Advanced energy: Key market research findings
- Advent of energy-efficient solutions to tackle rising energy costs to spur market growth
- Introduction of stringent energy efficiency standards in 25 states in the US to boost growth in the energy efficiency segment
Technavio has added a new market research report on the advanced energy market in the US to its energy portfolio. Technavio’s market research analysts estimate this market to grow at a CAGR of more than 13% during the forecast period. Growing concerns over energy security, greenhouse gas emissions, and rising energy costs are responsible for this market’s high growth rate.
The new research report from Technavio discusses in detail the key drivers and trends responsible for growth, as well as the segments with the maximum growth potential.
“Thanks to the growing need for enhancing energy efficiency in the US, the market for advanced energy is set to grow at a promising rate. Analysts envisage the ability of energy-efficient technologies to deal with issues like rising energy costs, pollution, and global climatic changes to help the US meet its growing energy security needs. Additionally, the advent of biofuels in the US will promote the usage of energy-efficient renewable energy sources in place of traditional sources,” says Navin Rajendra, Lead Analyst, Energy, Technavio Research.
The energy efficiency segment dominates over all the other segments and singlehandedly accounts for nearly 30% of the total market, growing at a rate of over 15% during the forecast period. High growth in this segment can be attributed to the introduction of stringent regulations pertaining to energy efficiency technologies in the US. Also, the advent of low-risk financing mechanisms for vendors across all energy sectors will spur investments in efficiency technologies.
Advanced energy market in the US by energy efficiency segment 2014-2019 (US$ billions)
Source: Technavio, 2015
The leading companies in this market are Alstom, Exxon Mobil, Panasonic, Schneider Electric, and Siemens Energy.
More detailed analysis is available in the Technavio report Advanced Energy Market in the US 2015-2019.
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