The North America energy retrofit systems market is projected to record a CAGR of 4.97% during the forecast period, 2022-2030, and is estimated to be valued at $69.06 billion by 2030.

North America has witnessed considerable growth in the demands for energy retrofit systems, owing to government efforts and policies to build an energy-efficient ecosystem. Private companies’ rising requirements for these systems across various industries drive the North American energy retrofit systems market growth.

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Moreover, a joint program between the Environmental Protection Agency (EPA) and the Department of Energy (DOE) identifies cost-effective and top-performing homes, products, and buildings. It aims to help businesses, consumers, and industry protects the environment by adopting energy-efficient products and practices, thereby boosting the demand for retrofit systems.

The North America energy retrofit systems market growth evaluation entails the analysis of the United States and Canada. In the United States, the Office of Energy Efficiency and Renewable Energy aims to provide support and guidance for energy-efficient programs and initiatives. As energy consumption is the second-highest operational expense in schools, the US government announced a $500 million program for better school infrastructure in April 2022. Moreover, the program aims to address energy efficiency in public schools, and it will help improve their heating, air conditioning, ventilation, HVAC systems, and other energy upgrades.

The North America energy retrofit systems market segmentation analysis entails application and product. Market by application is further segmented into non-residential and residential.

Non-residential property refers to office buildings, factories, malls, shops, etc. These places have electrical appliances and hence consume lots of energy. Thus, the energy retrofit systems plays a major role in cost savings and energy efficiency measures. The majority of the offices and factories are owned/rented, managed, and operated by private organizations globally.

Energy conservation and energy efficiency are part of their environmental, social, and corporate governance policy. Many companies have also pledged to help in saving climate change. Thus, organizations are always looking for measures to help them attain their objectives to adhere to the norms, policies, and responsibilities. Governments also provide minimum energy-efficient design and construction requirements for buildings and their systems.

On the other hand, residential properties also consume a high amount of energy and require energy conservation, cost-saving, and efficiency measures. An energy retrofit systems can help residential property owners to achieve these measures. Governments also provide policies, guidance, and programs to encourage energy efficiency in existing homes, new products, and new construction. Governments also provide financing and incentive options to help lower the cost of making energy efficiency improvements in new or existing homes. Thus, the increasing requirement for energy efficiency in the residential sector is expected to encourage the global growth of the energy retrofit systems market.

Some of the key players in the North America energy retrofit systems market include General Electric, AECOM, Orion Energy Systems, etc.

General Electric operates worldwide through its four segments: aviation, healthcare, renewable energy, and power. Their products include military and commercial aircraft systems and engines, pharmaceutical diagnostics and healthcare systems, wind and other renewable energy generation grid solutions and equipment, and steam, gas, nuclear, and other power generation equipment. The company operates globally and is headquartered in Massachusetts, United States.

Company’s Lumination RS Series LED DownLight offers easy-to-install retrofit solutions for offices, hospitality, or retail space. Advanced steam path (ASP) solutions, GE offers partial or full steam path upgrades to ensure fast, tailored, and cost-effective solutions depending on customer applications and needs.

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