according to the report Energy-efficient Technologies for Global Residential Markets.
Leaders in the field include Bosch Thermotechnology, Bradford White, Carrier, Daikin Industries, Electrolux, GE Lighting, Honeywell, Jeld-Wen, Johnson Controls, Lennox International, LG, Mitsubishi, Pella, Rheem, and Weil-McLain.
“In an increasing number of countries, increasingly stringent regulations provide strong support to deployment of residential energy efficiency technologies,” said report author and BCC Research analyst Robert Eckard. “But industry insiders rarely cite regulations as the primary driver of their industry. For example, in the U.S., homeowner and builder incentives have built up since the early 2000s, and have supported critical growth and continued development of many energy-efficient residential technologies, especially those with higher capital cost.”
The Lauded Smart Thermostat Has Not Yet Met Market Expectations
Despite predictions of robust growth, the market for energy-efficient thermostats remains modest, the report notes. These units allow precise programmable temperature control and net the user a bevy of data in addition to the ability to “learn” a user’s preferences over time. However, the report adds, the units cost as much as five times that of a traditional thermostat, and the ability to remotely control a home’s temperature remains of limited interest to most homeowners.
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Energy-efficient Technologies for Global Residential Markets( EGY134A )
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