Market by Application, Product, Type, and Country Outlook | Forecast 2024-2032
Triton’s research report infers that the energy
retrofit system market in North America is estimated to advance in terms of
revenue at a CAGR of 4.49% over the
forecast period 2024-2032.
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The
countries reviewed in the region include:
• United
States
• Canada
In North America, the demand for the energy
retrofit system has surged due to government initiatives aimed at fostering
energy efficiency. This growth is further fueled by private companies across
various sectors seeking energy-efficient solutions.
ENERGY STAR®, a collaborative effort between the
Environmental Protection Agency (EPA) and the Department of Energy (DOE), plays
a pivotal role in North America. This program distinguishes high-performing and
cost-effective products, homes, and buildings. Its primary objective is to
facilitate cost savings and environmental protection through the adoption of
energy-efficient technologies.
The
United States leads the market with the
highest share. The
Office of Energy Efficiency and Renewable Energy, operating under the United
States Department of Energy, is dedicated to supporting and guiding
energy-efficient programs nationwide. In April 2022, the government unveiled an
initiative aimed at enhancing school infrastructure. Energy consumption stands
as the second-highest operational cost for schools, with a notable portion lost
due to inefficient equipment and systems. This program targets energy
efficiency in public schools, intending to enhance heating, ventilation, air
conditioning (HVAC) systems and other energy-related upgrades.
LED retrofit involves converting an existing fixture, such as CFL,
fluorescent, or incandescent, to an LED lighting fixture, enabling a seamless
transition. These retrofit LEDs are specifically engineered to replace
traditional light sources with ease, fitting into existing sockets and fixtures
without hassle. They boast high energy efficiency, significantly cutting down
energy usage across various installations. Moreover, the materials utilized in
LED lighting are more environmentally friendly compared to those required for
older lighting technologies like fluorescent bulbs.
The market is categorized into product, application, and type. The product
section includes LED lighting, appliances, envelope, and HVAC.
The companies in the market include Orion
Energy Systems Inc, Johnson Controls International Plc, Siemens AG, Signify
Holding, and General Electric Company.
Orion Energy Systems Inc specializes in researching, designing,
developing, manufacturing, marketing, selling, installing, and implementing
energy management systems, primarily comprising high-performance,
energy-efficient commercial and industrial LED lighting systems and associated
services. The company assists clients in achieving energy savings through
sustainable solutions, helping them reduce their carbon footprint and
digitalize their operations. Serving a diverse clientele, the company is
headquartered in Wisconsin, United States, and primarily operates in North
America.
KEY
DELIVERABLES OF THE REPORT:
●
Market CAGR during the forecasting years 2024-2032
●
Detailed data highlighting key insights, industry components, and
market strategies
●
Comprehensive information and estimation of the energy
