International. By 2025, the global net zero energy (NZEB) building market will have amounted to approximately $78.8 billion, according to a new report from Grand View Research Inc.
The report indicates that the projected market increase is remarkable, considering that NZEB's market size was valued at just over US$8 billion in 2016.
"The need for a transition to a low-carbon economy to develop energy-efficient solutions and reinvent existing and new infrastructure is expected to raise the demand for net-zero energy," according to the report.
As defined by the U.S. Department of Energy, an NZEB is a building that generates enough renewable energy to meet its own annual energy consumption requirements, reducing the use of non-renewable energy on the property. The residential sector has contributed to the NZEB market, but it is the commercial real estate sector that accounts for the majority of these properties, in more than 75 percent of NZEB's global market in 2016. The dominance of the commercial segment can be attributed to two circumstances: increased demand and increased adoption.
In terms of market share at the regional level, North America topped the pack in 2016 among the locations surveyed, a list that includes 18 countries in North America, Europe, Asia Pacific, South America, and the Middle East and Africa. The region's superior presence in the NZEB market is largely due to the high implementation of relevant technologies in both Canada and the United States, with a significant contribution from California.
