BOULDER, Colo.--(BUSINESS WIRE)--Asia Pacific represents a major portion of global real estate, with about 40 percent of the world’s building stock. While construction rates have slowed since the financial crash of 2008, the region’s buildings sector remains the most dynamic in the world. As such, making buildings more energy efficient has become a top priority in many of the region’s fast-growing economies. Click to tweet: According to a new report from Navigant Research, the market for energy efficient buildings technology and services in Asia Pacific will grow from $45.5 billion in annual value in 2013 to $91.6 billion by 2022.
“While some countries in Asia Pacific lag in many respects behind the building energy efficiency markets in North America and Europe, governments within the region have made significant progress in driving energy efficiency in buildings,” says Eric Bloom, principal research analyst with Navigant Research. “The advent of green building design guidelines, the introduction of new energy efficiency technology, and funding strategies to assist retrofit projects in commercial buildings are all helping to drive the expansion of this dynamic market.”
At the same time, significant barriers exist to the energy efficiency market in the region, according to the report. Navigant Research estimates that only about 20 to 30 percent of the building stock in developed markets has the critical mass of digital control infrastructure necessary to support advanced building energy management technology — a percentage that is likely even lower in Asia Pacific countries. Digital control infrastructure is particularly lacking in smaller buildings (<100,000 square feet), which represent a significant portion of the building stock in Asia Pacific.
The report, “Energy Efficient Buildings: Asia Pacific”, examines the trends for energy efficient building technology and services in the Asia Pacific region. The report covers three main areas of technology – HVAC, energy efficient lighting, and commercial building automation – as well as the energy service company sector. Market forecasts for revenue, broken out by technology, lamp type, segment, and Asia Pacific country, extend through 2022. The report also examines the regulatory issues, market competitiveness, and key industry players related to energy efficient building technology and services in Asia Pacific. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, “Energy Efficient Buildings: Asia Pacific,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.