Energy Efficient Devices Market Business Scenario Analysis By Global Industry Trend- Increasing adoption of renewable energy resources
The global energy efficient devices market is expected to reach a market size of USD 1,771.70 Billion at a steady CAGR of 12.5% in 2028, according to latest analysis by Emergen Research. This steady revenue growth can be attributed to increasing need to reduce carbon footprint and steady shift towards utilization of renewable energy resources. Increasing oil prices, fuel shortages, and growing national competition for global energy supplies are other key factors driving demand for energy efficient devices. Increasing adoption of home energy management systems and smart meters in residential and commercial buildings is also boosting growth of the energy efficient devices market.
Adoption of renewable energy resources to lower greenhouse gas emissions and reduce local pollution through reduced use of fossil fuels has been increasing over the past decade, and is expected to drive growth of the energy efficient devices market to a significant extent going froward.
Energy Efficient Devices Market Size – USD 690.52 Billion in 2020, Market Growth – at a CAGR of 12.5%, Market Trends – Increasing adoption of renewable energy resources
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Key Highlights of Report
- Honeywell International Inc. announced the launch of an integrated set of solutions named Honeywell’s Healthy Buildings solutions to help building owners improve the health of their building environment. Honeywell’s Healthy Buildings solutions feature two packages – indoor air quality and another on safety and security. The Honeywell healthy buildings Air Quality package monitors, manages, and controls key parameters to create a healthier built environment, while still managing energy efficiency.
- Residential application segment accounted for largest revenue share of 48.0% in 2020. Government initiatives on green building guidelines or the Energy Conservation Building Code (ECBC) are expected to drive adoption of energy efficient devices in residential buildings.
- Consumer electronics and appliances segment revenue is expected to expand at a rapid CAGR of 12.8% during the forecast period. Rising need to reduce electricity consumption and costs, and to increase energy security has been driving rising adoption of energy efficient consumer electronics and appliances.
Cue Members Interested In Energy Efficient Devices Industry:
The Energy Efficient Devices report also includes a list of the leading players in the market and expounds on their action plans for drawing higher revenues. The leading market players profiled in the report include General Electric, Cree Inc., Aclara Technologies LLC, Koninklijke Philips N.V., Honeywell International Inc., CG Power and Industrial Solutions, Osram Licht AG, Acuity Brands, Inc., Legrand, and Zumtobel Group. Furthermore, a detailed account of the key industry developments, viable market insights, and current market trends is also available in this report.
With a major focus on the growth trajectories of each segment of the market, the report inspects the operating patterns of each market contender, for instance, partnerships & collaborations, mergers & acquisitions, and new product launches, in a detailed manner. Alongside describing the vast competitive landscape of the Energy Efficient Devices market, the report estimates the CAGR for the market during the projected timeframe.
Geographical Terrain of the Global Energy Efficient Devices Market:
- North America
- Europe Asia Pacific
- Latin America
- Middle East & Africa
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The report highlights the robust growth trajectory of the global Energy Efficient Devices market, shedding light on significant market development. At the same time, the document offers detailed insights into the pertinent industries, business organizations, and various local and international manufacturers and vendors.
The Energy Efficient Devices market intelligence report talks about the market size, share, value, and production cost analysis over the forecast period 2020-2028. In addition, downstream demand analysis, upstream raw materials, consumption volume, and the market share of all the segments and sub-segments have also been discussed at length in the latest report. According to our analysts, the research methodology of the Energy Efficient Devices market is based on both primary and secondary research data sources.
Emergen Research has segmented the global energy efficient devices market on the basis of applications, product type, and region:
- Applications Outlook (Revenue, USD Billion; 2021–2028)
- Commercial Application
- Residential Application
- Industrial Application
- Product Type Outlook (Revenue, USD Billion; 2021–2028)
- Consumer Electronics and Appliances
- Heating, Ventilation, and Air Conditioning (HVAC) Energy Efficient Devices
- Smart Lighting
- Smart Electric Meters
Alongside offering an in-depth analysis of the recent events that took place in the Energy Efficient Devices industry, such as technological upgradation and new product launches, the report lays stress on the consequences of these events on the market.
Reasons to choose Emergen Research
Regional Demand Forecasts and Forecasts
Product price volatility
Technology update analysis
Location index analysis
Raw material procurement strategy
Product composition matrix
Supply chain optimization analysis
The report focuses on the global Energy Efficient Devices market definition, market overview, product scope, description, characterization, and specification. The overall information offered by the report is based on thorough research on the latest market trends, development plans, growth patterns, and regulatory policies.
TOC OF Energy Efficient Devices Industry
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Key Insights
Chapter 4. Energy Efficient Devices Market Segmentation & Impact Analysis
4.1. Energy Efficient Devices Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
22.214.171.124. Increasing purchasing power of consumers
126.96.36.199. Increasing use of renewable sources of energy
188.8.131.52. Rising need to reduce electricity use and costs
4.2.3. Market restraints analysis
184.108.40.206. Lack of awareness among consumers
220.127.116.11. Higher initial costs
18.104.22.168. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Energy Efficient Devices Market By Applications Insights & Trends, Revenue (USD Billion)
5.1. Applications Dynamics & Market Share, 2020 & 2028
5.1.1. Commercial Application
5.1.2. Residential Application
5.1.3. Industrial Application
Chapter 6. Energy Efficient Devices Market By Product Type Insights & Trends Revenue (USD Billion)
6.1. Product Type Dynamics & Market Share, 2020 & 2028
6.1.1. Consumer Electronics and Appliances
6.1.2. Heating, Ventilation, and Air Conditioning (HVAC) Energy Efficient Devices
6.1.3. Smart Lighting
6.1.4. Smart Electric Meters
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