Energy Retrofit Market, By Product (LED Retrofit Lighting, HVAC Retrofit, Envelope, Appliances), By End Use (Residential, Non Residential), and By Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)
Energy Retrofit Market is estimated to be valued at USD 122.83 Bn in 2025 and is expected to reach USD 173.99 Bn by 2032, growing at a compound annual growth rate (CAGR) of 5.1% from 2025 to 2032.
Report Coverage
Report Details
Base Year:
2024
Market Size in 2025:
USD 122.83 Bn
Historical Data for:
2020 To 2024
Forecast Period:
2025 To 2032
Forecast Period 2025 to 2032 CAGR:
5.10%
2032 Value Projection:
USD 173.99 Bn
Retrofitting involves improving or replacing lighting fixtures, ventilation systems or windows and doors, or adding insulation where it makes economic sense. Retrofitting is the incorporation of measures to reduce energy consumption in buildings. These can be to the fabric of the buildings, such as insulating walls, and includes appropriate use of renewable energy technologies such as solar panels.
Market Dynamics:
The global energy retrofit market is driven by the need for the improvement in energy efficiency and high demand for energy consumption. Due to the constant innovation in this industry, mergers, acquisitions and heavy flow of investments the market is witnessing heavy growth. Moreover, increase in popularity of regulatory mandates and incentive programs is again driving growth of the global energy retrofit market. Furthermore, Rapid growth in urbanization and industrialization is further projected to augment market growth.
On the other hand, longer payback period and hidden costs and stringent rule in the industry is expected to hamper the market growth.
Key features of the study:
This report provides in-depth analysis of the global Energy Retrofit market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period 2025-2032, considering 2024 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the Global Energy Retrofit marketbased on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Carrier, Haier Group, Emerson Electric Co., LG Electronics., Lennox International, Rheem Manufacturing Company, Trane Technologies plc, Vishay Intertechnology, Inc., Acuity Brands Lighting, Inc., Ideal Industries, Inc., Lumigrow, Hubbell, Constellation Newenergy, Inc., Energy Systems Group, Cmta, Inc., The Brewer-Garrett Company, Digi-Key Electronics, Renesas Electronics Corporation., Ameresco.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The Global Energy Retrofit marketreport caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global Energy Retrofit market
Detailed Segmentation:
Global Energy Retrofit Market, By Product
LED Retrofit Lighting
HVAC Retrofit
Envelope
Appliances
Global Energy Retrofit Market, By End Use
Residential
Non Residential
Global Energy Retrofit Market, By Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Company Profiles
Carrier
Haier Group
Emerson Electric Co.
LG Electronics.
Lennox International
Rheem Manufacturing Company
Trane Technologies plc
Vishay Intertechnology, Inc.
ACUITY BRANDS LIGHTING, INC.
IDEAL INDUSTRIES, INC.
LumiGrow
Hubbell
Constellation NewEnergy, Inc.
Energy Systems Group
CMTA, INC.
The Brewer-Garrett Company
Digi-Key Electronics
Renesas Electronics Corporation.
Ameresco
Table of Contents
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Market Snapshot, By Product
Market Snapshot, By End Use
Market Snapshot, By Region
Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Need for the improvement in energy efficiency
Longer payback period and hidden costs
Rapid urbanization and industrialization
Impact Analysis
Key Highlights
Regulatory Scenario
Product launch/Approvals
PEST Analysis
PORTER's Analysis
Merger and Acquisition Scenario
4. Global Energy Retrofit Market - Impact of Coronavirus (COVID-19) Pandemic
COVID-19 Epidemiology
Supply Side and Demand Side Analysis
Economic Impact
5. Global Energy Retrofit Market, By Product, 2020-2032, (US$ Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
LED Retrofit Lighting
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Bn)
HVAC Retrofit
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Bn)
Envelope
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Bn)
Appliances
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Bn)
6. Global Energy Retrofit Market, By End Use, 2020-2032, (US$ Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Residential
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Billion)
Non Residential
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Billion)
7. Global Energy Retrofit Market, By Region, 2020-2032, (US$ Bn)
Introduction
Market Share Analysis, By Country, 2025 and 2032 (%)
Y-o-Y Growth Analysis, For Country 2021 -2032
Country Trends
North America
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Product, 2020-2032,(US$ Bn)
Market Size and Forecast, and Y-o-Y Growth, By End Use, 2020-2032,(US$ Bn)
Europe
Market Size and Forecast, and Y-o-Y Growth, By Product, 2020-2032,(US$ Bn)
Market Size and Forecast, and Y-o-Y Growth, By End Use, 2020-2032,(US$ Bn)
Asia Pacific
Market Size and Forecast, and Y-o-Y Growth, By Product, 2020-2032,(US$ Bn)
Market Size and Forecast, and Y-o-Y Growth, By End Use, 2020-2032,(US$ Bn)
Latin America
Market Size and Forecast, and Y-o-Y Growth, By Product, 2020-2032,(US$ Bn)
Market Size and Forecast, and Y-o-Y Growth, By End Use, 2020-2032,(US$ Bn)
Middle East & Africa
Market Size and Forecast, and Y-o-Y Growth, By Product, 2020-2032,(US$ Bn)
Market Size and Forecast, and Y-o-Y Growth, By End Use, 2020-2032,(US$ Bn)s