retrofit system
market revenue growth in North America and its influence on the parent market
●
In-depth study of forthcoming trends in consumer behavioral
patterns
●
A meticulous analysis of the competitive landscape and Porter’s
Five Forces
●
A wide-ranging study of factors that will challenge the North
America energy retrofit system market’s growth during the upcoming
years
Want to get specific insights? Our team of
analysts can customize this report based on your preferences. Connect with us here.
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VIEW REPORT1. NORTH
AMERICA ENERGY RETROFIT SYSTEM MARKET – SUMMARY
2. INDUSTRY
OUTLOOK
2.1. PORTER’S
FIVE FORCES ANALYSIS
2.1.1. THREAT
OF NEW ENTRANTS
2.1.2. THREAT
OF SUBSTITUTES
2.1.3. BARGAINING
POWER OF BUYERS
2.1.4. BARGAINING
POWER OF SUPPLIERS
2.1.5. THREAT
OF COMPETITIVE RIVALRY
2.2. MARKET
MATURITY ANALYSIS
2.3. SUPPLY
CHAIN ANALYSIS
2.3.1. ENERGY
EFFICIENCY TECHNOLOGY PROVIDERS
2.3.2. RETROFIT
SOLUTION MANUFACTURERS
2.3.3. DISTRIBUTION
CHANNELS
2.3.4. ENERGY
CONSUMERS AND END USERS
2.4. REGULATORY
FRAMEWORK
2.5. KEY
BUYING IMPACT ANALYSIS
2.5.1. ENERGY
EFFICIENCY AND PERFORMANCE
2.5.2. TECHNOLOGICAL
INNOVATIONS IN RETROFIT SYSTEMS
2.5.3. SYSTEM
RELIABILITY AND LONGEVITY
2.5.4. SUPPORT
SERVICES AND USER TRAINING
2.6. KEY
MARKET STRATEGIES
2.6.1. COLLABORATIONS
2.6.2. PRODUCT
LAUNCHES
2.6.3. ACQUISITIONS
2.6.4. BUSINESS
DIVESTITURES & EXPANSIONS
2.7. MARKET
DRIVERS
2.7.1. GOVERNMENT
POLICIES AND INCENTIVES PROMOTING ENERGY EFFICIENCY IN BUILDINGS
2.7.2. RISING
ENERGY COSTS DRIVING DEMAND FOR RETROFITS TO REDUCE COSTS
2.7.3. INCREASED
AWARENESS OF ENVIRONMENTAL IMPACTS DRIVING ADOPTION OF GREEN SOLUTIONS
2.7.4. ADVANCEMENTS
IN RETROFIT TECHNOLOGIES IMPROVING EFFICIENCY AND LOWERING COSTS
2.7.5. GROWTH
IN GREEN BUILDING CERTIFICATION PROGRAMS SUPPORTING RETROFIT ACTIVITIES
2.8. MARKET
CHALLENGES
2.8.1. HIGH
UPFRONT COSTS AND LONG PAYBACK PERIODS
2.8.2. LACK
OF FUNDING AND FINANCING OPTIONS FOR RETROFIT PROJECTS
2.8.3. DISRUPTIONS
CAUSED BY RETROFIT ACTIVITIES
2.8.4. LACK
OF SKILLED PERSONNEL TO IMPLEMENT ADVANCED RETROFIT SOLUTIONS
2.9. MARKET
OPPORTUNITIES
2.9.1. LEVERAGING
IOT AND DATA ANALYTICS TO OPTIMIZE THE EFFICIENCY OF RETROFITS
2.9.2. INNOVATIVE
BUSINESS MODELS SUCH AS ESCOS TO OVERCOME COST BARRIERS
2.9.3. INCREASED
ADOPTION OF DEEP RETROFITS
2.9.4. CONVERGENCE
OF RETROFITS WITH RENEWABLE ENERGY, STORAGE, AND EVS
2.10. ANALYST
PERSPECTIVE
3. NORTH
AMERICA ENERGY RETROFIT SYSTEM MARKET – BY APPLICATION
3.1. RESIDENTIAL
3.2. COMMERCIAL
3.3. INSTITUTIONAL
4. NORTH
AMERICA ENERGY RETROFIT SYSTEM MARKET – BY PRODUCT
4.1. ENVELOPE
4.2. HVAC
4.3. LED
LIGHTING
4.4. APPLIANCES
5. NORTH
AMERICA ENERGY RETROFIT SYSTEM MARKET – BY TYPE
5.1. QUICK
WINS RETROFIT
5.2. DEEP
RETROFIT
6. NORTH
AMERICA ENERGY RETROFIT SYSTEM MARKET – BY COUNTRY OUTLOOK
6.1. NORTH
AMERICA
6.1.1. COUNTRY
ANALYSIS
6.1.1.1. UNITED
STATES
6.1.1.1.1. UNITED
STATES ENERGY RETROFIT SYSTEM MARKET FORECAST & PROSPECTS
6.1.1.2. CANADA
6.1.1.2.1. CANADA
ENERGY RETROFIT SYSTEM MARKET FORECAST & PROSPECTS
7. COMPETITIVE
LANDSCAPE
7.1. AMERESCO
7.1.1. OVERVIEW
7.1.2. PRODUCT
PORTFOLIO
7.1.3. KEY
STRENGTH
7.1.4. KEY
CHALLENGE
7.2. EATON
CORPORATION PLC
7.2.1. OVERVIEW
7.2.2. PRODUCT
PORTFOLIO
7.2.3. KEY
STRENGTHS
7.2.4. KEY
CHALLENGE
7.3. DAIKIN
INDUSTRIES LTD
