Published on : Dec 20, 2016
ALBANY, NY, Dec 20, 2016: According to the report, this market is expected to expand at around 29% CAGR from 2016 to 2020. The market is expected to be driven by the growing number of real estate buildings. The report is a comprehensive analysis of India’s building energy management services market, including factors driving and restraining the market. The report segments the market on the basis of key criteria and gives information such as leading, declining, and fastest growing segment.
The report also profiles key players in the market and gives details such as business and financial overview, recent developments by players, and their strategic moves. Some of the players in the market are Honeywell, Bosch, Siemens, Secure Meters, and Schneider Electric. The future scope of the market and recommendations are also included in the report, making it a must-have for all those who wish to invest in the building energy management services market in India.
The developmental activities in commercial and residential sectors are expected to create positive growth prospects for the market. Another key factor boosting India’s building energy management services market is the adoption of renewable sources of energy. The current surge in the implementation of sustainable energy practices in India is also expected to be a key factor for the market’s growth. The government in India has also laid out plans for the adoption of cleaner and renewable sources of energy for the generation of power, to be implemented by building owners. This is expected to encourage India’s building energy management services market and drive the market’s growth at a fast pace in the coming years.
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It is expected that the installed capacity of renewable energy sources, including solar, wind, thermal, and geothermal will rise to 1.5 times in the coming years as the population of India is continually growing, owing to which, energy demands for people cannot be fulfilled by traditional energy sources. The limited availability of non-renewable sources owing to their depletion is expected to create a need to generate energy from renewable sources, boosting the market.
On the basis of services, the building energy management services market is segmented into consulting services system, support, and integration maintenance. Of these, the system integration services segment led in 2015 and is likely to continue leading in the market by 2020. By end user, the market is segmented into commercial buildings, education, residential buildings, and healthcare. Of these, the commercial segment is leading in the market and this market is expected to strengthen over the years. Mumbai is expected to be the most promising city in terms of commercial real estate investments.
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