LONDON--(BUSINESS WIRE)--To address increasing concerns about the state of the environment as well as the rising demand for energy, governments around the world have begun to promote the use of energy-efficient technologies, solutions, and services that reduce operational, maintenance, and overall costs. According to Infiniti Research, the global market for industrial energy services is expected to grow at a CAGR of more than 6% until 2021. Initiatives like the Kafa’ati initiative in Abu Dhabi promote the use of energy service companies (ESCOs), and are working towards reducing ecological footprints, greenhouse gas emissions and pollution, and other forms of environmental harm.
The latest market assessment from Infiniti Research analyzes market opportunities of ESCOs for the performance contracting market. The focus of the study was to help companies understand the key criteria for ESCO’s lighting selections and purchasing decisions. These insights can be used as a basis for developing effective strategies to support marketing plans for serving the lighting needs of target ESCOs.
The Abu Dhabi Department of Economic Development (DED) recently announced the opening of registration for ESCOs interested in operating in the city. This registration has been launched under the Kafa’ati initiative of the Demand Side Management (DSM) program Tarsheed, which was announced in January at Abu Dhabi Sustainability Week 2017. This will help to support energy performance contracting, specifically in order to reduce electricity consumption and water consumption in government, commercial, and institutional buildings in the UAE capital through the installation and use of efficient technologies that enable non-residential buildings to reduce energy consumed for essential operational functions.
The Kafa’ati initiative has the potential to save more than 440,000 megawatt hours per year as a result of ESCO registration and operations. It will also form a comprehensive strategy for the promotion and sustainable use of natural resources, reduction of ecological footprints, and for replacing all electrical devices (including air conditioners, elevators, et cetera) used in non-residential buildings with energy-efficient substitutes. This has the potential to make businesses operating in Abu Dhabi more successful and competitive in both domestic and global markets by reducing their operational and capital expenditures.
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To understand the impact that this initiative—and others like it—will have on a country’s economy, environment, and population, vendors and governments alike often turn to market intelligence. Infiniti Research’s market intelligence analysts can keep organizations up to date with evolving government and industry regulations around the world, as well as the energy needs of different industries and businesses.
In their latest study, Infiniti Research worked with one of the largest electronics companies in the world to help them discover potential opportunities within the market space that serve ESCOs with their lighting needs for the performance contracting market. After analyzing information on several parameters including pain points, need gaps, usage trends, purchase factors, and the roles and responsibilities of key stakeholders, Infiniti Research analysts provided actionable insights to the client.
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