Energy Efficient Buildings Technology and Services in Asia Pacific Will Reach Nearly $92 Billion in Annual Market Value by 2022, Forecasts Navigant ResearchFort Mill Times, March 4, 2014
Asia Pacific represents a major portion of global real estate, with about 40 percent of the world’s building stock. While construction rates have slowed since the financial crash of 2008, the region’s buildings sector remains the most dynamic in the world. As such, making buildings more energy efficient has become a top priority in many of the region’s fast-growing economies. Click to tweet: According to a new report from Navigant Research, the market for energy efficient buildings technology and services in Asia Pacific will grow from $45.5 billion in annual value in 2013 to $91.6 billion by 2022.
“While some countries in Asia Pacific lag in many respects behind the building energy efficiency markets in North America and Europe, governments within the region have made significant progress in driving energy efficiency in buildings,” says Eric Bloom, principal research analyst with Navigant Research. “The advent of green building design guidelines, the introduction of new energy efficiency technology, and funding strategies to assist retrofit projects in commercial buildings are all helping to drive the expansion of this dynamic market.”