Global Energy Saving and Performance Contracting Market: Overview
The concept of energy saving and performance contracting (ESPC) involves several processes in order to achieve greater energy efficiency. Increasing population across the world and consequent rapid urbanization, the demand for energy is touching new peaks. Smart cities and smart buildings are now being built in budget-neutral approach to reduce energy and water consumption. Frequently, renewable energy projects are installed and technology enables wastage of the same. By working in accordance to an energy service company (ESCO), the owners of a facility can significantly curtail their energy demand on a daily basis and gain greater return of investment (ROI). Consequently, the demand in the global energy saving and performance contracting market is expected to expand at a rapid rate during the forecast period of 2016 to 2024.
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This report on the global market for energy saving and performance contracting aspires to serve as a credible business document for audiences such as national and state governments, municipal authorities, real estate developers, IT solution providers, system integrators, networking solution providers, and utilities companies. All important factors that may influence the demand in ESPC market have been analyzed for their eventual impact and future revenue estimations are included in the report. The report also profiles a number of key players currently participating in the global energy saving and performance contracting market and evaluates their share of the pie as well as recent strategic decisions.
The global market for energy saving and performance contracting can be segmented on the basis of technology into heating, ventilation, and air conditioning (HVAC), combined heat and power (CHP), district heating (DH) refurbishment, and fuel switch, indoor and outdoor lighting, renewable energy sources (RES) utilization, and others including gas distribution, reactive power, process unit, combustion improvement, and compressed air. By business contract model, the market can be segmented into guaranteed savings model, shared saving model, and others. By end-use sectors, the market for energy saving and performance contracting can be segmented into industry, tertiary, public, and residential. Geographically, the report studies the potential of energy saving and performance contracting market in several regions such as Asia Pacific, North America, Latin America, the Middle East and Africa, and Europe.
Global Energy Saving and Performance Contracting Market: Trends and Opportunities
Among the key factors driving the global ESPC market is the liberalization and restructuring of the electricity and gas markets. In addition to that, initiatives taken by public and private sectors in accordance with climate change is another factors augmenting the demand in the global energy saving and performance contracting market. Increasing awareness pertaining to the need of every conservation, higher return of investment in a longer run, government support and legislations for performance contracting, and increased investment for renewable sources of energy such as solar power are some of the other factors favoring the global market for energy saving performance contracting. On the other hand, the lack of commercially sustainable projects is hindering the market from attaining its true potential.
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Global Energy Saving and Performance Contracting Market: Regional Outlook
Currently, North America serves the maximum demand in ESPC market, which is a reflection of greater adoption of new technology, government support, and the presence of several key companies in the country of the U.S. However, Asia Pacific resides a number of emerging economies such as India, China, Japan, South Korea, and Singapore and is expected to expand the demand at the most prominent rate during the forecast period. The Middle East countries also have a flourishing construction industry, and are incrementing the demand for energy saving performance contracting.
Companies mentioned in the research report
LUTRON, Crowley Carbon Ltd., OSRAM, Veolia, Candelas Ltd., and Dalkia are some of the key vendors operating in the global energy saving performance contracting market.