The global markets for residential energy efficiency technologies should reach $96.8 billion in 2017 and $124.2 billion in 2022, demonstrating a compound annual growth rate (CAGR) of 5.1% from 2017 to 2022.
Albany, NY -- (SBWIRE) -- 05/17/2018 -- Ongoing advancements in home automation has triggered the growth of energy-efficient technologies market. The recent spike in adoption to smart homes is believed to cause further innovations in the device technology. Rise in demand for pro-energy efficient technologies is believed to contribute largely in the energy efficient technologies for global residential market. In a recently added report titled, 'Energy-efficient Technologies for Global Residential Market', Market Research Hub (MRH) provides insights on the impact of recent market trends and developments on the growth of the global market.
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As the idea of energy conservation is gaining momentum, the need to produce energy-efficient devices with advanced features is also gaining traction. Residential complexes, office spaces, and commercial spaces are swiftly adopting to home and office automation set-ups, leading the energy-efficient market to grow exponentially. Novel innovations like GeoExchange technology, Renewable Energy technology, RF technology, Wireless technology, LED lighting, are encouraging manufacturers to invest substantially in the market.
As machine-human interaction technologies are fast advancing, energy efficient devices are incorporating these novel technological innovations to upgrade device automation mechanism. Some of the recent trends that has contributed in this regard are AI, Smart grids, and IoT which are being implemented on a big scale to enhance the functionality of energy efficient devices. These technologies enable device installation, understanding the surroundings by data collection, and customizing technology to meet the requirements of the occupants. With these technologies in place, the chances of errors get minimized, achieving greater efficiency of devices.
Segmentation of Energy-efficient Technologies for Global Residential Markets
Comprehensive information compiled in the report offers relevant guidelines related to the impact of various technologies. In this section, the report summaries important technological advancement prevalent in the market that is directing the market to progress steadily. Some of the latest technologies integrated include, Weather Barriers and Efficient Insulation, Tankless Water Heaters, Smart Home Automation, LED lighting, Low Emissivity Windows and Window Barriers, Heat Pump Water Heaters and Efficient Thermostats.
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The market is also divided geographically, with strong presence in Europe, Asia, and North America.
Key Players Identified in Energy-efficient Technologies for Global Residential Markets
Vital insights collected in the report provides significant information on various tactics adopted by major companies and its impact on the customer's purchase decisions. Based on the information offered in the report, leading enterprises and new market players can make relevant inferences and lay corresponding strategies that would enable them to achieve a strong foothold in the market. Some of the leading companies operating in the market include, Bryant Heating & Cooling Systems, Johnson Controls, Carrier, Lg Electronics, Electrolux, Daikin Industries, Mitsubishi Electric Corp., Bosch Thermotechnology, Trane Co., Weil-Mclain, among others.
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