Rising need to reduce energy consumption and growing concerns regarding climatic change and environmental impact are some among many key factors driving market growth.
Vancouver, BC -- (SBWIRE) -- 04/22/2021 -- 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. The report gathers viable information on the most prominent industry players, distribution channel, regional spectrum, market share, and size, in terms of value and volume, respectively, and revenue estimations over the forecast timeframe.
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. Stringent regulations on carbon emissions and energy consumption is also driving demand for more energy efficient devices across industrial and manufacturing sectors and industries.
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Key Highlights of Report
In May 2020, 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.
North America accounted for largest revenue share contribution to the global energy efficient devices market in 2020. Government of various countries in the region are implementing new strategies to increase adoption of more energy-efficient appliances and equipment to mitigate climate change, reduce global energy demand, and improve access to renewable energy, which are key factors driving growth of the energy efficient devices market in the region.
Key players in the market 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.
Energy Efficient Devices Market Segmentation:
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
Key Regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Elucidating the competitive scenario of the Global Energy Efficient Devices Market:
The comprehensive global Energy Efficient Devices market analysis includes meaningful insights into the competitive spectrum of this business sphere. It goes on to enlist the detailed profiles of each market competitor.
The latest report includes the industry share, production facilities, development prospects,and geographies served by each market player.
The study also showcases the extensive product portfolios of the prominent market contenders and offers critical data and information about the application scope, as well as specifications of these products.
In addition, the study presents the fundamental market insights, pricing range of products offered by these companies, and the gross profits and losses experienced by these players throughout their market tenures.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
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
4.2.2.1. Increasing purchasing power of consumers
4.2.2.2. Increasing use of renewable sources of energy
4.2.2.3. Rising need to reduce electricity use and costs
4.2.3. Market restraints analysis
4.2.3.1. Lack of awareness among consumers
4.2.3.2. Higher initial costs
4.2.3.3. 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
CONTINUED..!!
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