Due to the continued support of government initiatives in the form of incentives, the growing energy efficient construction business is expected to grow some more for the foreseeable future.
That’s the conclusion of a report just published by the Selbyville, Delaware-based Global Market Insights, Inc., which notes that such construction is likely to remain strong, particularly in the industry’s institutional sector, which includes colleges, hotels and hospitals.
In an overview of the report, called Energy Efficient Construction Market Size, it is additionally noted that there is an increased commitment to “reduce carbon emissions and manage capital in a strategic way among governments and corporate sectors,” which has proven to be among the “Key driving factors for energy efficient construction market size growth.”
The trend is worldwide: with France, Germany, and Great Britain seeing more energy efficient construction “owing to governmental regulations pertaining to control gas emissions and environment consciousness among end users.”
Such construction is expected to remain particularly pronounced, says the report, in both China and India, “due to high population growth” and the existence of large manufacturing plants.
In addition, solar power installations are predicted to exceed “more than 590 gigawatts by 2023, including both concentrated thermal power and photovoltaic.”
By Garry Boulard
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