The Business Research Company’s report on the Amusement Parks Global Market Report 2025 Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the energy efficient devices market’s growth in recent years?
The government’s energy-efficiency initiatives are expected to fuel the growth of the energy-efficient devices market going forward. Energy-efficiency initiatives refer to programs, policies, or actions implemented to reduce energy consumption and increase energy efficiency. Government energy-efficiency initiatives are pivotal in advancing energy-efficient devices through the establishment of standards, incentivizing adoption, increasing awareness, supporting research and development, implementing building codes, and promoting cross-sector collaboration. For instance, in March 2024, according to the Department for Energy Security and Net Zero, a UK-based government department, during 2023, around 318,600 energy efficiency measures were installed through government schemes, an increase of 49% compared with 2022. Therefore, the government’s energy-efficiency initiatives are driving the energy-efficient devices market.
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How does the future projection of the energy efficient devices market size compare to its historical growth?
The energy efficient devices market size has grown rapidly in recent years. It will grow from $1095.47 billion in 2024 to $1230.6 billion in 2025 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to government regulations, technological advancements, rising energy costs, environmental awareness, consumer demand.
The energy efficient devices market size is expected to see rapid growth in the next few years. It will grow to $1921.47 billion in 2029 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to increased adoption of smart home devices, growth of energy management systems, expansion of electric vehicle infrastructure, integration of blockchain technology for energy efficiency tracking, the emergence of energy-efficient appliances. Major trends in the forecast period include Internet of things (IoT) integration, artificial intelligence (AI) adoption, renewable energy integration, smart grid development, energy efficiency standards tightening.
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Which key players are shaping the future of the energy efficient devices market?
Major companies operating in the energy efficient devices market are Samsung Electronics, Siemens AG, GE Electric, Panasonic Corporation, Veolia Environment SA, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Daikin Industries Ltd., Toshiba Corporation, Johnson Controls International plc, Eaton Corporation, Carrier Global Corporation, Koninklijke Philips N.V., Trane Technologies, Emerson Electric Co., Legrand Group, Osram Group, Acuity Brands Inc., Itron Inc., Zumtobel Group, Cree Inc., Crompton Greaves Consumer Electricals Limited, Danfoss Group
What trends will propel the growth and evolution of the energy efficient devices market?
Major companies operating in the energy-efficient devices market are focused on developing innovative products with advanced technologies, such as smart IoT solutions, to increase their profitability in the market. Smart IoT solutions are crucial in promoting energy efficiency across various domains, including homes, buildings, industries, and cities, ultimately contributing to sustainability and environmental conservation efforts. For instance, in March 2023, Siemens AG, a Germany-based energy technology and manufacturing company, launched Connect Box. Connect Box is an IoT solution for small to medium-sized buildings, seamlessly integrating wired/wireless devices. It optimizes energy usage, monitors performance, and enhances indoor air quality through real-time analysis. With a plug-and-play setup, diverse licensing options, and user-friendly interfaces, it caters to varied needs while ensuring compliance with sustainability regulations and delivering up to 30% energy savings.
Which regions are expected to become dominant players in the energy efficient devices market?
North America was the largest region in the energy efficient devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the energy efficient devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What are the emerging key segments in the energy efficient devices market, and how are they evolving?
The energy efficient devices market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By System Type: Industrial Energy Management Systems (IEMS), Building Energy Management Systems (BEMS), Home Energy Management Systems (HEMS)
3) By Vertical: Residential, Energy And Power, Telecom And IT & Communication Technology (IT), Manufacturing, Retail, Healthcare, Other Verticals
Subsegments:
1) By Hardware: Sensors, Actuators, Power Supplies, Controllers, Batteries, LED Lighting, Energy-efficient Appliances
2) By Software: Energy Management Software, Automation Software, Monitoring And Analytics Software, Smart Grid Software, Predictive Maintenance Software
3) By Services: Installation Services, Maintenance And Support Services, Consulting And Advisory Services, Managed Services, System Integration Services
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How is the energy efficient devices market defined, and what are its core characteristics?
Energy efficient devices refer to appliances, equipment, or systems designed to consume less energy while delivering comparable performance to traditional counterparts. These are designed with the primary purpose of minimizing energy consumption while maintaining or improving performance and reducing the overall demand on energy production.
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