Market Dynamics

Increasing demand from commercial user and industrial user for various applications is expected to drive market growth of energy efficient devices market during the forecast period. Electricity is one of the major forms of energy utilized across all segments, be it residential, commercial or industrial. The consumption of electricity is scaling due to urbanization.

Due to increasing energy consumption, there is an urgent need for efficient utilization of energy devices.

Segment Analysis

On the basis of type, the energy efficient devices market has been segmented into HVAC devices, smart lighting, smart electric meters, and consumer appliances & electronics. Among these, the consumer appliances & electronics segment is leading due to the growing population and rising disposable income of consumers, which is creating a demand for these products.

Based on application, the market has been segmented into residential, commercial, and industrial.

According to the International Energy Agency (IEA), the residential sector is expected to consume maximum energy in comparison with other sectors. Thus, there has been an increase in the use of energy efficient devices in smart buildings to reduce the consumption of electricity and for a sustainable future.

The adoption of IoT in smart devices is expected to control the distribution and transmission of power for its efficient utilization.

Key Factors Impacting Market Growth:

• Awareness about adverse effects of high energy consumption on the environment
• Increasing demand to reduce conventional energy consumption
• Rapid urbanization and industrial development

Regional Outlook:

The regional outlook for energy efficient devices  market provides detailed information for markets including North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World. North America and Western Europe are estimated to be key regions for energy efficient devices  market during the forecast period. Being one of the industrialized regions, the energy & power sector is key to the operations of various industries in this region. This is one of the important factors governing the growth of energy efficient devices  market in these regions. Some of the major countries covered in this region include US, Germany, UK, France, Italy, Canada, and so on. 

Asia Pacific is estimated one of the fastest growing regions for energy efficient devices  market during the forecast period. Some of the fastest growing economies and increasing demand for energy & power to cater high population & industries is expected to drive the demand in this region. China and India are projected to register major demand during the forecast period. Middle East that includes UAE, Saudi Arabia, Iran, Qatar, and others promises high market potential during the forecast period. Rest of the World including South America and Africa are emerging regions in terms of market demand during the forecast period.

Companies Covered: Honeywell, Crompton Greaves, GE Electric, Carrier, Daikin, Legrand, LG, Mitsubishi, Cree Inc., Koninklijke Philips N.V., Samsung Electronics, Osram Group, Elster Group, Acuity Brands, Aclara, Zumtobel Group, Schneider Electric, Itron, Toshiba, and Trane...

Market Segmentation:

By Type:

• Heating, Ventilation and Air Conditioning (HVAC) Devices
• Smart Lighting
• Smart Electric Meters
• Consumer Appliances & Electronics

By Application:

• Residential
• Commercial
• Industrial

By Region:

• North America
  • By Country (US, Canada, Mexico)
  • By Type
  • By Application
• Western Europe
  • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
  • By Type
  • By Application
• Eastern Europe
  • By Country (Russia, Turkey, Rest of Eastern Europe)
  • By Type
  • By Application
• Asia Pacific
  • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
  • By Type
  • By Application
• Middle East
  • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
  • By Type
  • By Application
• Rest of the World
  • By Region (South America, Africa)
  • By Type
  • By Application

Reasons to Buy This Report:

• Market size estimation of the global energy efficient devices market on a regional and global basis
• The unique research design for market size estimation and forecast
• Profiling of major companies operating in the market with key developments
• Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

• By Segment
• By Sub-segment
• By Region/Country

For more information, contact: [email protected]