One of the major factors propelling the demand for net zero energy buildings (NZEBs) is the increasing need for reducing greenhouse gas (GHG) emissions across the globe. The rising industrialization and urbanization across the world have massively increased the electricity requirements, which have, in turn, boosted the GHG emissions, due to the large-scale burning of fossil-fuels for energy generation. According to a report of the World Green Building Council, the construction industry recorded the use of over 35.0% of the global energy and generated almost 40.0% of total carbon-dioxide emissions in the world.
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The soaring government initiatives in several countries around the world aimed at promoting the utilization of non-renewable energy is one of the biggest factors propelling the demand for net zero energy buildings. For instance, the California Public Utilities Commission (CPUC) has enacted the California Long-Term Energy Efficiency Strategy Plan in order to ensure that all the new residential buildings constructed by 2020 and all the new commercial buildings built by 2030 are net zero energy buildings (NZEBs). Due to these factors, the builders in California are obligated to construct NZEBs in the coming years.
Driven by the above-mentioned factors, the valuation of the global net zero energy buildings market is predicted to increase from $896.6 million in 2018 to $2,106.6 million by 2024. The market is also expected to demonstrate a CAGR of 15.6% during the forecast period (2019–2024). Net zero energy buildings are widely being constructed in the residential and commercial sectors. Out of the two sectors, the commercial sector, owing to their huge electricity requirements and high GHG emissions, observed higher construction rate of NZEBs in 2018.
Globally, North America registered the highest adoption of NZEBs in the last few years and this trend is predicted to continue during the forecast period as well. This is primarily ascribed to the increasing government incentives in the several North American countries for reducing the GHG emissions and energy consumption rates. In addition to this, Canada and the U.S. have been heavily involved in numerous programs aimed at promoting energy sustainability over the last few years and this has massively boosted the growth of the NZEB market in the region.
Competitive Landscape of Net Zero Energy Buildings Market
Some of the leading players operating in the net zero energy buildings market include Kingspan Group plc, Daikin Industries Ltd., Rockwool Group, Xtratherm Limited, and Solatube International Inc.
Recent Strategic Developments of Major Net Zero Energy Buildings Market Players
Market players have taken several strategic measures in order to gain a larger share in the global net zero energy buildings market. For instance, in April 2019, Kingspan Group plc launched three new panels in the market, namely, KingSeam, KingRib 3, and KingRib 5. These roofing panels are suitable for NZEBs since these are energy efficient, cost-effective, and utilize chlorofluorocarbon (CFC)-free foamed-in-place polyisocyanurate (PIR) foam, which provides an R-value of 12 for a 1.5” panel, all the way up to an R-value of 49 for a 6” panel.
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