Growing Need for Lower Carbon Emissions Driving Net Zero Energy Buildings Market
The global net zero energy buildings market was valued at $896.6 million in 2018, and it is predicted to reach a revenue of $2,106.6 million by 2024. According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 15.6% from 2019 to 2024 (forecast period). The market is being propelled by the surging adoption of the net zero energy building concept, especially in the commercial sector of North America. In addition, the launch of energy efficiency plans by the governments of several countries is also fueling the expansion of the market across the globe. Many governments have launched initiatives in recent years to mitigate the use of non-renewable energy sources and encourage the adoption of renewable energy sources at a bigger scale. For example, the California Long-Term Energy Efficiency Strategy Plan was launched by the California Public Utilities Commission (CPUC) to ensure that all new commercial buildings and residential buil...