Energy Saving and Performance Contracting Market to Rear Excessive Growth - 2024
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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Report Overview @
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.
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.
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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.
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