WELLESLEY, Massachusetts, November 19, 2014 /PRNewswire/ --
BCC Research reveals in its new report, ZERO NET ENERGY BUILDINGS: GLOBAL MARKETS, the global market for zero net energy (ZNE) commercial buildings is expected to grow to $239.7 million by 2018, with a five-year compound annual growth rate (CAGR) of 50.6%. Growth is being driven by a global green building boom, ongoing governmental regulations, and regional environmental concerns.
ZNE buildings - buildings that consume only as much energy as they generate within a year - are the next target for green building construction and renovation over the next several years. While the market is at an early stage, ZNE has become the focus of the green building industry and regulators in most major geographic markets.
The global market will be led by countries in Asia-Pacific, especially China, where the sheer volume of the building boom in urban areas combined with the need to reduce energy consumption will drive significant growth over the near term. As such, this region is expected to exceed $117 million in 2018 and to register a tremendous 55.3% CAGR.
Meanwhile, the European Union (EU) has set intermediate term targets for energy reduction in government, commercial and residential buildings, which is driving growth at a healthy pace. Consequently, the EU is the second largest and fastest-growing region in the market and is projected to reach to nearly $75 million in 2018 and register an impressive CAGR of 47.5%.
Finally, the Americas will be led by the United States. Government encouragement through specifications and guidance is the driver, with the greatest activity in government facilities. This market is expected to reach $47.6 million in 2019 and to register a notable 45.9% CAGR.
"Though there is much concern about reducing carbon footprint in the United States, low-cost fossil fuel-based energy is making it difficult to justify ZNE investments, especially since they require a portion of the spend to be tied to more expensive renewable energy sources," says BCC Research editor Michael Sullivan-Trainor. "For this reason the economic drivers for ZNE and therefore the fastest-developing markets will be in Asia-Pacific and Europe, where high costs and low availability for conventional energy sources are driving renewable energy spending."
A ZNE building is a building with zero net energy consumption, meaning the total amount of energy used by the building on an annual basis is roughly equal to the amount of renewable energy created on the site. While traditional buildings consume 40% of the total fossil fuel energy in the United States and European Union and are significant contributors of greenhouse gases, ZNE buildings are viewed as a means to reduce carbon emissions and reduce dependence on fossil fuels.
Join BCC Research for a complimentary webcast, ZNE is the New Green, on December 3, 2014. Register for the 9:00 a.m. (U.S. Eastern time) or the 2:00 p.m. (U.S. Eastern time) broadcast. Mr. Sullivan-Trainor will highlight market trends and growth in the industry.
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About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key competitors. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Our clients include the top companies in industries around the world as well as universities, business schools, start-ups, consulting firms and investment companies. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email email@example.com.
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Contact: Steven Cumming
SOURCE BCC Research LLC