The Europe energy retrofit system market is set to propel with a CAGR of 4.41% during the forecast period, 2022-2030. The market growth is accelerated by the continuous efforts by European Union to attain energy efficiency, large scale investment propositions, and supportive infrastructure favoring technological exchange.
The Europe energy retrofit system market growth assessment includes the evaluation of Italy, Nordic Countries, Spain, France, United Kingdom, Germany, and Rest of Europe. The government of Spain met the targets to cover 20% of final energy demand with renewable energy and energy efficiency. Also, the National Energy Efficiency Fund (FNEE) has the purpose of financing economic and technical assistance, information, training, or other measures to increase energy efficiency in the different energy-consuming sectors. Hence, increased government efforts and a positive outlook toward energy efficiency are expected to promote the need for energy retrofit systems and aid the market growth in Spain.
In Italy, the Energy Efficiency Unit Department of ENEA plays the role of the National Agency for Energy Efficiency. It provides technical and scientific support to the industrial and service sector to promote and facilitate the adoption of coherent and cost-effective energy efficiency measures. The department also encourages the citizens to promote a new culture of being more attentive to waste reduction and efficient energy use. Therefore, the government’s effort to implement and create energy-efficient infrastructure across industries is expected to drive demand for energy retrofit devices.
Some of the key market players operating in Europe include Schneider Electric, Engie, Siemens, etc.
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