7.3.1. OVERVIEW
7.3.2. PRODUCT
PORTFOLIO
7.3.3. KEY
STRENGTH
7.3.4. KEY
CHALLENGE
7.4. AECOM
7.4.1. OVERVIEW
7.4.2. PRODUCT
PORTFOLIO
7.4.3. KEY
STRENGTHS
7.4.4. KEY
CHALLENGE
7.5. JOHNSON
CONTROLS INTERNATIONAL LLC
7.5.1. OVERVIEW
7.5.2. PRODUCT
PORTFOLIO
7.5.3. KEY
STRENGTHS
7.5.4. KEY
CHALLENGES
7.6. SIEMENS
AG
7.6.1. OVERVIEW
7.6.2. PRODUCT
PORTFOLIO
7.6.3. KEY
STRENGTHS
7.6.4. KEY
CHALLENGE
7.7. ORION
ENERGY SYSTEMS INC
7.7.1. OVERVIEW
7.7.2. PRODUCT
PORTFOLIO
7.7.3. KEY
STRENGTHS
7.7.4. KEY
CHALLENGE
7.8. SCHNEIDER
ELECTRIC SE
7.8.1. OVERVIEW
7.8.2. PRODUCT
PORTFOLIO
7.8.3. KEY
STRENGTHS
7.8.4. KEY
CHALLENGES
7.9. SIGNIFY
HOLDING
7.9.1. OVERVIEW
7.9.2. PRODUCT
PORTFOLIO
7.9.3. KEY STRENGTHS
7.9.4. KEY
CHALLENGES
7.10. GENERAL
ELECTRIC COMPANY
7.10.1. OVERVIEW
7.10.2. PRODUCT
PORTFOLIO
7.10.3. KEY
STRENGTHS
7.10.4. KEY
CHALLENGES
8. RESEARCH
METHODOLOGY & SCOPE
8.1. RESEARCH
SCOPE & DELIVERABLES
8.2. SOURCES
OF DATA
8.3. RESEARCH
METHODOLOGY
TABLE
1: NORTH AMERICA ENERGY RETROFIT SYSTEM MARKET, BY REGIONAL OUTLOOK, HISTORICAL
YEARS, 2020-2023 (IN $ MILLION)
TABLE
2: NORTH AMERICA ENERGY RETROFIT SYSTEM MARKET, BY REGIONAL OUTLOOK, FORECAST
YEARS, 2024-2032 (IN $ MILLION)
TABLE
3: REGULATORY FRAMEWORK
TABLE
4: LIST OF COLLABORATIONS
TABLE
5: LIST OF PRODUCT LAUNCHES
TABLE
6: LIST OF ACQUISITIONS
TABLE
7: LIST OF BUSINESS DIVESTITURES & EXPANSIONS
TABLE
8: NORTH AMERICA ENERGY RETROFIT SYSTEM MARKET, BY APPLICATION, 2024-2032 (IN $
MILLION)
TABLE
9: NORTH AMERICA ENERGY RETROFIT SYSTEM MARKET, BY PRODUCT, 2024-2032 (IN $
MILLION)
TABLE
10: NORTH AMERICA ENERGY RETROFIT SYSTEM MARKET, BY TYPE, 2024-2032 (IN $
MILLION)
TABLE
11: NORTH AMERICA ENERGY RETROFIT SYSTEM MARKET, BY REGIONAL OUTLOOK,
HISTORICAL YEARS, 2020-2023 (IN $ MILLION)
TABLE
12: NORTH AMERICA ENERGY RETROFIT SYSTEM MARKET, BY REGIONAL OUTLOOK, FORECAST
YEARS, 2024-2032 (IN $ MILLION)
FIGURE
1: MARKET MATURITY ANALYSIS
FIGURE
2: SUPPLY CHAIN ANALYSIS
FIGURE
3: KEY BUYING IMPACT ANALYSIS
FIGURE
4: NORTH AMERICA ENERGY RETROFIT SYSTEM MARKET, BY APPLICATION, 2023 & 2032
(IN %)
FIGURE
5: NORTH AMERICA ENERGY RETROFIT SYSTEM MARKET, BY RESIDENTIAL, 2024-2032 (IN $
MILLION)
FIGURE
6: NORTH AMERICA ENERGY RETROFIT SYSTEM MARKET, BY COMMERCIAL, 2024-2032 (IN $
MILLION)
FIGURE
7: NORTH AMERICA ENERGY RETROFIT SYSTEM MARKET, BY INSTITUTIONAL, 2024-2032 (IN
$ MILLION)
FIGURE
8: NORTH AMERICA ENERGY RETROFIT SYSTEM MARKET, BY PRODUCT, 2023 & 2032 (IN
%)
FIGURE
9: NORTH AMERICA ENERGY RETROFIT SYSTEM MARKET, BY ENVELOPE, 2024-2032 (IN $
MILLION)
FIGURE
10: NORTH AMERICA ENERGY RETROFIT SYSTEM MARKET, BY HVAC, 2024-2032 (IN $
MILLION)
FIGURE
11: NORTH AMERICA ENERGY RETROFIT SYSTEM MARKET, BY LED LIGHTING, 2024-2032 (IN
$ MILLION)
FIGURE
12: NORTH AMERICA ENERGY RETROFIT SYSTEM MARKET, BY APPLIANCES, 2024-2032 (IN $
MILLION)
FIGURE
13: NORTH AMERICA ENERGY RETROFIT SYSTEM MARKET, BY TYPE, 2023 & 2032 (IN
%)
FIGURE
14: NORTH AMERICA ENERGY RETROFIT SYSTEM MARKET, BY QUICK WINS RETROFIT,
2024-2032 (IN $ MILLION)
FIGURE
15: NORTH AMERICA ENERGY RETROFIT SYSTEM MARKET, BY DEEP RETROFIT, 2024-2032
(IN $ MILLION)
FIGURE
16: NORTH AMERICA ENERGY RETROFIT SYSTEM MARKET, BY COUNTRY OUTLOOK, 2023 &
2032 (IN %)
FIGURE
17: UNITED STATES ENERGY RETROFIT SYSTEM MARKET 2024-2032 (IN $ MILLION)
FIGURE
18: CANADA ENERGY RETROFIT SYSTEM MARKET 2024-2032 (IN $ MILLION)