Effects of Climate Change Are Restructuring the Building Industry in Asia-Pacific, Finds Frost & Sullivan
-- Customers look for building companies with strong technical capabilities and a proven track record
KUALA LUMPUR, Malaysia, Sept. 18, 2014 /PRNewswire/ -- The increasing effects of climate change on temperatures in various countries across Asia-Pacific will inevitably impact the buildings industry in the region. The industry will have to adapt to these changes, focusing on energy efficiency and renewable energy to combat the hike in electricity consumption, tariffs and operational costs.
New analysis from Frost & Sullivan, Country Benchmarking: Climate Change Remodels the Buildings Industry in Asia-Pacific, finds that the emerging nations of China and India present the highest market potential for climate change technologies due to their sheer size. Among developed economies, Singapore and Australia provide significant scope in the overall climate change market in the buildings industry.
The uncertainty in policies pertaining to climate change in Asia-Pacific, along with the unavailability of funds for research remains a challenge. Greater awareness on the importance of climate change mitigation technologies and their long-term benefits is vital in ensuring the successful implementation of green buildings.
"In line with this, government support in energy efficiency will be crucial," said Frost & Sullivan Energy and Environmental Research Analyst Izwan Rasul. "Governments in respective countries are actively involved in spreading awareness on energy-efficient buildings through retrofitting activities in public buildings and infrastructure."
In countries like Japan and Malaysia, the buildings industry is dominated by local market participants, especially in municipal projects. On the other hand, South Korea and Singapore experience intense competition from both local and international builders. In Thailand, foreign market participants with technical expertise are favored over domestic ones owing to the existence of too many competing green standards and a lack of direction from the government in regulating these standards.
"Companies with strong technical capabilities and a proven track record will remain the preferred choice among customers, making it difficult for smaller vendors to grow," noted Izwan. "Scientific research on climate change will also be critical in opening doors to immediate and mid-term remediation opportunities for climate change mitigation in Asia-Pacific's building industry."
If you are interested in more information on this study, please send an e-mail to Donna Jeremiah, Corporate Communications, at djeremiah@frost.com.
Country Benchmarking: Climate Change Remodels the Buildings Industry in Asia-Pacific is part of the Building Management Technologies (http://www.buildingtechnologies.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: More Than Just Being Green—A Sustainability Perspective in the Asia-Pacific Green Buildings Market, Building Construction Market in Asia-Pacific, and Global Building Automation Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Country Benchmarking: Climate Change Remodels the Buildings Industry in Asia-Pacific
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Contact:
Donna Jeremiah
Corporate Communications – Asia Pacific
P: +61 (02) 8247 8927
F: +61 (02) 9252 8066
E: djeremiah@frost.com
Carrie Low
Corporate Communications – Asia Pacific
P: +603 6204 5910
F: +603 6201 7402
E: carrie.low@frost.com
Melissa Tan
Corporate Communications – Asia Pacific
P: +65 6890 0926
F: +65 6890 0999
E: melissa.tan@frost.com
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