The global market for zero net energy buildings is likely to expand considerably between 2016 and 2024, exhibiting a high rate of growth. As the name suggests, a zero net energy building is designed to ensure zero net consumption, which means the total amount of energy consumed by the building annually should roughly equal the amount of renewable energy created on site. The construction of these buildings has gained prominence in the last few years, since they contribute significantly to reducing greenhouse emissions.
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Numerous zero net energy building (ZEB) pilots have been developed around the world to demonstrate novel technology solutions and create high-performance structures across residential and commercial facilities, including corporate offices, government buildings, and residential complexes. The construction of zero net energy buildings is encouraged as nations seek ways of minimizing their carbon footprint.
The outlook of the market is strong, though the market will witness a slow start.
Other than several pilots trying to bring about savings through low energy bills, a stronger driver of the market will be growing awareness about ZEBs, which use as much energy as they generate from on-site renewables over the course of a year. However, the various definitions of ZEBs and the lack of uniform standards to identify the success of pilots will create several challenges for the market in the coming years.
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The report provides a granular analysis of the growth trajectory exhibited by the global zero net energy buildings market. It covers the various pilots initiated across the world and studies their success rates. Insights into the factors driving and restraining the market make for an indispensable inclusion in the report. For the purpose of the study, the report also includes exhaustive information obtained from trusted industrial sources.
Zero Net Energy Buildings Market: Key Trends and Opportunities
Favorable government regulations and skyrocketing environmental concerns around the world have been the key drivers of the global zero net energy buildings market. ZEBs have emerged as the most popular target for green building construction and renovation for the forthcoming years. Despite the market being nascent, ZEBs have become the prime focus of the green buildings industry across major regional markets.
Zero Net Energy Buildings Market: Region-wise Analysis
The rapid expansion of the construction industry in Asia Pacific provides lucrative opportunities for the expansion of the zero net energy buildings market. China, in particular, boasts of several attractive opportunities for the market. With the sheer number of buildings being constructed in urban areas, the country needs to adopt major steps and technologies to reduce energy consumption and subsequently contribute less to the growing global carbon footprint. As such, the market for zero net energy buildings is poised to witness a surge in demand in China.
Meanwhile, the European Union (EU) has also decided to set intermediate-term targets for energy reduction in commercial, residential, and government buildings, which in turn is driving the market for ZEBs at a significant pace.
The zero-net energy buildings market in North America will be primarily led by the U.S. Favorable government policies and rising investments on eco-friendly construction in the country will give a significant boost to the ZEBs market.