International. The global Net Zero Energy Buildings (NZEB) market estimated at US$16.8 billion in the year 2020 is projected to reach a revised size of US$47.4 billion in 2026, growing at a CAGR of 18.7% during the analysis period.
Globally, carbon emissions from buildings are primarily generated from the daily use of energy to light, cool and heat buildings, called operational carbon emissions, and account for 28% of energy-related carbon emissions annually. Another key factor is the increasing demand for energy for refrigeration as the ownership of air conditioners increases with the worsening of extreme heat.
Governments' focus and emphasis on energy-efficient buildings bodes well for market growth in the coming years. Several countries are taking regulatory action to reduce the consumption of energy or other resources of buildings. Governments have realized that local policies and actions are meant to share the energy future while mitigating global problems such as climate change.
Achieving energy-efficient buildings is a cost-effective and faster approach to reducing carbon emissions and ensuring sustainable development. Governments' increasing focus on energy-efficient buildings can be attributed to their many benefits, such as social, economic and environmental development.
Efficient building construction and design are able to markedly improve energy-related affordability and access for the low-income population in cities, while providing people with better access to basic services including clean water, education, and health care.
Energy-efficient buildings can significantly reduce electricity demand along with related carbon emissions or other air pollutants. The benefit has great relevance for emerging and developing countries. Despite these benefits, there are certain barriers to achieving energy-efficient buildings, such as low investments and the efficiency gap.
These issues are driving the policy intervention that is envisaged to increase the involvement of different stakeholders to ensure consistent improvements in the energy efficiency of buildings.
